McDonald's reported third-quarter 2026 results on Wednesday that beat profit expectations but showed continued pressure on its U.S. business, where comparable sales slipped 0.2% as guest counts fell.
Global comparable sales increased 1.5%, supported by stronger international markets, while global systemwide sales increased 4% to more than $38 billion. U.S. customer traffic fell approximately 4.6% year on year, according to Reuters, illustrating how financially pressured consumers are reducing restaurant visits despite the company's expanding value promotions.
Consolidated revenue rose 1% year over year to $7.157 billion, below the consensus estimate of $7.28 billion. Net income increased 9% to $2.486 billion, and diluted earnings per share rose 10% to $3.51. Excluding restructuring charges, adjusted earnings reached $3.57 per share, compared with $3.22 a year earlier, beating the consensus mark of $3.36.
Franchised restaurant revenues increased 3% to $4.49 billion, and franchised restaurant margins grew 3% to $3.80 billion, accounting for about 90% of total restaurant margins. Sales from company-owned and operated restaurants declined 3% to $2.48 billion. McDonald's operated 46,554 restaurants worldwide at the end of September, up from 44,599 a year earlier.
On the company's earnings call, management said U.S. performance improved as the quarter progressed, with comparable sales turning positive in September after slightly negative results in July and August. McDonald's still expects roughly $3.7 billion in capital expenditures in 2026, primarily for new restaurants in the U.S. and international operated markets.
