McDonald’s is expected to report earnings before the bell Tuesday.
The Chicago-based company’s stock, which has a market value of $161.8 billion, is up 18% so far this year.
Here’s what analysts surveyed by Refinitiv are expecting:
- Earnings per share: $2.21 expected
- Revenue: $5.5 billion expected
- Global same-store sales: 5.6% expected
McDonald’s is expected to give investors more detail on its plans for its latest acquisition, Apprente. The fast-food chain announced its third tech deal so far this year in September. Apprente is trying to automate the drive-thru with artificial intelligence technology that understands orders.
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And as McDonald’s aims to hit $4 billion in delivery sales this year, the fast-food chain has been expanding its delivery footprint. The company now has delivery partnerships with UberEats, DoorDash and GrubHub.
In recent quarters, the chain’s tech investments and delivery deals have helped sales grow. Customers keep buying core menu items like Big Macs and taking advantage of McDonald’s 2 for $5 Mix and Match promotion.
But McDonald’s competition has been generating more buzz when it comes to menu additions. With some help from social media, Popeyes Louisiana Kitchen, which is owned by Burger King’s parent Restaurant Brands International, sold out of its chicken sandwich in less than a month after its launch this summer.
Burger King has also been stealing some spotlight from McDonald’s with the nationwide launch of its plant-based Impossible Whopper. In September, McDonald’s announced plans to test a burger made with a Beyond Meat patty in select stores in Ontario, Canada.
Source: cnbc.com | Original Link