People wear protective face masks in front of McDonald’s in Union Square as the city resumes Phase 4 reopening following restrictions imposed in New York City on July 30, 2020 to slow the spread of the coronavirus.
Noam Galai | Getty Images
McDonald’s is expected to announce its third quarter results before the bell on Wednesday.
Wall Street analysts surveyed by Refinitiv expect the following:
- Earnings per share: $ 2.11 expected
- Revenue: $ 5.6 billion expected
The fast food giant has bounced back quickly in its U.S. business, but its international markets have taken longer to recover, which has been dragged down by new rounds of restrictions and bans. Last quarter, the company announced that US sales in the same store exceeded 2019 levels, a trend executives expect to return this quarter.
Promoting the chain for “famous orders” with BTS, the K-Pop supergroup, is expected to help achieve this goal. McDonald’s began rolling out the promotion in nearly 50 countries in late May. Analysts also expect strong sales of the chain’s chicken sandwich, which launched nationwide in February.
For all of 2021, the company expects system-wide revenue growth in mid-teens.
The company’s shares are up 14% this year, for a market value of $ 189 billion.