Delivery couriers are seen near McDonald’s restaurant in Krakow, Poland on April 12, 2023.
Jakub Porzycki | Nurphoto | Getty Images
McDonald’s is expected to report its first-quarter earnings before the bell on Tuesday.
Here’s what Wall Street analysts surveyed by Refinitiv are expecting the company to report:
- Earnings per share: $2.33 expected
- Revenue: $5.59 billion expected
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The fast-food giant is expected to report same-store sales growth of 8%, according to StreetAccount estimates. But investors will likely focus more on what executives can share about how the current quarter is going.
McDonald’s is often seen as a bellwether for the broader restaurant industry and consumer spending.
Investors will also be looking for updates on the company’s strategy and recent layoffs. McDonald’s said in January that it is accelerating new restaurant development and reorganizing its corporate structure. Its reorganization included slashing hundreds of jobs earlier this month.
In late January, CEO Chris Kempczinski said the company is predicting a “mild to moderate” recession in the U.S. and a “deeper and longer” downturn in Europe. Fast-food chains like McDonald’s typically fare better than other restaurants during economic downturns due to their lower prices.
Shares of McDonald’s have risen 11% this year, giving the company a market value of $214 billion.
This is breaking news. Please check back for updates.
