McDonald’s (MCD) reports mixed Q2 2026 results as adjusted earnings beat estimates while revenue falls slightly short.
Stock Earnings Results
August 4, 2026
Table of Contents
August 4, 2026
McDonald’s Corporation (NYSE: MCD) reported second-quarter 2026 results with adjusted earnings above expectations, higher comparable sales across all segments, stronger systemwide sales, continued loyalty growth, and a new U.S. leadership appointment, though revenue came in slightly below estimates.
McDonald’s is the world’s largest global foodservice retailer, with more than 45,000 locations in over 100 countries. About 95% of its restaurants are owned and operated by independent local business owners.
The company reported adjusted diluted EPS of $3.38, above estimates of $3.32, representing a 1.8% earnings surprise. Revenue came in at $7.10 billion, below estimates of $7.14 billion, though revenue growth was 3.7%.
Consolidated revenues increased 4% year-over-year to $7.10 billion.
Operating income increased 3% to $3.34 billion.
Net income increased 5% to $2.36 billion.
GAAP diluted EPS increased 6% to $3.32.
Adjusted diluted EPS increased 6% to $3.38.
The adjusted EPS figure excluded $0.06 per share of charges primarily related to McDonald’s Accelerating the Organization restructuring program.
Global comparable sales increased 1.3%.
U.S. comparable sales increased 0.8%.
International Operated Markets comparable sales increased 1.5%.
International Developmental Licensed Markets comparable sales increased 1.9%.
McDonald’s said every segment delivered positive comparable sales growth during the quarter.
U.S. comparable sales increased 0.8%.
The company said U.S. results were driven by positive check growth, including favorable product mix.
That was partly offset by negative comparable guest counts.
The result shows McDonald’s still generated higher comparable sales in its largest market, but traffic remained a pressure point.
International Operated Markets comparable sales increased 1.5%.
Most markets in that segment posted Growth
International Operated Markets comparable sales increased 1.5%.
Most markets in that segment posted positive comparable sales, led by Germany, Australia, and the U.K.
That was partly offset by weakness in France.
International Developmental Licensed Markets comparable sales increased 1.9%.
That segment was led by Japan, with all geographic regions showing positive comparable sales.
China remained a pressure point, with negative comparable sales.
Global systemwide sales increased 5% to $37 billion.
Across 70 loyalty markets, systemwide sales to loyalty members increased more than 20% over the trailing twelve months to $40 billion.
McDonald’s also reported nearly 220 million 90-day active loyalty users at quarter-end.
That was up 13% from the prior year.
The loyalty growth remains important because digital engagement, repeat usage, delivery, and app-based promotions are key parts of McDonald’s long-term growth strategy.
Revenue from franchised restaurants increased 4% to $4.39 billion.
Sales from company-owned and operated restaurants increased 3% to $2.53 billion.
Other revenues increased 6% to $182 million.
Total operating costs and expenses increased 4% to $3.76 billion.
Selling, general and administrative expenses increased, partly offsetting the benefit from higher sales-driven franchised margins and higher other operating income.
McDonald’s appointed Skye Anderson as President of McDonald’s USA.
The company said Anderson is a proven McDonald’s executive with deep system knowledge and operational discipline.
CEO Chris Kempczinski said the company sees an opportunity to raise execution in the U.S. and accelerate performance in its largest market.
The leadership change adds another focus point for investors watching U.S. traffic, value messaging, franchisee execution, and operating consistency.
McDonald’s delivered a mixed but steady quarter.
Adjusted EPS beat expectations, comparable sales increased across all segments, systemwide sales rose, and loyalty engagement continued to grow. The company also made a leadership change in its largest market, signaling a sharper focus on U.S. execution.
The key issue is that revenue missed estimates and U.S. comparable sales growth was driven by check growth rather than higher guest counts.
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