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The McDonald’s logo appears in Los Angeles, California.
Lucy Nicholson | Reuters
McDonald’s It is expected to report its third-quarter earnings before the bell on Wednesday.
Here’s what Wall Street analysts surveyed by LSEG expect the company to announce:
- Earnings per share: $3.33 expected
- Revenue: $7.1 billion expected
The fast food giant, often seen as a leader in consumer financial health, has spent more than a year sounding the alarm about declining spending from low-income people. But Wall Street expects McDonald’s to report same-store sales growth for the second straight quarter, showing that its value strategy is winning over customers.
At the beginning of the third quarter, McDonald’s Snack Wraps returned to menus for the first time in nine years. In September, the chain brought back its extra value meals, which it last promoted before the COVID-19 pandemic.
Analysts expect McDonald’s to report global store sales growth of 3.5%, according to StreetAccount estimates. Wall Street expects the burger chain’s international markets to outperform the U.S., where same-store sales are expected to grow 1.9%.
McDonald’s stock has risen just 3% this year, as investor concerns about the restaurant industry and the broader economy weighed on the stock. The company’s market value is more than $212 billion.
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