More from MCD Q2 2026

McDonald's Corporation

MCD2026 Q2Consumer

1mo

U.S. Q2 execution breakdown across value, deployments, and marketing

Management said U.S. comparable sales grew 0.8% in Q2 and was below expectations while emphasizing there is no strategy problem, only execution.
Chris identified inconsistent execution across restaurants for the EDAP menu as a key contributor to weaker restaurant level results.
He attributed service time increases and declining satisfaction scores to restaurant teams being overwhelmed by too many complicated deployments.
Ian tied a significant portion of the U.S. traffic underperformance to EDAP value execution factors and a “bad trade” involving digital offer pullbacks and removing Buy One, Add One for $1.
Management linked marketing underperformance to programs not delivering against expectations, while also explaining that it’s difficult to change the marketing calendar during Q3.

McDonald's Corporation

MCD2026 Q2Consumer

1mo

Financial Performance Summary

Adjusted EPS was $3.38 in Q2, including a $0.03 foreign currency translation benefit; on a constant currency basis, this was a 5% increase vs. the prior year.
Company expects G&A to be about 2.2% of system-wide sales for full year 2026; management is focused on lowering G&A via global systems investments beginning to pay off in 2027.
For the first half of 2026, system-wide sales grew 5% in constant currency and global comparable sales increased 2.5%.
General and administrative expenses were 2.2% of system-wide sales, consistent with expectations for the quarter; biennial worldwide convention expenses were included.
Restaurant margins were more than $4 billion in Q2; year-to-date adjusted operating margin was 46.9%.
System-wide sales grew 4% in constant currency in Q2; global comparable sales grew 1.3%.
U.S. comparable sales grew 0.8% in Q2 (and 2.3% for the first half), described as below expectations.

McDonald's Corporation

MCD2026 Q2Consumer

1mo

U.S. comps +0.8%

U.S. comparable sales materially missed expectations despite restored value leadership

Management said the U.S. posted comparable sales growth of 0.8% in Q2, which was below expectations, even as it asserted value and affordability leadership had been restored at a high level.

More from MCD Q2 2026

McDonald's Corporation

MCD2026 Q2Consumer

1mo

U.S. Q2 execution breakdown across value, deployments, and marketing

Management said U.S. comparable sales grew 0.8% in Q2 and was below expectations while emphasizing there is no strategy problem, only execution.
Chris identified inconsistent execution across restaurants for the EDAP menu as a key contributor to weaker restaurant level results.
He attributed service time increases and declining satisfaction scores to restaurant teams being overwhelmed by too many complicated deployments.
Ian tied a significant portion of the U.S. traffic underperformance to EDAP value execution factors and a “bad trade” involving digital offer pullbacks and removing Buy One, Add One for $1.
Management linked marketing underperformance to programs not delivering against expectations, while also explaining that it’s difficult to change the marketing calendar during Q3.

McDonald's Corporation

MCD2026 Q2Consumer

1mo

Financial Performance Summary

Adjusted EPS was $3.38 in Q2, including a $0.03 foreign currency translation benefit; on a constant currency basis, this was a 5% increase vs. the prior year.
Company expects G&A to be about 2.2% of system-wide sales for full year 2026; management is focused on lowering G&A via global systems investments beginning to pay off in 2027.
For the first half of 2026, system-wide sales grew 5% in constant currency and global comparable sales increased 2.5%.
General and administrative expenses were 2.2% of system-wide sales, consistent with expectations for the quarter; biennial worldwide convention expenses were included.
Restaurant margins were more than $4 billion in Q2; year-to-date adjusted operating margin was 46.9%.
System-wide sales grew 4% in constant currency in Q2; global comparable sales grew 1.3%.
U.S. comparable sales grew 0.8% in Q2 (and 2.3% for the first half), described as below expectations.

McDonald's Corporation

MCD2026 Q2Consumer

1mo

U.S. comps +0.8%

U.S. comparable sales materially missed expectations despite restored value leadership

Management said the U.S. posted comparable sales growth of 0.8% in Q2, which was below expectations, even as it asserted value and affordability leadership had been restored at a high level.

McDonald's Corporation Earnings Quote from Christopher Kempczinski

More from MCD Q2 2026

McDonald's Corporation 2026 Q2: U.S. Q2 execution breakdown across value, deployments, and marketing

McDonald's Corporation 2026 Q2: Financial Performance summary

More from MCD Q2 2026

More from MCD Q2 2026

McDonald's Corporation 2026 Q2: U.S. Q2 execution breakdown across value, deployments, and marketing

McDonald's Corporation 2026 Q2: Financial Performance summary