McDonald’s (MCD) Q4 2025 earnings

McDonald’s is expected to report its fourth-quarter earnings after the bell on Wednesday.

Here’s what Wall Street analysts surveyed by LSEG are expecting the company to report:

• Earnings per share: $3.05 expected
• Revenue: $6.84 billion expected

The fast-food giant, often viewed as a bellwether of consumer spending, has been warning for more than a year that low-income consumers are spending less. In response, McDonald’s has embraced discounted offerings, from rolling out a value menu to relaunching Extra Value combo meals.

One bright spot for McDonald’s and the broader fast-food segment has been high-income diners, who are trading down from fast-casual restaurant options. Buzzy promotions have won over those consumers and boosted the chain’s sales, too; the fourth quarter included the return of Monopoly, as well as the Grinch meal, timed for the holiday season.

Analysts are projecting that McDonald’s same-store sales will rise 3.9%, fueled by a 5.4% increase in the U.S., according to StreetAccount estimates.

Despite the rebound in its sales, McDonald’s shares have risen only about 4% over the last year, hurt by broader industry-wide concerns about the consumer and the rise of GLP-1 drugs. The S&P 500 has climbed more than 14% in the same period.