Operations

McDonald’s looks to value, digital offers to reignite U.S. growth

McDonald’s third-quarter results showed signs of improving momentum, with international markets and digital promotions helping drive growth, even as softer U.S. sales underscore the company’s ongoing challenge of winning back value-conscious customers.

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November 4, 2026 by Valerie Gritton — Editor, Pizza Marketplace

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McDonald's reported a mixed third quarter, with international markets helping drive global sales growth while its U.S. business continued to face pressure from softer consumer spending and declining comparable sales.

Global comp sales increased 1.5% in the third quarter, while systemwide sales rose 4% to more than $38 billion. U.S. comparable sales declined 0.2%, compared with gains of 1.4% in International Operated Markets and 4.2% in International Developmental Licensed Markets.

Revenue totaled $7.16 billion, while adjusted earnings per share reached $3.57, an 11% increase on a constant-currency basis.

McDonald's leadership said the U.S. business showed signs of improvement as the quarter progressed, following changes to value offerings, digital promotions and marketing.

"We're encouraged by the improvement in U.S. baseline trends that we saw as the quarter progressed," McDonald's CEO Chris Kempczinski said during the company's Q3 earnings call. "At the same time, we'll continue investing behind McDonald's Next at scale to drive sustainable, long-term growth and productivity."

U.S. value strategy takes shape

McDonald's is putting additional emphasis on entry-level affordability as it works to bring customers back more frequently. The company recently began an eight-week test of two everyday value platforms across approximately 1,900 restaurants in several U.S. regions.

The test includes mix-and-match bundles that offer customers more choice, as well as fixed-price meal combinations designed to simplify ordering. Franchisees representing another approximately 4,000 restaurants also have chosen to introduce similar entry-level bundles ahead of the formal test results.

"Together, these restaurants, and those participating in the formal test, represent more than 40% of the U.S. system, reflecting strong alignment around the opportunity," Kempczinski said.

The company plans to use the results to determine which approach resonates with customers, works operationally and delivers sustainable incremental traffic and sales for franchisees. A national program is targeted for early 2027.

McDonald's also is relying on existing value platforms, including its $5 and $6 meal deals, Extra Value Meals and digital offers through its mobile app. The company said unit sales from its top Extra Value Meals have increased approximately 7% year over year.

McDonald's CFO Ian Borden said its U.S. same-store sales turned positive in September as the company worked to stabilize baseline guest counts. McDonald's partially restored a broader range of regional and national digital offers, including a $2 breakfast sandwich and free fries with a $1 minimum purchase.

"The initial response to the mass digital offers exceeded expectations for both incremental guest counts and sales," Borden said during the Q3 earnings call.

The company also disclosed that its U.S. loyalty program has nearly 30% of its customer base, making engagement with frequent customers an important part of its traffic-driving strategy.

Beverages provide another growth opportunity

Specialty beverages continued to contribute incremental sales, with McDonald's reporting strong take rates and repeat purchases across the platform.

Borden said checks that included a specialty beverage were approximately 50% higher than the full-day average check, with more than half of beverage occasions occurring during periods when restaurants are generally less busy.

The company said its beverage customer base skews younger, providing an opportunity to attract consumers and generate additional visits outside traditional meal periods,

The addition of Red Bull Dragonberry Energizer in August also helped boost the platform, selling the most units of any specialty beverage during its six-week advertised launch period while adding to total category sales.

McDonald's is expanding the beverage platform internationally and remains on track to introduce specialty beverages across nearly all European markets by mid-2027. The company also has set a goal of gaining an additional 1.5 percentage points of beverage market share by 2030.

International markets deliver growth

International markets continued to provide a source of strength, led by Australia and Germany.

Japan led the licensed markets, delivering its 44th consecutive quarter of comparable sales growth. Results in China, however, were tempered by a challenging consumer environment.

McDonald's said it maintained or gained market share in most of its major international markets, supported by value offerings, menu innovation and marketing.

In Europe, France remained a source of weakness; however, management said recent changes to the governance structure in France should give the business greater flexibility and agility as it works to improve performance. while the company also cited the impact of the war in Ukraine on restaurant operating hours.

Building toward 2027

Beyond near-term traffic initiatives, McDonald's is beginning to put its McDonald's Next growth strategy into action. The multi-year plan focuses on improving the customer experience, strengthening food quality and hospitality, and making restaurants easier to operate.

The company has launched Make It Golden, described as its largest capability-building initiative, to provide restaurant teams with training and tools to improve food quality and customer service.

McDonald's also is preparing operational pilots for hand-breaded chicken in the U.S. and Ireland, with advertised sales tests planned in approximately 100 U.S. restaurants in early 2027. The company is moving forward with restaurant remodels, new kitchen layouts and expanded testing of its Archie smart-ordering system.

Management said it expects baseline traffic trends to continue improving as the company works to exit 2026 in a stronger position, while acknowledging that additional work remains.

"We remain focused on the further work to do to position the business for stronger, more consistent performance in 2027," Borden said.