McDonald’s To Open About 2,600 Stores In 2026 After Strong Q4

McDonald’s topped fourth-quarter expectations with adjusted earnings per share of $3.12 and revenue of $7.01 billion, Reuters reported, and told investors it will accelerate unit growth in 2026 with roughly 2,600 gross openings. Management reiterated an ambition to reach 50,000 restaurants globally by the end of 2027, a target the company says it is on track to achieve.

The company reported broad sales strength that underpinned the expansion push. Globe and Mail put systemwide sales for 2025 at nearly $140 billion, up 5.5% in constant currency, and said global comparable sales rose 5.7% in Q4 2025 with U.S. same-store sales up 6.8%. Reuters noted the Q4 adjusted EPS beat of $3.12 versus $3.05 expectations and the 10% year-over-year revenue increase to $7.01 billion.

McDonald’s 2026 unit plan is detailed and regionally split. Company guidance and regulatory filings cited by CNBC and Gurufocus show about 750 openings in the U.S. and International Operated Markets and more than 1,800 openings by licensees and affiliates in other markets. Globe and Mail specifically calls out roughly 1,000 new units in China as part of the 2026 activity. The company expects about 2,100 net new restaurants in 2026 and projects those net additions will lift systemwide sales by approximately 2.5%, excluding currency effects.

Funding for the expansion will come with significant capital spending. Multiple outlets reported CapEx guidance of $3.7 billion to $3.9 billion for 2026, with most of that money directed to opening the new locations. Gurufocus and Globe and Mail both flagged expected free cash flow conversion to remain in the low-to-mid 80% range even as the company ramps openings.

Profitability guidance was layered with caution. Management said operating margin should be in the mid-to-high 40% range for 2026, compared with a 46.1% operating margin in 2025, Reuters referenced. Globe and Mail added detail showing G&A around 2.2% of system sales and an effective tax rate near 21%–23%. Gurufocus reported historical operating margin at 46.12% and net margin at 32.04%.

Menu and marketing moves are part of the growth strategy. CNBC said McDonald’s will roll out new beverages later in 2026 - energy drinks, fruity refreshers and crafted sodas - lessons learned from its shuttered CosMc’s spinoff and a 500-restaurant test last summer. Tipranks and TheFly summarized Q4 earnings call remarks calling the Minecraft movie collaboration the “largest global campaign ever,” noting strong performance from the return of snack wraps in the U.S., and saying the company is “on track to reach target of 250M 90-day active users by the end of 2027.”

Executives balanced optimism with warning about headwinds. CNBC quoted CEO Chris Borden saying, “We believe the underlying assumptions for our 2026 outlook are prudent and reflect our expectations that the [quick-service restaurant] industry environments in the U.S. and across many markets will remain challenging.” Reuters quoted CFO Ian Sanderson: “Global cost inflation remains a headwind that will pressure margin expansion without consistent traffic growth that drives operating leverage across the P&L.” CNBC also noted a late January winter storm caused temporary U.S. restaurant closures and is expected to weigh on first-quarter traffic.

Market reaction was muted after hours, with Reuters reporting shares marginally lower, while Gurufocus flagged financial strengths - a strong Altman Z-Score and high Piotroski F-Score - alongside risks including shifting consumer preferences, regulatory challenges, insider selling trends and company debt levels. The 2026 expansion follows a step-up in 2025, when Globe and Mail reported roughly 2,275 gross and about 1,880 net restaurant openings, setting the stage for the next year’s aggressive rollout.