McDonald's Corporation (MCD) Earnings
McDonald's Corporation is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $3.34. MCD has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +1.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $2.74 | $2.83 | +3.3% | $6.5B | +0.7% |
| Feb 11, 2026 | $3.05 | $3.12 | +2.3% | $7.0B | +2.5% |
| Nov 5, 2025 | $3.33 | $3.22 | -3.3% | $7.1B | -0.1% |
| Aug 6, 2025 | $3.14 | $3.19 | +1.6% | $6.8B | +2.2% |
| May 1, 2025 | $2.66 | $2.67 | +0.4% | $6.0B | -2.4% |
| Apr 30, 2024 | $2.72 | $2.70 | -0.7% | $6.2B | +0.2% |
| Jul 27, 2023 | $2.79 | $3.17 | +13.6% | $6.5B | +3.6% |
| Jan 31, 2023 | $2.45 | $2.59 | +5.7% | $5.9B | +3.6% |
| Oct 27, 2022 | $2.58 | $2.68 | +3.9% | $5.9B | +3.0% |
| Jul 26, 2022 | $2.45 | $2.55 | +4.1% | $5.7B | -1.4% |
| Apr 28, 2022 | $2.18 | $2.28 | +4.6% | $5.7B | +1.7% |
| Jan 27, 2022 | $2.34 | $2.23 | -4.7% | $6.0B | -0.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Strategic execution: Demonstrated consistent execution across value, marketing, and menu innovation, leading to growth in global comparable sales and market share gains in nearly all top 10 markets. • Value leadership: Focused on strengthening value leadership, with initiatives like McValue in the U.S. and international markets, offering compelling value and meal deals. • Marketing campaigns: Launched various campaigns like Friend campaign, Super Mario Galaxy Happy Meal, K-Pop Demon Hunters partnership, and Friends TV show Theme Promotion, driving traffic and brand engagement. • Menu innovation: Successfully executed beverage tests and launches in various markets, and large burger and chicken campaigns in key markets, maintaining relevance and driving sales.
Guidance
• Q2 expects meaningful deceleration in comp sales from Q1 levels due to April's soft performance, but expects comp sales to accelerate on a two-year stack basis. • Reaffirms full-year 2026 financial targets. • Foreign currency expected to be a full-year tailwind to 2026 EPS in the range of 20 to 30 cents.
Segment performance
In Q1, global system-wide sales grew 6% in constant currency, and global comparable sales grew 3.8%. In the U.S., comparable sales grew 3.9%. International operated markets comparable sales grew 3.9% in the first quarter. International developmental licensed markets comparable sales grew 3.4%. Each segment showed solid growth with strong execution across value, marketing, and menu innovation.
Risks & headwinds
• Impact of the war in the Middle East on operating environment, including potential cost inflation and volatility. • Supply chain disruptions posing risk of higher cost inflation in the longer term. • Macro-economic challenges and consumer sentiment affecting lower-income consumers' spending.
Analyst Q&A
Q: Following another solid U.S. sales performance in the quarter, can you talk a bit more about how you're thinking about the U.S. sales trajectory over the balance of 26?
A: Feel good about the plan in place, expecting to benefit from McValue program, menu innovation, and marketing news, focusing on what can be controlled despite macro backdrop.
Q: Just to talk a little bit about kind of Q2 and beyond, can you elaborate?
A: Expect Q2 comp sales to decelerate from Q1 levels due to April's soft performance, but expect comp sales to accelerate on a two-year stack basis for each segment.