McDonald's US sales fall for first time in six quarters despite value push

McDonald's US comparable sales fell 0.2% in the third quarter ended September 30, 2026, ending five consecutive quarters of growth despite its value promotions. Comparable sales measure sales at eligible existing restaurants, helping separate their performance from growth through new openings.^[1][2][3]

Quarterly revenue of $7.16 billion missed forecasts, while adjusted earnings per share of $3.57 beat expectations. McDonald's says US sales are improving, although coverage also reports tensions with franchisees, the independent operators of its restaurants.^[4][2]

The decline despite McDonald's value push suggests that winning sustained consumer spending remains difficult for fast-food chains. Rivals may need to keep offering deals to retain customers; unless extra orders offset lower prices, restaurant operators can be left with less profit from their sales.^[3][2]

Overseas operations provide a cushion: solid performance across much of McDonald's international business helped revenue and profit rise despite sluggish US sales. For global restaurant chains, the balance between domestic demand and overseas performance therefore matters to earnings resilience.^[5]

Impact

What to watch next

• The November 6 US October jobs report and November Michigan consumer sentiment reading will test whether employment income and spending confidence support a recovery in restaurant demand; weak readings would deepen concern about promotions' ability to sustain growth.