McDonald's Earnings Preview: What to Expect

Valued at $188.2 billion by market cap, McDonald's Corporation (MCD) is the world's largest quick-service restaurant (QSR) company, serving tens of millions of customers daily through a global network of more than 40,000 restaurants across over 100 countries. The Chicago, Illinois-based company is best known for its burgers, fries, chicken products, breakfast offerings, coffee, and beverages under the McDonald's brand.

The fast-food giant is expected to announce its fiscal 2026 second-quarter earnings before the market opens on Tuesday, Aug. 4. Ahead of the event, analysts expect MCD to report a profit of $3.33 per share on a diluted basis, up 4.4% from $3.19 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.  

For the current year, analysts expect MCD to report EPS of $12.88, up 5.6% from $12.20 in fiscal 2025. Its EPS is expected to rise 9.1% year over year to $14.05 in fiscal 2027. 

MCD stock has underperformed the S&P 500 Index’s ($SPX) 12.3% gains over the past 52 weeks, with shares down 8.5% during this period. Similarly, it underperformed the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 6.9% gains over the same time frame.

On Jul. 2, McDonald's shares rose 3.6% after UBS named the fast-food giant an attractive defensive dividend stock, citing its ability to gain market share through value offerings and marketing initiatives. The upbeat outlook outweighed concerns over a 3.9% year-over-year decline in U.S. restaurant traffic in late June, due to inflation and weak consumer sentiment.

Analysts’ consensus opinion on MCD stock is fairly bullish, with a “Moderate Buy” rating overall. Out of 34 analysts covering the stock, 16 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and 17 give a “Hold.” MCD’s average analyst price target is $328.19, indicating a potential upside of 20% from the current price levels.