Quarterly results top expectations
McDonald’s reported fourth-quarter earnings and revenue above Wall Street expectations, driven by strong customer response to its renewed focus on value and promotions.
The company posted adjusted earnings per share of $3.12, exceeding the $3.05 expected by analysts. Revenue reached $7 billion, ahead of the $6.84 billion forecast.
Net income rose to $2.16 billion, or $3.03 per share, compared with $2.02 billion, or $2.80 per share, a year earlier. Excluding restructuring charges and other items, earnings came in at $3.12 per share. Net revenue increased 10% year over year.
Same-store sales rebound strongly
Global same-store sales climbed 5.7%, beating projections of 3.9%. U.S. same-store sales jumped 6.8%, recovering sharply from a 1.4% decline a year earlier, when an E. coli outbreak weighed on traffic.
Management credited high-profile promotions such as the Grinch meal and Monopoly campaign. The Grinch offering temporarily made McDonald’s the world’s largest sock seller, moving 50 million pairs globally within days. The promotion also drove the company’s highest single-day sales on record.
The relaunch of Extra Value Meals, offering approximately 15% discounts on combo meals, further supported traffic growth.
International markets contribute
Outside the U.S., performance remained solid. The international operated markets segment, including Germany and Australia, posted same-store sales growth of 5.2%. The international developmental licensed markets division reported a 4.5% increase.
Looking ahead, executives expect a softer first quarter compared with the strong fourth quarter, partly due to winter storms that temporarily disrupted operations. However, management described 2026 as off to a solid start.
Expansion and menu innovation in focus
For 2026, McDonald’s plans capital expenditures between $3.7 billion and $3.9 billion, primarily to open approximately 2,600 new restaurants. Around 750 openings will be in the U.S. and key operated markets, while affiliates and licensees are expected to add more than 1,800 units elsewhere.
The company is also preparing significant menu innovation. New beverages, including energy drinks and crafted sodas, will launch later this year following learnings from its CosMc’s spinoff and a 500-store test. Chicken offerings are being expanded through limited tests of hand-breaded strips, wings and grilled sandwiches.
Additionally, McDonald’s is evaluating menu options tailored to consumers using GLP-1 medications, while highlighting the protein content of existing offerings.
