McDonald’s logo can be seen in Los Angeles, California.
Lucy Nicholson | Reuters
mcdonalds The company plans to announce its third-quarter results before the bell on Wednesday.
Here’s what Wall Street analysts surveyed by LSEG expect from the company’s report:
Earnings per share: Expected $3.33 Revenue: Expected $7.1 billion
Fast food giants, often seen as the vanguard of consumers’ financial health, have been sounding the alarm over declining spending among low-income customers for more than a year. But Wall Street expects McDonald’s to report same-store sales growth for the second straight quarter, showing the company’s value strategy is winning over customers.
At the start of the third quarter, McDonald’s Snack Wraps returned to the menu for the first time in nine years. And in September, the chain brought back its Extra Value Meals, which it had last promoted before the coronavirus pandemic.
Analysts expect McDonald’s global same-store sales to rise 3.5%, according to Street Account estimates. Wall Street expects the burger chain’s international market to outperform the U.S., with same-store sales expected to rise 1.9%.
McDonald’s stock has risen just 3% since the beginning of the year, as investor concerns about the restaurant industry and the economy in general weighed on the stock. The company’s market capitalization exceeds $212 billion.
