A McDonald's restaurant is seen on July 22, 2024 in Burbank, California.
Mario Tama | Getty Images
McDonald's It is expected to report second-quarter earnings before the open on Monday.
Here's what Wall Street analysts surveyed by LSEG expect the company to report:
- Earnings per share: $3.07 was expected
- Revenue:$6.61 billion expected
Shares of the burger chain have fallen 15% year to date, driven by investor concerns about the health of consumer spending and the restaurant industry.
McDonald's executives have warned that restaurants are fighting for a smaller pool of customers and many have been rolling out value meals to steal market share. In the United States, McDonald's has been offering $5 meals for the past month to attract more customers; on Monday, the company told its U.S. system that it plans to extend the promotion.
But those discounts only took effect at the end of the chain's second quarter. Wall Street expects the company to report that U.S. same-store sales were flat during the period, according to StreetAccount estimates. A year ago, McDonald's same-store sales rose 10.3%, thanks to its viral promotion featuring the Grimace mascot.
Outside the United States, McDonald's is likely to continue to suffer from declining sales in the Middle East due to boycotts. At the beginning of the second quarter, the company bought all 225 restaurants operated by its Israeli franchisee.
