McDonald’s US sales top forecasts as it continues value push amid ‘challenging environment’

McDonald’s (MCD) on Wednesday reported US same-store sales that topped forecasts for the second-straight quarter as it continues to focus on value offerings amid what the company called a “challenging environment.”

The company reported its US same-store sales increased 2.5% over last year during the quarter, driven by higher check growth. That’s more than the 2.2% Wall Street expected and in line with the 2.5% growth seen in the prior quarter, according to Bloomberg data.

Global same-store sales increased 3.6% during the quarter, in-line with estimates after a 3.8% rise in Q2.

Adjusted earnings per share tallied $3.22, less than the $3.32 that was expected, on revenue of $7.1 billion, in line with estimates.

“We’re fueling momentum by delivering everyday value and affordability, menu innovation, and compelling marketing that continue to bring customers through our doors,” CEO Chris Kempczinski said in a release.

McDonald’s reported its systemwide sales, which includes both company-operated and franchised locations, grew 6%.

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During the third quarter, McDonald’s announced the return of the Snack Wrap and struck a deal with its US franchisees to lower the cost of some combo meals as fast food companies continue to compete on broader value offerings, with consumer wallets stretched by inflation and a softening labor market.

On its most prior earnings call, McDonald’s CFO Ian Borden told investors, “Consumer headwinds are … certainly [expected] to persist through the remainder of the year.” The company did, however, reaffirm its 2025 targets.

“We said up front at the beginning of the year that we thought the back half of the year would be stronger than the front half of the year,” Borden said in August. “I think that remains our belief.”

Wall Street is optimistic that the company’s recent actions turned the tide to win back consumers.

Citi analyst Jon Tower wrote in a note to clients, “Drivers into the fourth quarter and 2026 remain in place for US sales to re-accelerate.”

Other catalysts Wall Street is keeping an eye on include the return of the Monopoly game, both digitally and physically, after being sidelined for nearly a decade, alongside the addition of new drinks inspired by McDonald’s short-lived CosMc beverage concept.

Brooke DiPalma is a reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.

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