McDonald's stock posts Q3 earnings beat as U.S. sales slip

McDonald's reported mixed third-quarter results on Wednesday, November 4, as international markets supported global growth while U.S. comparable sales declined. The company said the quarter ended September 30 produced global comparable sales growth of 1.5%, with international operations more than offsetting weaker domestic demand. The figures are from McDonald's third-quarter results release.

Mixed demand across major markets

U.S. comparable sales decreased 0.2%, reflecting negative guest counts that were largely offset by higher average checks. Management said U.S. performance improved as the quarter progressed following interventions centered on value, but the domestic figure still contrasted with stronger international performance.

Comparable sales increased 1.4% in the International Operated Markets segment and 4.2% in the International Developmental Licensed Markets segment. McDonald's highlighted broad international growth, although performance varied by market. Global systemwide sales increased 4% to more than 38 billion US dollars, including sales from franchised restaurants.

Adjusted profit outpaces reported growth

Consolidated revenue increased 1% during the quarter, while consolidated operating income rose 7%. The company recorded 56 million US dollars in current-year pretax charges, primarily related to restructuring under its Accelerating the Organization initiative. Excluding the current-year and prior-year charges, adjusted operating income increased 8%.

Reported diluted earnings per share rose 10% to 3.51 US dollars. Excluding 0.06 US dollars per share of current-year charges, adjusted diluted earnings per share reached 3.57 US dollars and increased 11% when the comparison also excludes prior-year charges. The adjusted figure therefore gives investors a clearer view of operating performance, but it remains a measure that removes a material restructuring item.

Value strategy remains in focus

Chairman and Chief Executive Chris Kempczinski said McDonald's delivered another quarter of global growth and pointed to improvement in the U.S. after the company's value intervention. He said the company was focused on strengthening the current business while investing in its next phase of growth.

The company also declared a 4% increase in its quarterly cash dividend to 1.93 US dollars per share. For investors, the results leave international expansion and loyalty activity as important supports while U.S. traffic and value perception remain the main operating test.

The real-time quote of McDonald's stock traded at 244.75 euros on Lang & Schwarz at 14:30 CET on Friday, November 6, 2026.

U.S. investors are also weighing the broader direction of the S&P 500 as restaurant and consumer stocks respond to changing spending patterns.

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