McDonald's — Third Quarter 2026 Earnings Summary

Financial Performance:

• Global systemwide sales increased 4% to over $38 billion for the quarter.
• Consolidated revenues increased 1% to $7,157 million (1% in constant currencies) for the quarter, compared to $7,078 million in the prior year.
• Consolidated operating income increased 7% to $3,595 million (7% in constant currencies) for the quarter, compared to $3,357 million in the prior year.
• Excluding pre-tax restructuring charges of $56 million in the current year and $39 million in the prior year, consolidated operating income increased 8% (8% in constant currencies).
• Diluted earnings per share (EPS) was $3.51, an increase of 10% (11% in constant currencies) compared to $3.18 in the prior year.
• Excluding current year charges of $0.06 per share and prior year charges, diluted EPS was $3.57, an increase of 11% (11% in constant currencies).
• Net income increased 9% to $2,486 million for the quarter, compared to $2,278 million in the prior year.
• For the nine months ended September 30, 2026, consolidated revenues increased 5% to $20,773 million (2% in constant currencies), operating income increased 7% to $9,887 million (5% in constant currencies), and net income increased 7% to $6,831 million (5% in constant currencies).
• Nine-month diluted EPS was $9.61, an increase of 8% (6% in constant currencies) compared to $8.92 in the prior year.
• Net pre-tax charges of $56 million ($0.06 per share) were recorded for the quarter and $155 million ($0.17 per share) for the nine months, primarily related to restructuring charges associated with "Accelerating the Organization."

Business Segments and Product Lines:

• Global comparable sales increased 1.5% for the quarter.
• U.S. comparable sales decreased 0.2%, driven by negative comparable guest counts largely offset by positive check growth.
• International Operated Markets comparable sales increased 1.4%, led by Germany and Australia, partly offset by France.
• International Developmental Licensed Markets comparable sales increased 4.2%, led by Japan, partly offset by negative comparable sales in China.
• Systemwide sales to loyalty members across 70 markets were $41 billion for the trailing twelve-month period and more than $11 billion for the quarter.
• Revenues from franchised restaurants increased 3% to $4,487 million for the quarter.
• Sales by Company-owned and operated restaurants decreased 3% to $2,480 million for the quarter.
• Other revenues increased 26% to $189 million for the quarter.

Other Key Points:

• The Company declared a 4% increase in its quarterly cash dividend to $1.93 per share.
• Results for the quarter and nine months were primarily driven by higher Other operating income and higher sales-driven Franchised margins, partly offset by higher Selling, general and administrative expenses for the nine months.
• Approximately 95% of McDonald's restaurants worldwide are owned and operated by independent local business owners.
• The Company has over 45,000 locations in over 100 countries.