McDonald's is about to report earnings. Here's what to expect - CNBC

McDonald's is expected to report its third-quarter earnings before the bell on Wednesday.

Last quarter, McDonald's CEO Chris Kempczinski said the chain's U.S. business fell short, hurt by uneven execution of its value offers and complicated launches of new menu items. In response, the company tapped Skye Anderson as its new U.S. president.

Analysts are predicting an even worse third quarter for McDonald's home market. Wall Street is anticipating same-store sales declined 0.5%, according to StreetAccount estimates.

Investors will also be paying close attention to executive commentary about the fourth quarter so far. Chipotle Mexican Grill executives said last Wednesday that the restaurant industry saw traffic soften in October.

Shares of McDonald's have fallen about 11% over the last year, weighed down by investor concerns about its U.S. business, expensive plans to upgrade restaurants and the broader economy. The company has market cap of roughly $186 billion.