McDonald’s Is Expected To Report Earnings. Here’s A Forecast
by Shahnawaz Alam Business 30 October 2023
Famous Fast Food Chain McDonald’s is about to report the third quarter earnings of the company. It is expected to report its earnings before the bell on Monday. Here’s what Wall Street analysts surveyed by LSEG.
Here is what the Wall Street analysts surveyed by LSEG are expecting to see –
- Earnings per each share: $3, expected
- Revenue: $6.58 billion, as expected
This year, the shares of McDonald’s have fallen by 3%, which dragged down the market value of the company to $186 billion. However, the stock was still struggling this year.
In the past three months, the stock has tumbled by 14%. The stocks have been affected by other broader economic worries like a high interest rate, currency exchange rate, and a prolonged concern about weight loss medications like Wegovy, which have been persistent.
However, for the third quarter, Wall Street holds high expectation for McDonalds. Analysts have positive expectations, according to the StreetAccount estimates. They are expecting a 7.8% same-store sales growth. McDonald’s has reported a potent demand in Europe and in the U.S. as Consumers are trading down for fast food meals. McDonald’s also has an investor update coming up in Chicago on the coming December 6.