Before the bell rings on Monday, McDonald’s is anticipated to release its second-quarter financial results.
The following is what LSEG’s survey of Wall Street analysts predicts the business will reveal:
Expected earnings per share: $3.07
Revenue: An estimated $6.61 billion
Investor worries about the state of consumer spending and the restaurant business have contributed to the 15% year-to-date decline in the burger chain’s stock.
Executives at McDonald’s have issued a warning, stating that numerous restaurants are launching discount meals in an attempt to take market share as they compete for a decreasing number of patrons. For the past month, McDonald’s has offered a $5 lunch bargain in the United States in an effort to attract new customers. The firm announced on Monday that it intends to continue the promotion.
However, those savings didn’t start to apply until the very end of the chain’s second quarter. Based on StreetAccount estimates, Wall Street anticipates the firm to report flat same-store sales in the United States for the period. A year ago, McDonald’s had a 10.3% gain in domestic same-store sales, boosted by a viral campaign starring mascot Grimace.
Outside of the United States, McDonald’s is probably still dealing with declining sales in the Middle East as a result of boycotts. Beginning with the second quarter, the business acquired the 225 eateries run by its Israeli franchisee.
