McDonald’s earnings top estimates, fueled by U.S. sales recovery


McDonalds restaurant in Londons Oxford Street. Restaurants are only allowed to open for takeaway orders during the Englands second lockdown.

Dave Rushen | LightRocket | Getty Images

McDonald’s is expected to report its third-quarter earnings on Monday before the bell.

Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.90 expected
  • Revenue: $5.4 billion expected

In October, the fast-food giant said its U.S. same-store sales turned positive, rising 4.6% in the third quarter. A promotion with rapper Travis Scott helped boost sales in September, fueling the chain’s highest monthly same-store sales growth in nearly a decade.

But international markets’ are taking longer to bounce back after being hit harder by pandemic restrictions, dragging down McDonald’s total same-store sales. The company reported global same-store sales declines of 2.2% for the quarter.

And international markets will likely continue to weigh on McDonald’s business. England, Germany and France, some of the company’s largest markets, are re-imposing lockdowns as Covid-19 cases and deaths soar in those countries.

Following the announcement of its third-quarter results, McDonald’s is scheduled to hold a virtual investor meeting.

Shares of the company, which has a market value of $167 billion, have risen 9% so far this year.

This is breaking news. Please check back for updates.

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