CLAIM #39136 · McDonald’s Corporation (MCD) · 2024Q3 earnings call · Oct 29, 2024 · due Dec 31, 2024
“We're doing that obviously because we've got some relief on kind of the incentive-based part of G&A, but we're also being very disciplined in our current year spending in areas like travel, meetings, professional services, all the things that you would expect us to be doing in the current context while continuing to invest obviously in our enterprise transformation efforts”
Ian Borden · CFO
In context
“nt to make sure that it's consistent. And so, I think there's more work to do on that front. Obviously, we're continuing to move at pace to get that in place. And I think you'll see a few more things coming in over the next quarter or so around that so that we are in a position to be best placed in '25 irregardless of the context around us. And we're going to obviously continue to measure our performance through, are we taking share irregardless of that environment. I think on G&A, look, obviously, when G&A, the metric is as a percentage of sales and you've got pressure on sales, there's going to be obviously some implied pressure on that G&A metric. I think we are trying to do everything possible. And as you saw, we expect to be able to continue to deliver against our guidance this year. We're doing that obviously because we've got some relief on kind of the incentive-based part of G&A, but we're also being very disciplined in our current year spending in areas like travel, meetings, professional services, all the things that you would expect us to be doing in the current context while continuing to invest obviously in our enterprise transformation efforts and the strategic growth opportunities that we have in areas like digital and technology, which we know are critical to ensure we have a strong growth pipeline as we look forward. Chris Kempczinski: Yeah. I would just add, and maybe reiterate what Ian said, we are seeing a tough industry, UK, France, Germany, Australia, those are all markets where the industry traffic is down. That said, we are either gaining share or seeing sequential improvement in all of our major markets, which is encouraging. But I would also tell you, I'm not satisfied with the pace. And I think there's more that we need to do to step up and accelerate. There's a number of adjustments that are being made in each individual market to augment their value programs. And I think we have an opportunity to overlay on top o”
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SEC filings for MCD ↗ · Claim quote is verbatim from the 2024Q3 earnings call.