Business

McDonald’s (MCD) Q3 2021 earnings


People wear protective face masks outside McDonald’s in Union Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 30, 2020 in New York City.

Noam Galai | Getty Images

McDonald’s is expected to report its third-quarter results before the bell on Wednesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting:

  • Earnings per share: $2.11 expected
  • Revenue: $5.6 billion expected

The fast-food giant has seen a swift recovery at its U.S. business, but its international markets have taken longer to recover, dragged down by new rounds of restrictions and lockdowns. Last quarter, the company said its U.S. same-store sales outpaced 2019 levels, a trend that executives expect to return this quarter.

The chain’s “famous orders” promotion with BTS, the K-pop supergroup, is expected to help it attain that goal. McDonald’s began rolling out the promotion in late May across nearly 50 countries. Analysts are also expecting strong sales of the chain’s chicken sandwich, which launched nationwide in February.

For all of 2021, the company is expecting systemwide sales growth in the mid-teens.

Shares of the company have risen 14% this year, giving it a market value of $189 billion.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button