Welcome to Extreme Investor Network, where we bring you the latest updates and insights on all things business news. Today, we’re diving into the highly anticipated third-quarter earnings report from McDonald’s, set to be released before the bell on Tuesday.
According to Wall Street analysts surveyed by LSEG, the expectations for McDonald’s third-quarter earnings are as follows:
– Earnings per share: $3.20 expected
– Revenue: $6.82 billion
The earnings report comes at a critical time for McDonald’s, as they recently faced a setback with a deadly E. coli outbreak linked to their Quarter Pounder burgers. After temporarily pulling the menu item from some U.S. locations, the company announced that the burger will return to affected stores without slivered onions, which have been identified as the source of the outbreak.
Despite these challenges, McDonald’s sales have been under pressure even prior to the outbreak. Analysts are predicting a 0.6% decline in same-store sales for the third quarter, primarily driven by weak international demand. In response to changing consumer behavior, McDonald’s has been introducing value menus and combo meals in key markets to attract customers.
Shares of McDonald’s have taken a hit, falling 6% since news of the outbreak emerged. However, the stock remains relatively flat for the year, with a market cap of around $210 billion.
Stay tuned as this story continues to develop, and don’t forget to check back for updates on this evolving situation. For more exclusive insights and analysis, be sure to explore CNBC PRO for additional valuable information.
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