MAAT INDEX

CLAIM #38933 · McDonald’s Corporation (MCD) · 2022Q1 earnings call · Apr 28, 2022 · due Dec 31, 2024

I think we expect a relatively similar range for the next few years.

Kevin Ozan · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

ex things going on. But roughly that's the way the business performed first quarter this year. Mike Cieplak: Our next question is from Andrew Charles with Cowen. Andrew Charles: Great. Thanks. Kevin, hopefully, a simple question for you. How should we think about the next few years of CapEx relative to 2022's $2.2 billion to $2.4 billion as US reimaging winds down, but restaurant development is ramping up? And within that as well I know China is an asset-light market for you guys. If you could just comment on the 800 stores you previously planned to open there? Is that still on track, or is the COVID flareup you're seeing there weighing on that? Thank you. Kevin Ozan: Yes. So, let me start with the CapEx. The CapEx to your point we've said for this year it's $2.2 billion to $2.4 billion. I think we expect a relatively similar range for the next few years. The make-up of that $2.2 billion to $2.4 billion will be different to your point because -- we are -- we will be substantially complete with our remodeling in the US at the end of this year. So, more of the CapEx from a percentage standpoint and dollar standpoint will be on new units versus remodels, but the overall envelope will probably be relatively similar at this year in that $2.2 billion to $2.4 billion range. Regarding China, as you mentioned, we've indicated that right now we expect roughly 800 store openings this year. They opened about 250 or so in the first quarter. That's still on track, but we are keeping a close eye on that because of everything that's going on in China as you mentioned and we have two. There's been major lockdowns in some large cities certainly over the las

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SEC filings for MCD · Claim quote is verbatim from the 2022Q1 earnings call.