MCD Q3 2025 Earnings
Reported Nov 5, 2025 at 2:01 AM ET · SEC Source
Q3 25 EPS
$3.22
MISS 3.38%
Est. $3.33
Q3 25 Revenue
$7.08B
MISS 0.16%
Est. $7.09B
vs S&P Since Q3 25
-8.0%
TRAILING MARKET
MCD -1.7% vs S&P +6.4%
Market Reaction
Did MCD Beat Earnings? Q3 2025 Results
McDonald's came up short on both top and bottom lines in Q3 2025, with non-GAAP diluted EPS of $3.22 missing the $3.33 consensus by 3.38% and revenue of $7.08 billion landing just 0.16% below expectations, though sales still grew 3.0% year-over-year.… Read more McDonald's came up short on both top and bottom lines in Q3 2025, with non-GAAP diluted EPS of $3.22 missing the $3.33 consensus by 3.38% and revenue of $7.08 billion landing just 0.16% below expectations, though sales still grew 3.0% year-over-year. The stock moved higher despite the miss, as investors focused on the company's strongest comparable sales performance in several quarters, with global comps rising 3.6%, a sharp reversal from the 1.5% decline in Q3 2024, driven by gains across all three operating segments, including a 4.7% comp lift in International Developmental Licensed Markets. A 21% surge in SG&A, tied to stepped-up marketing spend and digital investment, weighed on earnings even as franchised revenues climbed 7% to $4.36 billion. Loyalty program sales reached roughly $9 billion in the quarter across 60 markets, underscoring the platform's growing role. Management maintained its full-year outlook, projecting capital expenditures of $3.00 to $3.20 billion and an operating margin in the mid-to-high 40% range.
Key Takeaways
- • Global comparable sales increased 3.6% with broad-based growth across all segments
- • U.S. comparable sales driven by positive check growth
- • International Operated Markets led by Germany and Australia
- • International Developmental Licensed Markets led by Japan
- • Systemwide sales to loyalty members approximately $9 billion for the quarter across 60 markets
- • Higher sales-driven Franchised margins representing approximately 90% of restaurant margin dollars
- • Franchised margins grew 7% to $3,697 million for the quarter
MCD YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
MCD Revenue by Segment
With YoY comparisons, source: SEC Filings
MCD Revenue by Geography
Regional revenue distribution
“We increased global Systemwide sales by 6% and grew comp sales across all segments, a testament to our ability to deliver sustainable growth even in a challenging environment.”
— Chris Kempczinski, Q3 2025 Earnings Press Release
MCD Earnings Trends
MCD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MCD EPS Trend
Earnings per share: estimate vs actual
MCD Revenue Trend
Quarterly revenue: estimate vs actual
MCD Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $3.04 | $3.12 | +2.63% | $7.01B | — |
| FY Full Year | $12.14 | $12.20 | +0.49% | $26.89B | +0.73% |
| Q3 25 MISS | $3.33 | $3.22 | -3.38% | $7.08B | -0.16% |
| Q2 25 BEAT | $3.15 | $3.19 | +1.31% | $6.84B | +2.10% |
| Q1 25 MISS | $2.67 | $2.67 | -0.02% | $5.96B | -2.78% |