McDonald's investors await Q2 results as $5 meal deal extends through summer

Yahoo Finance07-26

McDonald's (MCD) investors are looking for signs of growth in Q2 after consumers have been grappling with paying up for their Big Mac. The Golden Arches is set to report its Q2 earnings Monday before...

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In an environment where diners are hyper-focused on getting the best deals, fast food restaurants have introduced a flurry of limited-time bundle deals. McDonald's recently announced plans to extend its $5 meal deal through August.The food giant is expected to post revenue of $6.63 billion, up 2.01% year over year, with adjusted earnings of $3.07, per Bloomberg consensus data. Same-store sales are expected to pop just 0.84%.McDonald's had a very successful Q2 last year, when the Grimace Shake promotion stole the show. That performance will be hard to beat. The chain posted Q1 results that missed revenue growth and same-store sales estimates across its segments, while its earnings also came below expectations.BTIG analyst Peter Saleh told Yahoo Finance the promotion may even be exten","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","QSR":"餐饮品牌国际","BK4566":"资本集团","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","YUM":"百胜餐饮集团","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4588":"碎股","BK4550":"红杉资本持仓","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4581":"高盛持仓","BK4504":"桥水持仓","BK4209":"餐馆","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD"},"translate_title":"麦当劳投资者等待第二季度业绩，5美元餐食优惠延续至夏季","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YUM":0.9,"QSR":0.9},"content_text":"McDonald's (MCD) investors are looking for signs of growth in Q2 after consumers have been grappling with paying up for their Big Mac. \nThe Golden Arches is set to report its Q2 earnings Monday before market open. In an environment where diners are hyper-focused on getting the best deals, fast food restaurants have introduced a flurry of limited-time bundle deals. McDonald's recently announced plans to extend its $5 meal deal through August. \nGiven the deal launched toward the end of the quarter on June 25, Wall Street is setting tempered expectations. \nThe food giant is expected to post revenue of $6.63 billion, up 2.01% year over year, with adjusted earnings of $3.07, per Bloomberg consensus data. Same-store sales are expected to pop just 0.84%. \nIn the US, sales are expected to increase 1.04%, while internationally owned locations are expected to be up 1.85%. Its international franchised locations are expected to see a 0.41% decline. \nMcDonald's had a very successful Q2 last year, when the Grimace Shake promotion stole the show. That performance will be hard to beat. The chain posted Q1 results that missed revenue growth and same-store sales estimates across its segments, while its earnings also came below expectations.\n\"Sentiment here is low, with many believing near-term initiatives around value offering not enough of a traffic lift to offset mix headwinds,\" Citi analyst Jon Tower wrote in a note to clients. \n\"Longer-term investors see valuation as compelling,\" with the company's value plays \"eventually\" working, Tower added. But it's uncertain how long it'll take for US sales growth to \"reaccelerate.\"  \n\"Sentiment on McDonald's is cautious into a tough second quarter print with concerns on weak US and international same-store sales growth,\" Deutsche Bank analyst Lauren Silberman wrote in a client note. \n\n\n\n  A sign advertises meal deals at a McDonald's restaurant on July 22, 2024 in Burbank, Calif. (Mario Tama/Getty Images)\n \n\n  Mario Tama via Getty Images\n \n\nMany have their eyes on McDonald's outlook for the second half of the year, and whether McDonald's can regain momentum in sales growth and foot traffic. \nA bump from its $5 meal deal could help. Per a memo obtained by Yahoo Finance, 93% of all McDonald's restaurants voted to extend the $5 meal deal, originally limited to July. \nThe company's US chief marketing officer, Tariq Hassan, said the deal successfully drove foot traffic back from competitors and boosted the brand's affordable image after several price hikes. Customers drawn in by the deal may try other pricier items too.\nWhen the offering rolled out formally on June 25, foot traffic was down 0.8% that week year over year, per Placer.ai. Traffic was subsequently up 2.8% the week of July 1 and up 2.4% the week of July 8 compared to last year.\n\nBTIG analyst Peter Saleh told Yahoo Finance the promotion may even be extended to September while McDonald's works on a permanent value platform like buy one, get one, or a version of the $1 $2 $3 Dollar Menu.\n\"This is kind of their bridge to that value menu,\" Saleh said prior to the extension announcement. He added that franchisees are learning that the $5 deal, which consists of a choice of McDouble burger or McChicken sandwich, four-piece chicken McNuggets, small fries, and a small soft drink, is \"too narrow\" and \"doesn't allow the customer to have a ton of variety.\"\nA longer run of the $5 deal could also exert pressure on margins. \n\"Franchisees are telling us that ... their margins are being impacted by [the deal], and it's making this a lot less profitable, or in certain cases, not profitable at all,\" Saleh said. Some franchisees are pulling back on marketing for the deal, like video ads on the in-store screen or signage on the windows.\nHere's what Wall Street expects from McDonald's in Q2, per Bloomberg consensus data, compared to Q2 of 2023:\n\nRevenue: $6.63 billion compared to $6.5 billion\nAdjusted earnings per share: $3.07 compared to $3.17\nGlobal same-store sales growth: 0.84% compared to 11.7%\n\nUS same-store sales growth: 1.04% compared to 10.3%\nInternational-owned same-store sales growth: 1.85% compared to 11.9%\nInternational franchised same-store sales growth: -0.41% compared to 14%\n \n\n—\nBrooke DiPalma is a senior reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.\nClick here for all of the latest retail stock news and events to better inform your investing strategy","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454347853"}