McDonald's will report its third-quarter earnings on Wednesday, with analysts from LSEG expecting earnings per share of $3.38 and revenue of $7.29 billion. The company's CEO, Chris Kempczinski, previously noted that the U.S. business struggled due to inconsistent execution of value offers and challenges with new menu item launches.
As a result, McDonald's appointed Skye Anderson as the new U.S. president. Analysts forecast a decline in same-store sales by 0.5% for the third quarter, raising concerns about the company's performance in its home market. Additionally, Chipotle Mexican Grill's executives indicated a slowdown in restaurant traffic in October, which may further affect McDonald's outlook.
Over the past year, McDonald's shares have dropped approximately 11%, influenced by worries regarding its U.S. operations, costly restaurant upgrades, and broader economic conditions. The company currently holds a market capitalization of around $186 billion