17.6 C
Saturday, May 28, 2022
HomeBusinessMcDonald's (MCD) Q3 2021 earnings

McDonald’s (MCD) Q3 2021 earnings


Related stories

Apple union push faces setback; Atlanta organizers withdraw vote bid

Shoppers walk past an Apple Store at Franklin...

India Cements to monetise land parcels for repaying debt, capex

Chennai-based cement manufacturer India Cements on Friday announced...

Top Tips to Advance Your Nursing Career as Far as Possible

Many people who are working in the nursing profession,...

How To Prepare For A Vacation

The summer months are just around the corner, and...

Ideas to Make Your Place Shine Bright and Look Elegant

A dark and gloomy house does not look attractive....

A large portion of French fries, a classic Big Mac burger and a large sized coke are on display on a tray at a branch restaurant of fast food chain McDonald’s in Muehlheim am Main, Germany, 22 April 2015.

picture alliance | picture alliance | Getty Images

McDonald’s is expected to report its third-quarter results before the bell Wednesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting:

  • Earnings per share: $2.46 expected
  • Revenue: $6.04 billion expected

Last quarter, the fast-food giant reported soaring U.S. same-store sales growth of 14.9% on a two-year basis, fueled by the success of its new chicken sandwich and a meal promotion with K-pop group BTS.

This quarter, analysts are expecting domestic same-store sales growth to slow somewhat. The nationwide launch of the chain’s loyalty program likely boosted sales, but McDonald’s meal with rapper Saweetie didn’t drive as many orders as other celebrity meal promotions. StreetAccount is forecasting U.S. same-store sales growth of 8.3%.

Outside of the United States, McDonald’s recovery has been bumpier. Lockdowns in key markets like Australia have hurt sales, but easing restrictions and fewer temporary closures likely helped its international segments this quarter.

Investors will also be watching to see how McDonald’s is weathering issues hitting the broader restaurant industry, like labor challenges, higher food costs and the delta variant. Staffing shortages in particular weighed on sales for Domino’s Pizza and Restaurant Brands International’s Popeyes.

McDonald’s is expecting systemwide sales growth in the mid-to-high teens for the full year.

Shares of the burger chain have risen 11% this year, giving it a market value of $184 billion.

Source link

Latest stories