McDonald’s restaurant in El Sobrante, California on October 23, 2024.
David Paul Morris | David Paul Morris Bloomberg | Getty Images
McDonald’s It is expected to release third-quarter earnings before the market closes on Tuesday.
Here’s what Wall Street analysts surveyed by London Stock Exchange Group (LSEG) expected from the company’s report:
- Earnings per share: Estimate $3.20
- Revenue: $6.82 billion
The earnings report comes a week after the U.S. Centers for Disease Control and Prevention issued an advisory warning of a deadly E. coli outbreak linked to McDonald’s Quarter Pounder burgers. The company said Sunday that after temporarily pulling the menu item from about one-fifth of its U.S. restaurants, the burger will return to affected locations without the shredded onions.
Health authorities have cleared the chain’s fresh beef patties as the source of the outbreak, with the investigation focusing on onion strips included in the menu item. As of Friday, 75 health cases have been linked to the outbreak, including the death of an elderly person.
Even before the pandemic, McDonald’s sales had been lagging. Analysts expect the company’s third-quarter same-store sales to fall 0.6% due to weak international demand, according to StreetAccount estimates.
McDonald’s has been rolling out value menus and combos in some of its largest markets as inflation-weary consumers eat out less. In the United States, the company launched a $5 meal plan at the end of June, and its same-store sales are expected to grow 0.5%.
McDonald’s shares have fallen 6% since it was first linked to the E. coli outbreak. The stock is roughly flat so far this year. McDonald’s has a market capitalization of approximately $210 billion.
This story is developing. Please check back for updates.
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