McDonald's stock faces U.S. traffic test after mixed quarter
Published on 11/11/2026 at 13:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSU.S. Recovery Remains The Test
- Global comparable sales increased 1.5% in the third quarter, while U.S. comparable sales declined 0.2%.
- Adjusted diluted earnings per share rose to 3.57 U.S. dollars and exceeded analyst expectations.
- McDonald's is testing new value menus at about 1,900 U.S. restaurants ahead of a planned early-2027 rollout.
- The company raised its quarterly dividend by 4% to 1.93 U.S. dollars per share.
McDonald's delivered stronger profit growth than sales growth in the third quarter, leaving investors focused on whether its U.S. value strategy can restore customer traffic. The company announced the results for the quarter ended September 30 on November 4 in its third-quarter results release.
Global comparable sales increased 1.5%, supported by a 1.4% increase in International Operated Markets and a 4.2% rise in International Developmental Licensed Markets. In the United States, comparable sales declined 0.2%, the first decrease after five quarters of growth. Consolidated revenue increased 1% to 7.16 billion U.S. dollars.
Profit Growth Outpaced Revenue
McDonald's reported diluted earnings per share of 3.51 U.S. dollars, up 10% from the year-earlier quarter. Excluding 0.06 U.S. dollars per share related to restructuring charges, adjusted diluted earnings per share reached 3.57 U.S. dollars and increased 11% in constant currency.
Operating income rose 7%, while adjusted operating income increased 8%. The result included 56 million U.S. dollars of current-year pre-tax restructuring charges tied to the Accelerating the Organization initiative. The company also raised its quarterly cash dividend by 4% to 1.93 U.S. dollars per share.
Reuters said on November 4 that promotions and marketing were helping bring diners back to McDonald's in the United States. CEO Chris Kempczinski told the news agency that traffic trends improved in September and October, while the company highlighted entry-level meal deals, Extra Value Meals and renewed digital offers. Reuters also reported that restaurant visits were still below the prior-year level in the quarter.
Value Menus Set The Next Test
McDonald's began an eight-week test of two everyday value menus in late October at about 1,900 U.S. restaurants. Franchisees operating about 4,000 additional restaurants have introduced similar bundles, bringing the participating group to more than 40% of the U.S. system, according to Trefis.
Management aims to select a program for a nationwide launch in early 2027. Trefis said sales from the new menus were not yet available after only one week of testing, making franchisee economics and sustained traffic the key issues for investors. McDonald's expects mid-single-digit food and paper cost inflation in 2027, which could limit the benefit of lower-priced bundles.
McDonald's stock traded at 249.90 euros on Lang & Schwarz at 13:33 CET on Wednesday, November 11, 2026.
McDonald's Corporation At A Glance
- Company: McDonald's Corporation
- ISIN: US5801351017
- Stock ticker: MCD
- Home exchange: New York Stock Exchange
- Lang & Schwarz quote: 249.90 euros on Wednesday, November 11, 2026, at 13:33 CET
- Third-quarter period: Ended September 30, 2026
The U.S. recovery remains the central market backdrop for McDonald's stock, with the S&P 500 providing the relevant broader index context.
Investors are likely to focus next on the value-menu tests, cost pressure and the company's fourth-quarter results expected in February 2027. More news and analyses on McDonald's stock.
