McDonalds grows only 0.8 percent in the US and replaces its home market leadership

McDonalds achieved growth in comparable sales of only 0.8 percent in the United States in the second quarter of 2026 and therefore missed expectations. On the same day the group announced the appointment of Skye Anderson as president of the American business.

The figures were published on 4 August. Consolidated revenue rose four percent, and two percent on a currency adjusted basis. Systemwide sales grew five percent to 37 billion dollars, and four percent adjusted for currency.

The result beat earnings estimates but missed revenue expectations.

The short version

• Comparable sales in the United States rose only 0.8 percent in the second quarter of 2026 and missed expectations.
• On the same day the group announced the appointment of Skye Anderson as president of the American business.
• Systemwide sales grew five percent to 37 billion dollars, and four percent adjusted for currency.

Customers are saving on eating out

As the reason for the weak development in the home market the group names cautious consumers. Customers are limiting their spending in restaurants because of economic worries, even though McDonalds is countering with price promotions.

Two one off effects came on top. The comparison period contained a successful film tie in from April of the previous year. And the World Cup advertising campaign, which started in the last month of the quarter, fell short of expectations.

That combination explains why the group speaks of a miss without the business having collapsed. Growth of 0.8 percent is in positive territory, only clearly below what had been planned.

Outside the United States things run better

The international divisions developed more strongly. In the internationally operated markets comparable sales rose 1.5 percent, and in the developmental licensed markets 1.9 percent.

Chief executive Chris Kempczinski said the group had achieved positive growth in comparable sales in every segment and had acted decisively to improve execution. Its own approach works worldwide, though in its largest market it sees the opportunity to raise the bar.

The appointment was explicitly justified on that basis. Anderson is to bring focus and urgency to those efforts.

Drinks as the hope

As a bright spot the group names its new drinks line with soft drinks and self mixed lemonades. According to Kempczinski those products bring new visits and lift the average order value.

In the coming weeks energy drinks from the Red Bull brand are to be added.

The approach follows a logic that is common in the industry. Drinks have considerably higher margins than food and cause little additional work in the kitchen. Lifting the order value through drinks improves the result more than adding customers.

In June the group had presented a new growth strategy at its biennial worldwide convention for franchisees.

A target for 2027

For the American market the group has set itself a target. If operations and marketing improve successfully, comparable sales are to return to the expected level in 2027.

With that the company admits that catching up takes time.

McDonalds operates more than 45,000 locations in more than 100 countries. Around 95 percent of them are run by independent local operators.

That structure matters for the valuation. The group earns mainly from licence fees and rents and not from the sale of individual meals. Earnings are therefore more stable, but they depend on the operators holding their sales.

For the quarter the company names higher margins from the franchise business as a significant driver of results.

Frequently asked questions

Why was growth in the home market so weak

The group names cautious consumers who are limiting their spending in restaurants because of economic worries. Two one off effects came on top. The comparison period contained a successful film tie in from April of the previous year, and the World Cup advertising campaign fell short of expectations.

Why is the group betting on drinks

Drinks have considerably higher margins than food and cause little additional work in the kitchen. Lifting the order value through drinks improves the result more than adding customers. In the coming weeks energy drinks from the Red Bull brand are to be added.

How does McDonalds make its money

The group operates more than 45,000 locations in more than 100 countries, around 95 percent of them run by independent local operators. It earns mainly from licence fees and rents and not from the sale of individual meals.

This analysis is for information only and is not investment advice.