McDonald's stock faces U.S. traffic test as value rollout nears

Published on 11/12/2026 at 14:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

McDonald's stock traded at 248.95 euros on Lang & Schwarz on Thursday, November 12, 2026. The company plans a national value program in early 2027 after an eight-week test.

Value tests target U.S. traffic

McDonald's U.S. comparable sales fell 0.2% in the third quarter, although sales turned positive in September.
The company is testing mix-and-match and fixed bundles before a planned national value program in early 2027.
International markets and higher operating income supported the quarter despite weaker U.S. demand.

McDonald’s, US5801351017, Illustration mit AI erstellt.

McDonald's is widening its U.S. value strategy after a mixed third quarter. The company began testing two affordable menu formats in late October, according to Restaurant Dive. The initiative follows the company's November 4 earnings release for the quarter ended September 30.

The eight-week trial covers about 1,900 U.S. restaurants and includes mix-and-match bundles as well as fixed combinations. Franchisees representing about 4,000 additional restaurants have introduced similar entry-level offers ahead of the formal test results. Management plans to use the outcome to shape a national value program in early 2027.

U.S. traffic remains the pressure point

McDonald's reported a 0.2% decline in U.S. comparable sales for the third quarter. The company said domestic performance improved as the period progressed, with comparable sales turning positive in September. Digital promotions, greater emphasis on entry-level meals and renewed focus on restaurant execution supported that improvement.

The broader earnings picture was stronger outside the United States. Global comparable sales increased 1.5%, including growth of 1.4% in International Operated Markets and 4.2% in International Developmental Licensed Markets. Consolidated revenue increased 1%, while operating income rose 7%.

Adjusted operating income increased 8%, while diluted earnings per share rose 10% to USD 3.51. Excluding current-year restructuring charges of USD 0.06 per share, adjusted diluted earnings per share was USD 3.57. McDonald's also raised its quarterly cash dividend by 4% to USD 1.93 per share, according to the company's third-quarter results release.

Affordability must protect margins

The menu tests are intended to restore customer frequency without weakening restaurant economics. The company said earlier digital offers produced incremental guest counts and sales, while sales of its leading Extra Value Meal combinations increased 7% year over year. Investors will therefore watch both traffic and franchisee profitability as the test progresses.

McDonald's stock traded at 248.95 euros on Lang & Schwarz at 14:07 CET on Thursday, November 12, 2026, 0.46% above the Xetra close of 247.80 euros on Wednesday, November 11. The near-term share focus is likely to remain on evidence that value offers create additional visits rather than merely shift customers toward lower-priced meals.