McDonald's filed an 8-K with the SEC on 4 August 2026 reporting its second-quarter 2026 results (quarter ended 30 June). It was a mixed quarter: earnings edged past Wall Street's estimate, revenue came in a touch light, and same-store sales grew only modestly as U.S. customer traffic slipped again — prompting the company to install a new head of its biggest market.

The numbers

• Revenue: $7.10 billion, up 4% year-on-year (+2% in constant currency) — a slight miss versus the roughly $7.2 billion analysts expected.
• Earnings per share: $3.32 GAAP (up 6%). Excluding $0.06 of restructuring charges, adjusted EPS was $3.38, a beat versus the ~$3.35 consensus. Net income was $2.36 billion (up 5%).
• Global comparable (same-store) sales: +1.3%, roughly in line — U.S. +0.8%, International Operated Markets +1.5%, International Developmental Licensed Markets +1.9%.
• The story metric — U.S. traffic: the +0.8% U.S. comp came from higher average check and product mix, but guest counts fell — people are spending a bit more per visit, but fewer are visiting.
• Loyalty: a bright spot — trailing-twelve-month systemwide sales to loyalty members rose over 20% to $40 billion, and 90-day active loyalty users grew 13% to nearly 220 million.
• Leadership change: Skye Anderson, a longtime McDonald's executive, was named President of McDonald's USA to sharpen execution in the company's largest market.
• Guidance: McDonald's did not issue new quarterly targets; it framed the quarter around its "Accelerating the Organization" restructuring and long-term growth plan.

What was filed: 8-K, item 2.02

An 8-K is the "breaking news" form a U.S.-listed company must file when something material happens between its regular quarterly reports. Item 2.02 — "Results of Operations and Financial Condition" is the specific item companies use to officially release quarterly earnings. The actual press release with all the numbers is attached as an exhibit (here, Exhibit 99.1). So when a company reports earnings, this is the primary-source document — the figures the headlines are pulled from, straight from the company, before any analyst spin.

Why it matters

McDonald's is widely watched as a read on the everyday consumer, especially lower- and middle-income households. The pattern this quarter — check up, traffic down — suggests menu prices and mix are still lifting the average bill, but value-conscious diners are visiting less often. That is why margins and profit can rise (EPS beat) even as the top line grows slowly (revenue miss): franchised-restaurant margins and other income did the heavy lifting rather than a surge in customers.

The new U.S. president is the governance signal to watch. Naming a fresh leader for the home market — which drives a large share of profits — is management acknowledging U.S. momentum needs to improve, and it puts a specific person accountable for turning traffic positive. The fast-growing loyalty program is the lever they will likely pull: more members, more app orders, and more targeted deals to bring guests back more often.

Beginner takeaway

McDonald's earned a bit more than expected but sold a bit less than hoped, and fewer Americans walked in even though each spent more. The company beat on profit, missed on revenue, and responded by changing who runs its U.S. business. None of that tells you where the stock goes next — it tells you the everyday-spending backdrop is soft and management knows it.

FAQ

What are "comparable sales" and why does everyone fixate on them? Comparable (or same-store) sales measure growth only at restaurants open at least a year, stripping out the boost from simply opening new locations. It is the cleanest gauge of whether the existing business is actually getting healthier.

How can profit beat while revenue misses? Revenue is total sales; profit depends on costs and margins. McDonald's earned more per dollar this quarter thanks to higher franchised-restaurant margins and other income, so earnings rose faster than the slower-growing revenue line.

Why show two EPS numbers, $3.32 and $3.38? $3.32 is GAAP (official) earnings. $3.38 is "adjusted" — it excludes $0.06 of one-time restructuring charges to show underlying performance. Analyst estimates are usually set against the adjusted figure, which is why the "beat" is measured on $3.38.

Is a new U.S. president a red flag? Not necessarily. Leadership changes are routine, but naming a new head of the largest market alongside softening U.S. traffic signals management wants faster improvement there. It is a thing to watch, not a verdict.

As of 4 August 2026. Source: official SEC filing — read it directly here. We summarise filings for education and may make errors, so always verify against the official document. Educational content only — not investment advice, not a buy/sell recommendation.