MCD
FY2026 Q1 · Calendar Q2 2026
McDonald's Corporation
McDonald's entered FY2026 with solid but moderating growth. Global comparable sales rose 3.8% in Q1, down from 5.7% in Q4 2025, yet the company gained share in nearly all top markets. EPS of $2.83 beat estimates by 3.3% on revenue of $6.52B. The value platform (McValue under-$3 menu, Extra Value Meals) remains the primary traffic driver, complemented by high-impact marketing partnerships (Netflix, FIFA, Super Mario) and an expanding McCafe beverage lineup. International markets — notably the UK, Germany, and Australia — delivered mid- to high-single-digit comp growth. The key watch item is U.S. company-operated margins, which underperformed and triggered a strategic review of the ownership mix with potential refranchising. Management maintained full-year guidance and struck a confident tone, but the deceleration from Q4 and margin pressure in the U.S. warrant monitoring.
EPS surprise+3.3%
Market move-0.1%
