McDonald's beats Q1 profit and revenue estimates despite soft U.S. sales

McDonald’s posted a first-quarter profit beat, but the numbers also showed why store teams are still being asked to do more with a menu built around value. The company said diluted earnings were $2.78 a share on a GAAP basis, or $2.83 excluding current-year charges, while consolidated revenue rose 9% to $6.8 billion and operating income increased 12%.

The split-screen showed up in the sales mix. Global comparable sales rose 3.8%, and U.S. comparable sales increased 3.9%, but the company said low-price offers still had to work hard to pull in budget-conscious customers squeezed by high fuel and grocery costs. International operated markets also posted 3.9% comparable sales growth, while international developmental licensed markets rose 3.4%, underscoring that the demand picture was stronger abroad than the old U.S. value engine might suggest.

Chief executive Chris Kempczinski said McDonald’s “delivered the quarter” and credited “value leadership, breakthrough marketing, and menu innovation” for keeping customers interested. For restaurant workers, that language points to the pressure already familiar on the floor: more promotional activity, more menu complexity, and more dependence on each limited-time offer to bring in traffic when guests are watching every dollar.

The company also said pre-tax restructuring charges were $47 million in the quarter, compared with $66 million a year earlier, tied to Accelerating the Organization. Operating income rose 11% excluding those charges, a reminder that corporate cleanup and operating performance are still moving together. McDonald’s now operates in 70 loyalty markets, and systemwide sales to loyalty members topped $38 billion over the trailing 12 months and more than $9 billion in the quarter.

That loyalty scale matters for crews and managers because it keeps pushing digital promotions deeper into the restaurant day, from app-driven offers at the drive-thru to tighter tracking of what moves and what does not. The company said it expects 2026 capital spending of $3.7 billion to $3.9 billion and plans to open about 2,600 restaurants, including roughly 750 in the U.S. and International Operated Markets. After a rougher first quarter in 2025, when U.S. comparable sales fell 3.6%, this year’s rebound is real, but it still does not mean easier shifts or simpler service in the stores.