EarningsQ2 2026 Earnings Report
MX:MCD Q2 2026 EPS Results
Actual EPS$57.95
Consensus EPS$56.89
Beat/MissBeat by +$1.06
One Year Ago EPS$54.69
MX:MCD Q2 2026 Revenue Results
Actual Revenue$121.73B
Expected Revenue$122.22B
Beat/MissMissed by -$492.63M
YoY Revenue Growth+3.76%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:MCD Upcoming Earnings
McDonald's's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MCD Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed mixed but constructive momentum: core financials and global initiatives remain strong (system-wide sales growth, EPS growth, margins, loyalty scale, beverage early success, international performance and disciplined development), while the U.S. business showed clear execution, operations and marketing shortcomings that materially weighed on quarterly comparable sales. Management laid out concrete remediation steps (calendar simplification, reallocation of marketing, reinstating targeted digital offers, franchise discussions) and previewed a longer-term McDonald's > NEXT strategy, but near-term U.S. execution risk and select market weaknesses temper enthusiasm.Company Guidance
System-wide Sales and Comparable Sales Growth
System-wide sales grew 4% in constant currency in Q2 2026 (5% for the first half of 2026). Global comparable sales increased 1.3% in Q2 and 2.5% for the first half, with positive comps across each operating segment.
Adjusted EPS and Margin Resiliency
Reported adjusted EPS was $3.38 in Q2, representing a 5% constant-currency increase year-over-year (included a $0.03 FX benefit). Q2 restaurant margins exceeded $4 billion and year-to-date adjusted operating margin was 46.9%.
Loyalty and Digital Scale
Built the industry's largest customer platform with nearly 220 million active loyalty users globally; Japan loyalty launched under a year with nearly 20 million 90-day active users contributing to 10 consecutive quarters of positive guest count growth there.
Beverage Platform Early Success
New beverage platform launched in May (U.S., Canada, Germany) exceeded expectations: beverage orders show strong food attachment and higher checks (beverage-associated checks ~50% above full-day average); more than half of beverage traffic occurs after lunch, indicating new daypart incrementality.
International Operated & Developmental Market Strength
International Operated Markets (IOM) comps +1.5% in Q2 driven by Germany, Australia and the U.K.; International Developmental Licensed (IDL) comps +1.9% with Japan leading and Australia/Germany showing strong LTO performance and beverage traction.
Delivery and Digital Revenue Scale
Delivery business generates more than $20 billion in annual system-wide sales, demonstrating efficiency and scale in digital and off-premises channels.
Disciplined Capital Allocation and Restaurant Growth
Remain focused on high-return new restaurants: expect ~2,600 gross restaurant openings by year-end 2026. Target of 50,000 restaurants adjusted to 2028 (slight timing change) while maintaining the fastest expansion period in company history.
G&A Discipline and Technology Investments
G&A was 2.2% of system-wide sales in Q2 and remains on track for ~2.2% for the full year. Investments in global systems (one app, one loyalty, one pricing engine, one HR and finance) are expected to drive productivity and future G&A reduction beginning in 2027.
MX:MCD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed