McDonald’s beats quarterly global sales estimates as value bets pay off

Published Thu, Feb 12, 2026 · 06:18 AM

MCDONALD’S topped Wall Street estimates for fourth-quarter global comparable sales and profit on Wednesday, as meal deals and strong marketing promotions pulled in budget-strapped US diners and demand held firm in Australia and Britain.

Global same-store sales at the largest US burger chain rose 5.7 per cent in the three months ended Dec 31, outpacing analysts’ average estimate of a 3.7 per cent increase, according to data compiled by LSEG.

McDonald’s has posted rising sales when many restaurant operators are struggling to retain traffic as consumers have tightened their belts.

Cheaper options have fared better than the rest.

Taco Bell same-store sales rose 7 per cent in the latest quarter and KFC sales grew 3 per cent, parent company Yum Brands said last week. Meanwhile, sales at the higher-priced Chipotle Mexican Grill declined 1.7 per cent, the company reported earlier in February.

McDonald’s, which operated more than 43,400 restaurants worldwide at the end of 2024, earned US$3.12 per share on an adjusted basis, topping expectations of US$3.05.

In October, McDonald’s brought back its Monopoly tie-in after nearly a decade, followed by a slate of value offers in November including US$5 breakfast and US$8 meal options for lunch and dinner. In December, the company added a holiday-themed Grinch meal as a limited-time draw.

“McDonald’s value leadership is working,” CEO Chris Kempczinski said in a statement on Wednesday.

A faster rise in prices at restaurants compared to groceries in recent months, largely due to higher labour and utility costs, has also forced diners, particularly those in lower-income households, to cut back on eating out, intensifying competition among fast-food chains.

“McDonald’s has to continue to grind away with marketing and value promotions that keep traffic positive and growing,” said Jim Sanderson, analyst at Northcoast Research.

Comparable sales in the US, McDonald’s largest market, rose 6.8 per cent in the October to December period, marking its third consecutive quarter of growth, compared with a 1.4 per cent dip a year earlier, when an E. coli outbreak dented demand. Analysts were estimating a 4.9 per cent rise.

Sales in its business segment, where restaurants are operated by local partners, jumped 4.5 per cent, led by Japan, while international market sales rose 5.2 per cent, driven by demand in Britain, Germany and Australia.

The company reported a 10 per cent jump in revenue to US$7.01 billion, while net income grew 7 per cent to US$2.16 billion.

McDonald’s expects to spend US$3.7 billion to US$3.9 billion on capital expenditures in 2026, mostly on new units, and plans to open about 2,600 restaurants globally, including roughly 750 in the US and international-operated markets.

It forecast operating margin to be in the mid-to-high 40 per cent range for the year, compared to 46.1 per cent in 2025.

“Global cost inflation remains a headwind that will pressure margin expansion without consistent traffic growth that drives operating leverage across the P&L,” Sanderson said.

Shares of the company were down 1 per cent in trading after the bell.

Beverage bet grows

McDonald’s is also pushing deeper into the fast-growing beverage segment, which executives have said are more profitable and can drive visits.

Late last year, the burger chain tested a broader drink lineup at 500 restaurants in Wisconsin, Colorado and nearby markets, offering cold coffees, crafted sodas and energy-style drinks popular with younger consumers.

Executives are expected to outline the results of the pilot on the earnings call later in the evening.

Analysts at BTIG said an expected full national launch could provide a meaningful lift to same-store sales and traffic, giving McDonald’s another lever to drive visits beyond its value promotions. REUTERS