McDonald's executives acknowledge that customers perceive prices as being too expensive and are taking steps to provide more value.

• McDonald's executives admitted during an earnings call on Monday that customers view their prices as too expensive and stated they are conducting a "thorough examination" of their pricing strategy.
• Although the company's recent $5 value meal was successful in attracting lower-income diners, it has not resulted in increased sales, according to company executives.

On Monday, executives admitted that diners find the company's prices too expensive, as lower-income consumers have been hesitant to spend money after years of high inflation.

Executives announced during the company's second-quarter earnings call Monday that they are adopting a "forensic approach" to assessing prices and generating value. Despite posting worse-than-anticipated second-quarter earnings, same-store sales decreased across all divisions.

Kempczinski said price increases have made consumers reconsider buying habits.

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— CNBC's Amelia Lucas and Kate Rogers contributed reporting