---
title: "McDonald's | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 7.099 B"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294811547.md"
datetime: "2026-08-04T11:04:32.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294811547.md)
  - [en](https://longbridge.com/en/news/294811547.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294811547.md)
generator: "portal-rs"
---

# McDonald's | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 7.099 B

Revenue: As of FY2026 Q2, the actual value is USD 7.099 B, missing the estimate of USD 7.127 B.

EPS: As of FY2026 Q2, the actual value is USD 3.32, missing the estimate of USD 3.3367.

EBIT: As of FY2026 Q2, the actual value is USD 3.332 B.

### Net Income

For the second quarter ended June 30, 2026, McDonald’s Corporation reported GAAP net income of $2,362 million, an increase of 5% (4% in constant currencies) compared to $2,253 million in the prior year period. Non-GAAP net income for the quarter was $2,402 million, up 5% (4% in constant currencies) from $2,286 million in the prior year. Foreign currency translation positively impacted diluted earnings per share by $0.03 for the quarter. Net pre-tax charges related to Accelerating the Organization were $52 million, or $0.06 per share, for the quarter ended June 30, 2026, and $43 million, or $0.05 per share, for the same period in 2025.

For the six months ended June 30, 2026, GAAP net income increased 5% (3% in constant currencies) to $4,345 million, from $4,121 million in the prior year period. Non-GAAP net income for the six months was $4,421 million, an increase of 5% (2% in constant currencies) from $4,206 million in the prior year. Foreign currency translation had a positive impact of $0.17 on diluted earnings per share for the six months. Net pre-tax charges for Accelerating the Organization were $99 million, or $0.11 per share, for the six months ended June 30, 2026, and $109 million, or $0.12 per share, for the same period in 2025.

### Dividends and Share Repurchases

During the second quarter, McDonald’s Corporation paid a dividend of $1.86 per share, totaling $1.3 billion. Total dividends paid for the six months amounted to $2.6 billion. The company repurchased 3.0 million shares of stock for $858 million during the quarter, bringing total repurchases for the six months to 4.2 million shares, or $1.3 billion.

### Revenues

Total revenues for the quarter ended June 30, 2026, were $7,099 million, compared to $6,843 million in the prior year period. For the six months ended June 30, 2026, total revenues were $13,616 million, up from $12,799 million in the prior year. Total Franchised revenues and Company-owned and operated sales increased 4% (2% in constant currencies) for the quarter, reaching $6,917 million, and increased 6% (3% in constant currencies) for the six months, totaling $13,241 million.

-   **Franchised revenues** for the quarter were $4,393 million, an increase of 4% (3% in constant currencies), and for the six months were $8,399 million, an increase of 7% (4% in constant currencies).
-   **Company-owned and operated sales** were $2,525 million for the quarter, up 3% (flat in constant currencies), and $4,842 million for the six months, up 5% (1% in constant currencies).
-   **Other revenues** totaled $182 million for the quarter, an increase of 6% (5% in constant currencies), and $375 million for the six months, an increase of 12% (11% in constant currencies).

### Restaurant Margins

Total restaurant margins for the quarter ended June 30, 2026, were $4,099 million, an increase of 4% (3% in constant currencies) from $3,939 million in the prior year. For the six months ended June 30, 2026, total restaurant margins were $7,716 million, up 6% (3% in constant currencies) from $7,254 million in the prior year. Franchised margins, which represented approximately 90% of restaurant margin dollars, increased 4% (3% in constant currencies) to $3,713 million for the quarter, and 7% (4% in constant currencies) to $7,044 million for the six months. Company-owned and operated margins for the quarter were $387 million, up 2% (flat in constant currencies), and for the six months were $672 million, up 3% (-1% in constant currencies).

### Selling, General & Administrative Expenses

Selling, general and administrative expenses increased $117 million, or 17% (16% in constant currencies), to $817 million for the quarter ended June 30, 2026, and $193 million, or 14% (12% in constant currencies), to $1,576 million for the six months. These expenses represented 2.2% of Systemwide sales for the six months ended June 30, 2026, compared to 2.1% in the prior year period.

### Other Operating (Income) Expense, Net

Other operating (income) expense, net for the quarter ended June 30, 2026, was - $37 million, compared to $29 million in the prior year. For the six months, it was - $106 million, compared to $36 million in the prior year. This includes gains on sales of restaurant businesses of - $40 million for the quarter and - $70 million for the six months in 2026, and - $7 million and - $15 million in 2025, respectively. Equity in earnings of unconsolidated affiliates was - $60 million for the quarter and - $122 million for the six months in 2026. Asset dispositions and other (income) expense, net was $10 million for the quarter and - $13 million for the six months in 2026. Impairment and other charges (gains), net were $52 million for the quarter and $99 million for the six months in 2026.

### Operating Income

GAAP operating income for the quarter ended June 30, 2026, increased $106 million, or 3% (2% in constant currencies), to $3,338 million, from $3,232 million in the prior year. For the six months, GAAP operating income increased $411 million, or 7% (4% in constant currencies), to $6,292 million, from $5,880 million in the prior year. Non-GAAP operating income was $3,391 million for the quarter and $6,391 million for the six months in 2026. The operating margin for the six months ended June 30, 2026, was 46.2%, an increase from 45.9% in the prior year period. Non-GAAP operating margin for the six months ended June 30, 2026, was 46.9%, an increase from 46.8% in the prior year period.

### Interest Expense

Interest expense increased 5% (4% in constant currencies) for the quarter ended June 30, 2026, and 6% (4% in constant currencies) for the six months, primarily due to higher average interest rates and foreign currency translation.

### Nonoperating (Income) Expense, Net

Nonoperating (income) expense, net for the quarter ended June 30, 2026, was - $6 million, compared to - $18 million in the prior year. For the six months, it was $5 million, compared to - $76 million in the prior year. Interest income decreased for both periods due to lower average cash balances and lower average interest rates.

### Income Taxes

The effective income tax rate was 19.5% for the quarter ended June 30, 2026, compared to 21.3% in the prior year. For the six months, the rate was 20.7%, compared to 20.6% in the prior year. The lower rate for the quarter reflected discrete income tax benefits related to restructuring initiatives.

### Comparable Sales

Total Company comparable sales increased 1.3% for the quarter ended June 30, 2026, and 2.5% for the six months. In the U.S., comparable sales increased 0.8% for the quarter and 2.3% for the six months. International Operated Markets saw comparable sales increase by 1.5% for the quarter and 2.6% for the six months. International Developmental Licensed Markets comparable sales rose by 1.9% for the quarter and 2.6% for the six months.

### Systemwide Sales

Systemwide sales for the Total Company increased 5% (4% excluding currency translation) for the quarter ended June 30, 2026, and 8% (5% excluding currency translation) for the six months.

### Franchised Sales

Total franchised sales were $34,451 million for the quarter ended June 30, 2026, an increase of 5% (4% excluding currency translation). For the six months, total franchised sales were $66,368 million, an increase of 8% (5% excluding currency translation).

### Systemwide Restaurants

As of June 30, 2026, McDonald’s Corporation had 46,028 Systemwide restaurants, an increase of 1,915 from 44,113 in the prior year. This total included 44,016 franchised restaurants and 2,012 company-owned and operated restaurants.

### Outlook

McDonald’s Corporation anticipates net restaurant unit expansion will contribute approximately 2.5% to 2026 Systemwide sales growth in constant currencies, with capital expenditures estimated between $3.7 and $3.9 billion to support the opening of approximately 2,600 restaurants globally. The company expects full year 2026 selling, general and administrative expenses to be about 2.2% of Systemwide sales and projects the operating margin percent to be in the mid-to-high 40% range. McDonald’s Corporation targets 50,000 global units by 2028 with a free cash flow conversion rate in the low-to-mid 80% range for 2026.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**