In an aerial view, a sign is posted in front of a McDonald’s restaurant on April 03, 2023 in San Pablo, California.
Justin Sullivan | Getty Images
McDonald’s is set to announce its second-quarter financial results before the market opens on Thursday.
Here’s what analysts from Wall Street, surveyed by Refinitiv, anticipate:
- Earnings per share: Expected at $2.79
- Revenue: Expected at $6.27 billion
Renowned as a key benchmark for the restaurant industry and the wider consumer landscape, McDonald’s faces high expectations for its second-quarter performance. According to StreetAccount estimates, the company is projected to achieve a 9.2% growth in same-store sales.
The chain is likely to experience a surge in sales attributed to its Grimace Birthday Meal, which gained popularity on social media towards the end of the quarter. This meal combo, featuring a visually appealing purple milkshake, went viral due to the nostalgic appeal of the McDonaldland character.
However, McDonald’s executives have adopted a more cautious approach for the burger chain. In the previous quarter, CEO Chris Kempczinski mentioned encountering resistance from customers regarding price hikes. He also warned about potential economic downturns impacting the United States and Europe later in the year.
This year, McDonald’s shares have seen a 10% increase, trailing behind the 18% rise of the S&P 500 in the same period. With a market value of $213 billion, McDonald’s solidifies its position as a major player in the industry.
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