$MCD · Schwab Network · 2026-11-04
麦当劳业绩好坏参半，但好于市场担忧：调整后每股收益3.57，超过预期的3.38；营收71.6亿美元，低于预期的72.9亿美元，说明费用管理良好。但美国同店销售下降0.2%，差于预期的下降0.1%；客流量下降4.6%——这是客流问题——并且在性价比方面被竞争对手抢走了市场份额。投资者感到满意，因为业绩好于担忧。
逐段跳播
接下来看看麦当劳。CEO 不久前发表了一些积极的评论。是的，麦当劳的业绩表现喜忧参半。我们的同事 Alex Coffey 今早是这样描述情况的：本季度表现好于一些人的担忧，因为他们的盈利表现好于预期，但营收低于预期。所以，这里的结论是他们很好地控制了费用。
Let's move on to McDonald's. The CEO made some positive comments a short while ago. Yes, the results are mixed at McDonald's. This is how our colleague, Alex Coffey, described the situation this morning.
This quarter was better than some had feared, because their earnings performed better than expected, but revenues came in lower than anticipated. So, the conclusion here is that they manage expenses well.
调整后每股收益为 3.57。市场预期为 3.38。营收令人失望，为 71.6 亿。我们原本预期为 72.9 亿。
The adjusted earnings per share amounted to 3.57. Market expectations were for 3.38. Revenue came in disappointingly at 7.16 billion. We were expecting 7.29 billion here.
他们在控制成本，但仍需要吸引更多顾客，让更多人通过他们试图提供的产品来购买。我不想称之为超值菜单，而是更低价位的优惠，比如 3 美元菜单和 4 美元早餐。他们试图以此作为潜在的变革推动力，但他们在竞争中已经失去了市场份额。
They are controlling costs, but they still need to attract more customers and get more people to buy through what they are trying to offer. I don't want to call it a value menu, but rather lower-priced offers, like the three-dollar menu and the four-dollar breakfast.
They are trying to use that as potential agents of change, but they have lost market share to competitors.
我们看到美国同店销售下降了 0.2%。这比预期更差。市场原本预期那里会小幅下滑，预期下降 0.1%。这不是投资者希望看到的方向。到店次数与去年相比也有所减少。
We have seen a decrease in similar sales in the United States of 0.2 percent. This is worse than expected. The market was expecting a slight decline there. They were expecting a decrease of 0.1 percent.
This is not the direction investors would like to see. The number of visits also decreased compared to last year.
Placer.ai 有一些相关数据。他们说到店次数下降了 4.6%，所以对麦当劳来说这是一个客流问题。他们在通过优惠吸引消费者进店方面遇到了困难，因为他们正在与汉堡王的母公司竞争，而后者近期的表现好于预期。
Yum Brands 旗下有 Taco Bell，而如你所知，人们在寻找最便宜的选择。这是挑战之一。麦当劳能在这方面竞争吗？目前，投资者对业绩感到满意，因为业绩好于担忧。
Placer.ai has some data on that. They say visits have dropped by 4.6 percent, so it's a traffic problem for McDonald's. They have faced difficulties in attracting consumers to stores through value offers because they are competing with Burger King's parent company, which has been performing better than expected recently.
Yum Brands has Taco Bell, and as you know, people are looking for the cheapest option. This is one of the challenges. Can McDonald's compete on this front? Currently, investors are pleased with the results because they are better than feared.
这个频道对 $MCD 的历次判断
Schwab Network 在这只股票上共 3 条判断，这里只列相邻的几条。