McDonald's

McDonald's Q3 2026 10-Q: Global comps turn positive at +1.5% as U.S. slips to -0.2%, with ArchIQ AI deployment and 50,000-unit target anchoring the McDonald's > NEXT strategy

McDonald's delivered consolidated revenue of $7.16 billion for Q3 2026, up 1% year-over-year, driven by franchised margin expansion and higher Other operating income, while U.S. comparable sales turned slightly negative at -0.2% — the most critical traffic signal in the filing. The company's McDonald's > NEXT strategy, anchored by generative AI restaurant operating system ArchIQ and a $8.5 billion franchisee cash partnering commitment through 2036, represents a structural shift in how the system intends to drive guest-count-led growth. Long-term targets — 50,000 units by end of 2028, low-to-mid 50% operating margin by 2030, and SG&A of 1.9% of Systemwide sales — establish a credible financial framework for institutional underwriting of the thesis.

McDonald's Corporation is the world's leading global foodservice retailer, operating and franchising McDonald's restaurants worldwide. The vast majority of its restaurants are franchised, generating revenues through rents, royalties, and fees. Its business model is built around the McDonald's System and real estate ownership underlying franchise arrangements.

Primary products

• Franchised restaurants
• Company-operated restaurants