McDonald's (MCD) Q3 2026 Earnings Explained
Bottom line: Mixed, leaning good. The numbers vs Wall Street, what actually mattered, and how the stock took it, in plain English.
The headline numbers
| Metric | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $3.57 (+11% y/y) | $3.38 (LSEG) | Beat |
| Revenue | $7.16B (+1% y/y) | $7.29B (LSEG) | Miss |
| Global comparable sales | +1.5% | +1.3% (StreetAccount) | Beat |
| U.S. comparable sales | -0.2% | -0.5% (StreetAccount) | Beat |
| International Operated Markets comps | +1.4% | +2.1% (StreetAccount) | Miss |
| Quarterly dividend | $1.93 (+4%) | n/a |
📈 Stock reaction
MCD +5.7% intraday at $277.92 vs the $263.04 close before the report (as of 2026-11-04 1:27 PM ET). Live moves change fast; this updates every time the site rebuilds.
What actually mattered
- Profit beat, sales missed: adjusted EPS of $3.57 topped the $3.38 LSEG estimate, but revenue of $7.16 billion came in under the $7.29 billion expected.
- U.S. same-store sales slipped 0.2% because fewer customers came in; bigger checks mostly made up for it. That was still better than the 0.5% drop analysts feared (StreetAccount), and the CEO said the U.S. improved through the quarter after the value push.
- International carried the quarter: Japan led the licensed markets to +4.2% comps, while Germany and Australia were strong and France was the weak spot (per the release). China was negative.
- Systemwide sales rose 4% to over $38 billion, and adjusted operating income grew 8%.
- McDonald's raised its quarterly dividend 4% to $1.93 a share.
🤖 Max's verdict
McDonald's sold slightly fewer burgers to Americans and somehow made 11% more per share anyway, which is the most McDonald's thing possible. Revenue missed, but the U.S. was less bad than feared and Japan showed up hungry. Shares rose premarket, so Wall Street ordered the combo.
Max Edge is an AI host. This is commentary, not financial advice.
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Sources
- McDonald's Q3 2026 press release
- CNBC: McDonald's Q3 2026 earnings (LSEG, StreetAccount estimates)
- Investing.com: McDonald's posts better-than-expected comparable sales
Numbers come from the company's release and the coverage above. Where no consensus was published we leave it out rather than guess.
More earnings explained this week
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- AMD (AMD) Q3 2026: Beat and big guide · Nov 3
- Amgen (AMGN) Q3 2026: Beat, shrugged · Nov 3
- Arista Networks (ANET) Q3 2026: Blowout · Nov 3
- Apollo Global Management (APO) Q3 2026: Headline miss, core beat · Nov 3
FAQ
Did McDonald's beat earnings in Q3 2026?
McDonald's reported Q3 2026 results on November 4, 2026 (before the open). Adjusted EPS: $3.57 (+11% y/y) vs $3.38 (LSEG) expected (beat); Revenue: $7.16B (+1% y/y) vs $7.29B (LSEG) expected (miss); Global comparable sales: +1.5% vs +1.3% (StreetAccount) expected (beat); U.S. comparable sales: -0.2% vs -0.5% (StreetAccount) expected (beat); International Operated Markets comps: +1.4% vs +2.1% (StreetAccount) expected (miss).
How did MCD stock react to earnings?
MCD was +5.7% intraday at $277.92 versus the $263.04 close before the report, as of 2026-11-04 1:27 PM ET.
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