Filing Flows › McDonald's (MCD) › Q2 2026
McDonald's (MCD) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
McDonald's (MCD) reported revenue of $7.1B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +9% from the quarter before. Operating margin was 47.0%, net earnings $2.4B (33.3% of revenue).
McDonald's, Q2 2026: revenue $7.1B (+4% year over year), operating margin 47.0%, net earnings $2.4B, operating cash flow $2.8B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.1B | +9% | +4% |
| Operating profit | $3.3B | +13% | +3% |
| Net earnings | $2.4B | +19% | +5% |
| Operating cash flow | $2.8B | +16% | +40% |
| Free cash flow | $2.0B | +14% | +58% |
What changed
Revenue was $7.1B in Q2 2026, up 4% year over year and up 9% from the previous quarter. International Operated Markets was the largest line at 51% of revenue. International Operated Markets added $0.14B year over year (up 4%), 55% of the total change.
Operating profit was $3.3B, a 47.0% margin (down 0.2 points year over year). Of the extra revenue versus Q2 2025, 41% reached operating profit, below the 47% margin then. Total costs grew 4% against revenue growth of 4%. The fastest-growing cost line was SG&A (+17%). Net earnings were $2.4B, up 5% year over year. The effective tax rate was 19.6%.
Operating cash flow was $2.8B (up 40% year over year), 119% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.29B. Capital expenditures of $0.83B left free cash flow of $2.0B.
Questions
What was McDonald's revenue in the second quarter 2026?
McDonald's (MCD) reported revenue of $7.1B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +9% from the quarter before.
Was McDonald's profitable in the second quarter 2026?
Operating profit was $3.3B (47.0% of revenue) and net earnings $2.4B.
Source: McDonald's 10-Q on SEC EDGAR.