CNBC's Kate Rogers joins 'Squawk Box' to report on the company's quarterly earnings results.

Chicago

McDonald’s reported mixed third quarter results, with adjusted earnings per share of $3.22 and revenue of $7.08 billion, both falling short of analyst estimates. However, global comparable sales rose 3.6%, surpassing expectations, and U.S. same-store sales increased by 2.4%, also above forecasts.

The company cited strong performance in international markets such as Germany and Australia, while Japan led in its developmental license markets. CEO Chris Kempczinski emphasized McDonald’s focus on value, affordability, and menu innovation as drivers of growth. Analysts are watching for further commentary on consumer trends, particularly among younger and low-income customers.

McDonald’s earnings miss estimates, but sales are rising

Looking at third quarter results for McDonald's, stock doesn't like it. It's weird because, Kate, I think they missed on the bottom line of $3.22, but the same store sales, U.S., were above expectations, weren't they? Yeah, that's right. So this is a mixed third quarter here for McDonald's. Adjusted EPS, as you said, missed $3.22, lower than estimates of $3.33. Revenues, $7.08 billion. And that's just slightly below the $7.1 billion that was estimated by analysts. But as you said, same store sales, a bright spot in the quarter. Global comps coming in at up 3.6%, better than the 3.5% estimated U.S. comps. Key market here, up 2.4% versus estimates of 1.9%. Driven by positive check growth, but no note here about traffic. So we'll be looking out on the earnings call for more on that. International operated markets increased 4.3% versus estimates of up 4.1%. McDonald's says all markets had positive comp sales led by strength in Germany and Australia in the quarter. A miss, though, for its international developmental license markets. Its sales were up 4.7%, a little lower than the estimates of up 5.4%. But the company noting Japan being a comp leader there. McDonald's CEO, Chris Kamchinski, calling the results, quote, a testament to our ability to deliver sustainable growth, even in a challenging environment. Adding, we're fueling momentum by delivering everyday value and affordability, menu innovation, and compelling marketing that continue to bring customers through our doors. I expect a lot of focus on value and the consumer on the earnings call this morning, and likely more color on that EPS miss, guys. Back over to you. Okay, okay, yeah, it's less than a, not even a half a percent at this point. Tough overall for fast food, right? It's worse than other, it's really weird. Worse than other restaurants. That, that, you'd think people would be going to, to value it with fast food. So I will note this McDonald's US comp does look good. Definitely will be looking out for more color on that. But what you were just talking about with the Kava CEO, the pullback in the younger consumer is just so key. It's hit Kava, it's hit Chipotle. So we'll be looking out to hear what they have to say about younger consumers. Are they perhaps trading down to a McDonald's in this environment? And then also, more broadly, the low income consumer. And if this value play that McDonald's has been leaning into for the last year plus is really working. If you look at the same store sales numbers, it seems it has been. But certainly more to come, guys.

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