CLAIM #39047 · McDonald’s Corporation (MCD) · 2023Q3 earnings call · Oct 30, 2023 · due Dec 31, 2023
“Foreign currency translation positively impacted third quarter results by about $0.08 per share with a slight tailwind expected - for the full year.”
Ian Borden · CFO
In context
“eted and temporary franchisee assistance, provided mainly to our European franchisees where elevated costs continue to pressure restaurant cash flows. We're still anticipating that these efforts will have an impact of $100 million to $150 million on our full year results. Total restaurant margin dollars grew by about $335 million in constant currencies or about 10% for the quarter. G&A for the quarter increased 1% in constant currency, and our adjusted effective tax rate for the quarter was nearly 21%. Adjusted year-to-date operating margin is 47.5%, driven by our strong top line growth. For the full year, we now expect adjusted operating margin to be about 47%, including an expected property gain in other operating income in the fourth quarter, and G&A of about 2.2% of system-wide sales. Foreign currency translation positively impacted third quarter results by about $0.08 per share with a slight tailwind expected - for the full year. As I wrap up, I want to touch on the recent dividend increase approved by our Board of Directors in early October. This marks our second consecutive annual increase of 10%, and we're extremely proud of our track record of delivering meaningful cash return to shareholders, marked by our 47th consecutive dividend increase. This demonstrates our confidence in the Accelerating the Arches strategy and our commitment to a long-term growth for the system and our shareholders. I look forward to sharing more with you at our investor update in December. And with that, I'm going to turn it back over to Chris. Chris Kempczinski: Thanks, Ian. As we continue to operate in a challenging macro environment, what remains unwavering is our commitment to creating an environment where the entire McDonald's sy”
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SEC filings for MCD ↗ · Claim quote is verbatim from the 2023Q3 earnings call.