A McDonald’s restaurant is seen in Belmont, California, on April 3, 2023.
Tayfun Coskun | Anadolu Agency | Getty Images
McDonald’s is expected to report its third-quarter earnings before the bell Monday.
Here’s what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, are expecting:
- Earnings per share: $3, expected
- Revenue: $6.58 billion, expected
Shares of McDonald’s have fallen 3% this year, dragging its market value down to $186 billion. But the stock has struggled even more recently, tumbling 14% in the past three months. Broader economic worries, such as high interest rates and currency exchange rates, and long-term concerns about weight loss drugs such as Wegovy, have hit the stock.
But Wall Street has high expectations for the fast-food giant’s third quarter. Analysts are expecting the company to report same-store sales growth of 7.8%, according to StreetAccount estimates. McDonald’s has reported strong demand in the U.S. and Europe as consumers trade down to fast food’s cheap meals.
The company is also scheduled to hold an investor update in Chicago on Dec. 6.
Source link: https://www.cnbc.com/2023/10/30/mcdonalds-mcd-q3-2023-earnings.html