McDonald’s earnings date and guidance
McDonald’s next results are expected on November 4, 2026. The key thing to watch is whether U.S. visits recover, not merely whether customers spend more.
What has McDonald’s guided for 2026?
For 2026, management guides to a 2.5% contribution from net restaurant expansion to systemwide sales growth. Capital spending is guided at $3,700–$3,900 million. The opening plan is 2,600 restaurants in 2026. Capital-partnering support for 2027–2030 is $1,500–$2,000 million.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| net restaurant unit expansion contribution to Systemwide sales growth, in constant currencies (%) | 2026 | 2.5% | 2.5% | Aug 7, 2026 |
| capital expenditures | 2026 | 3,700 | 3,900 | Aug 7, 2026 |
| restaurants to open (restaurants) | 2026 | 2,600 | 2,600 | Aug 7, 2026 |
| net restaurant additions (restaurants) | 2026 | 2,100 | 2,100 | Aug 7, 2026 |
| free cash flow conversion rate (%) | 2026 | Aug 7, 2026 | ||
| Capital expenditures, cumulative capital partnering support | 2027–2030 | 1,500 | 2,000 | Sep 23, 2026 |
Did McDonald’s keep its past promises?
Management promised 50,000 restaurants by the end of 2027, then moved the target to 2028 because development costs and consumer pressure had worsened. McDonald’s also continued increasing its dividend. The fair conclusion is mixed: incentives restrain some rewards and buybacks offset dilution, but modernization must still earn attractive returns for both franchisees and outside owners.
What is McDonald’s revenue and profit trend?
Revenue rose from $6,843 million to $7,099 million. Yet global comparable-sales growth slowed to 1.3%, while U.S. growth slowed to 0.8%. Customers who bought something spent more per transaction, helped by product mix, but comparable guest counts fell. Systemwide sales grew about 5% in reported terms, so new restaurants and currency supported the result beyond mature-store demand.
Net income rose 4.8% to $2,362 million, while EPS rose 5.7% to $3.32. The quarter included $52 million of net pre-tax charges, chiefly restructuring. Tax benefits, restaurant-business sale gains and lower bad-debt expense also helped earnings, so profit growth was stronger than the underlying sales signal.
| Quarter to Jun 2026 | Quarter to Mar 2026 | Quarter to Dec 2025 | Quarter to Sep 2025 | Quarter to Jun 2025 | Quarter to Mar 2025 | Quarter to Dec 2024 | Quarter to Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,099 | 6,517 | 7,009 | 7,078 | 6,843 | 5,956 | 6,388 | 6,873 |
| Operating income | 3,338 | 2,953 | 3,156 | 3,357 | 3,232 | 2,648 | 2,868 | 3,188 |
| Net income | 2,362 | 1,983 | 2,164 | 2,278 | 2,253 | 1,868 | 2,017 | 2,255 |
| EPS, diluted | 3.32 | 2.78 | 3.03 | 3.18 | 3.14 | 2.60 | 2.80 | 3.13 |
What should I watch in McDonald’s next results?
The next results should show whether the U.S. recovery is taking hold. Management expects slightly negative U.S. comparable sales for the third quarter, while the Make It Golden food-quality and hospitality effort offers another test. Better execution must bring back visits, not merely persuade existing customers to spend more.