A McDonald’s restaurant is pictured on July 22, 2024 in Burbank, California.
Mario Tama | Getty Images
McDonald’s is expected to report second-quarter earnings before the open on Monday.
Here’s what Wall Street analysts surveyed by LSEG expected the company to report:
- Earnings per share: Expected $3.07
- Revenue: Estimated $6.61 billion
Shares of the burger chain have fallen 15% year to date, as investors worry about the health of consumer spending and the restaurant industry.
McDonald’s executives have warned that restaurants are struggling to attract a smaller customer base and many of them have launch value meals to steal market share. In the United States, McDonald’s has been running a $5 meal promotion for the past month to attract new customers; on Monday, the company told its US system that they plan to extend the promotion.
But those discounts only take effect at the end of the chain’s second quarter. Wall Street expects the company to report same-store sales in the United States for the period, according to StreetAccount estimates. A year ago, McDonald’s domestically Same-store sales increased 10.3%, boosted by viral promotion featuring mascot Grimace.
Outside the US, McDonald’s is likely still seeing sharp sales declines in the Middle East related to boycotts. At the start of the second quarter, the company bought 225 restaurants operated by an Israeli franchisor.
