McDonald's Q3 Earnings Beat Sends Shares Up 5% Despite Slight U.S. Sales Decline

McDonald's posted third-quarter 2026 results on November 4 that beat profit estimates and lifted restaurant stocks broadly, even as domestic comparable sales edged lower. Adjusted earnings per share came in at $3.57, a 5.6% beat above the consensus estimate of $3.38, while diluted EPS was $3.51. Revenue of $7.16 billion rose 1.1% year over year but fell short of the $7.30 billion analysts had expected.

Global comparable sales grew 1.5% for the quarter, with International Operated Markets posting positive results led by Germany and Australia, partly offset by weakness in France. International Developmental Licensed Markets were also positive, led by Japan but tempered by negative comparable sales in China. U.S. comparable sales declined 0.2%, as negative guest counts were largely offset by positive check growth. Global systemwide sales rose 4% to over $38 billion for the quarter, and loyalty program sales across 70 markets reached more than $11 billion for the period.

McDonald's shares climbed 5% to $275.24 in morning trading following the report. The earnings-driven optimism spread to peers, with Chipotle rising 4% and Starbucks gaining 3%.