CLAIM #39056 · McDonald’s Corporation (MCD) · 2023Q3 earnings call · Oct 30, 2023 · due Dec 31, 2023
“On the property gain, which is in our IOM segment, we expect that to be about $60 million.”
Ian Borden · CFO
In context
“do, and we're going to continue to deliver even in that more difficult environment. But broadly speaking, consistently really strong and consistent performance across the business that we're very, very pleased with. Mike Cieplak: Our next question is from Jon Tower with Citi. Jon Tower: Great. Thanks for taking the question. First clarification and then a question. Ian, could you provide potential range of the size of the property gain in the fourth quarter? And then second, I'm just curious to gain your thoughts on the recent NLRB ruling that's to be implemented, I believe, in December. And how you think this might influence your own business or that of the industry in the years ahead? Ian Borden: Jon, it's Ian. Let me take the first one, and then I'll turn it over to Chris on the NRLB. On the property gain, which is in our IOM segment, we expect that to be about $60 million. I think we've - you've probably heard us talk before, we get these kind of high-value individual properties that sometimes the highest and best use is different than what we're using it for today. This is an example of that. I don't think we certainly expect these are going to be occurring very often, but this is a case where that was just a good business decision to make, and that's what we're expecting in quarter four on that. Chris Kempczinski: Yes. And on the NLRB ruling, I mean, as you would expect, we strongly object to the last week's NLRB ruling. We think it's going to undermine small business ownership in the U.S. If you think about it, the franchise business model, it's really a great American innovation. It's created wealth for thousands, particularly underrepresent minorities”
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SEC filings for MCD ↗ · Claim quote is verbatim from the 2023Q3 earnings call.