McDonald’s is about to report earnings. Here’s what to expect


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A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California.
Justin Sullivan | Getty Images

McDonald’s is expected to report its fourth-quarter earnings before the bell Tuesday.

Here’s what analysts surveyed by Refinitiv are expecting the company to report:

  • Earnings per share: $2.45 expected
  • Revenue: $5.69 billion expected

The Chicago-based fast food company is considered a bellwether for the broader restaurant industry and general consumer spending trends. This time around, it’s also reporting its earnings ahead of the pack, setting expectations for what other publicly traded restaurant chains will report for the quarter.

Analysts are generally expecting strong demand for McDonald’s in the U.S. and more resilience in Europe than previously anticipated. But the primary focus will be on the company’s expectations for 2023.

Executives have previously discussed how macroeconomic challenges such as inflation and interest rate hikes have put pressure on the business. So far, the fast-food giant has navigated those trials with relative ease as consumers have traded down to its Big Macs and McNuggets from full-service restaurants.

Wall Street is forecasting earnings growth of 6.5% and revenue growth of 3.8% in 2023.

Shares of McDonald’s have risen 5.8% in the last 12 months, giving it a market value of $209 billion.

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