McDonald's Corporation · MCD · Next earnings

McDonald's Corporation reports Wednesday, Nov 4, 2026

MCD reports before market open with consensus EPS at $3.39 and revenue at $7.32B. Last quarter: McDonald's Q1 2026: Comp Sales Up 3.8% as Value Platform Drives Traffic

Reports Before market open45 days awayDate estimated Consumer Cyclical

What the street expects

Consensus for the coming report
Consensus EPS $3.39 Calendar consensus
Consensus revenue $7.32B Calendar consensus
Report date Nov 4, 2026 Wednesday, date estimated
Session Before market open 45 days away

Where MCD left off: FY2026 Q1

Full report

McDonald's Q1 2026: Comp Sales Up 3.8% as Value Platform Drives Traffic

EPS surprise +3.3% Reported $2.83 vs $2.74
Revenue surprise +0.7% Reported $6.52B vs $6.47B
Stock move -0.1% Event window
Subsequent drift -1.4% Up to 20 sessions

Management maintained full-year targets and guidance sentiment was unchanged from the prior quarter. No new guidance figures were introduced, and capex outlook was not mentioned in Q1 commentary (prior quarter set $3.7-$3.9B for 2026). The company reaffirmed its target of 50,000 restaurants globally by end-2027 and plans to open approximately 1,000 new restaurants in China this year.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Challenging macro environment and weakening consumer sentiment may pressure traffic.
  • Rising food, paper, and energy costs — particularly beef inflation — threaten restaurant margins.
  • Higher gas prices disproportionately impact low-income customers who are core value-menu users.
  • Geopolitical volatility in the Middle East creates an unpredictable operating environment.
  • Weak U.S. company-operated margins and franchisee profitability pressures require strategic action.

Questions analysts left open

  • U.S. sales trajectory amid a challenging macro backdrop.
  • Frequency and timing of value-program iterations and sustainability of the value strategy.
  • Potential refranchising of underperforming company-operated stores and execution risk.
  • Franchisee cash-flow and profitability pressures.
  • Impact of rising gas prices on lower-income customer traffic.

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Recent MCD quarters

All MCD earnings
-0.1%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.