In an aerial view, an indication is posted in front of a McDonald’s restaurant on April 03, 2023 in San Pablo, California.
Justin Sullivan | Getty Images
McDonald’s is anticipated to report its second-quarter earnings before the bell Thursday.
Here’s what Wall Street analysts surveyed by Refinitiv predict:
- Earnings per share: $2.79 expected
- Revenue: $6.27 billion expected
The fast-food giant is commonly seen as a bellwether for the restaurant industry and the broader consumer environment, and investors have high expectations for its second quarter. McDonald’s is anticipated to report same-store sales growth of 9.2%, in accordance with StreetAccount estimates.
The chain will likely report a sales boost from its Grimace Birthday Meal on the tail end of the quarter. The meal combo, which included a photo-friendly purple milkshake, went viral on social media, fueled by nostalgia for the McDonaldland character.
But McDonald’s executives have taken a more conservative outlook for the burger chain. Last quarter, CEO Chris Kempczinski said some customers have pushed back on price increases. He also warned about potential recessions hitting the U.S. and Europe later this yr.
Shares of McDonald’s have risen 10% this yr, trailing the S&P 500‘s rise of 18% in the identical period. McDonald’s has a market value of $213 billion.
