McDonald’s (MCD) Q2 2024 Earnings

• Earnings per share: 3.07 expected
• he won:$6.61 billion expected

The burger chain’s stock has fallen 15% since the start of the year, as investors worry about the health of consumer spending and the restaurant industry.

McDonald’s officials have warned that restaurants are struggling to attract fewer customers, and that many have been offering high-value meals to grab market share. In the U.S., McDonald’s has been running a $5 meal deal for the past month to attract new traffic; on Monday, the company told its U.S. system that it plans to extend the promotion.

But those discounts didn’t start until the end of the second quarter. Wall Street expects the company to post flat U.S. same-store sales during that period, according to StreetAccount estimates. A year ago, McDonald’s domestic same-store sales increased 10.3%, helped by a viral promotion featuring the Grimmais mascot.

Outside the United States, McDonald’s is likely to see its sales in the Middle East decline because of the boycott. At the start of the second quarter, the company bought 225 restaurants operated by an Israeli franchise company.