McDonald’s will report its fourth-quarter earnings before the bell Wednesday.
Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.89 per share
- Revenue: $5.16 billion
- Same-store sales: 3.90 percent
The Chicago-based company has been looking to promotions and new breakfast items to whet customers’ appetites as U.S. sales slow. In November, McDonald’s began a limited-time offering of Triple Breakfast Stacks. The meaty breakfast sandwiches were inspired by customers’ special orders. The following month, it brought back its 2 for $5 Mix & Match deal. The meal deal represents McDonald’s move away from discounts like its Dollar Menu as it tries to raise the average check price to make up for declining foot traffic.
Analysts are expecting same-store sales in the U.S. to grow by 2.36 percent. Last year, U.S. sales at stores open at least a year rose 4.5 percent.
Investors will also be watching the company’s plans to remodel its U.S. locations with self-service kiosks and digital menu boards, among other upgrades. McDonald’s pushed its deadline for the store renovations, originally slated to be completed in 2020, to 2022. Closing stores for the upgrades had taken a toll on its same-store sales, not to mention that many franchisees have been less-than-pleased with the return on investment. Franchisees formed an independent advocacy group, the National Owners Association, last October.