- In the second quarter (ending June 2025), McDonald's reported adjusted earnings per share (EPS) of $3.19, after expecting around $3.14 - clearly beating the estimate. Revenue increased 5% YoY to $6.84 billion, also above consensus forecasts.
- Worldwide comparable sales increased by 3.8%, in the US sales per location increased by 2.5%, reversing the decline from the previous quarter.
- A critical look at the first quarter: EPS fell to USD 2.60 (-2 % YoY), or USD 2.67 on an adjusted basis, with global comparable sales falling by 1 % (roughly neutral excluding the leap year effect). A decline in guest numbers was particularly noticeable in the USA (-3.6 %).
Strategic priorities & initiatives 2025
- Value offensive & McValue platform: McDonald's aims to stabilize sales and guest numbers with the introduction of the McValue program (e.g. $5 meal deals). This focus has already helped to boost business in Q2.
- Franchise expansion & new markets: McDonald's plans to open around 2,200 new restaurants worldwide in 2025 (approx. 4% growth), including around 600 in the US and key foreign markets .
- Digital transformation & loyalty programs: Expansion of the digital platform, target: from currently around 150 million active loyalty members to 250 million by 2027. At the same time, McDonald's is investing heavily in technology, particularly AI .
- Krispy Kreme partnership: McDonald's has been testing the introduction of doughnuts in US restaurants since 2024 - they are to be available in up to 12,000 branches by the end of 2026. This campaign is estimated to increase annual sales and EBITDA by several hundred million dollars.
🚀 Outlook & drivers for the coming months
- Q3/Q4 2025: The next company figures, including Q3 2025 (probably in November), should show whether the strategy is working in the long term. Rising guest numbers, further value promotions and digital offerings will be decisive in the course of 2025.
- AI focus: McDonald's announced that it will invest significantly in AI infrastructure by 2027 - with a global tech hub in India and a focus on data platforms, engineering and platform architecture.
- Key figure forecasts from the investor deck: Among other things, the company expects for 2025: CAPEX of $3.0-3.2 billion, operating margin in the mid-upper 40% range, free cash flow conversion of c. 80% .
Conclusion for 2025
McDonald's is performing a balancing act in 2025: the company countered skeptical customer traffic figures in Q1 with a clear value push and digital innovations - the result: a convincing increase in sales and profits in Q2. With focus-oriented investments in AI, global expansion, increased loyalty and strategic partnerships (e.g. Krispy Kreme), McDonald's appears to be well positioned for growth over the course of the year.