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CLAIM #39141 · McDonald’s Corporation (MCD) · 2024Q3 earnings call · Oct 29, 2024 · due Dec 31, 2025

And I think as we look into '25, we certainly feel confident in that.

Ian Borden · CFO

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versus commitment · official band 5 percent
Committed
And I think as we look into '25, we certainly feel confident in that.
Reported
Our total adjusted operating margin for the full year was 46.9%, in line with our expectations

In context

kind of track below? Ian Borden: Great. Thanks, Jon. Well, look, I think on margins, I would just go back to -- if you think about the momentum that we have been able to drive in the US business through the third quarter and at least to start in October, it's that kind of momentum that's going to be able to drive margin growth, both in percentage and dollars. And I think as you've heard us say today, we feel really confident we can get momentum back restored into the US business to where it was. And as we do that, we certainly feel confident about our ability to drive margin leverage because at the end of the day, if we've got greater volume, that's what allows us to obviously drive margins over time. So, I would say we feel good about our ability to do that as we're able to drive sales. And I think as we look into '25, we certainly feel confident in that. I think in terms of pricing power, I mean, you've heard us talk a lot about the more challenging environment, particularly in our international markets. I mean, consumers are certainly remaining resistant to pricing, but there are obviously different ways to kind of get at pricing. There's obviously taking price increases, but we've also got the ability through great marketing through full kind of margin promotions or menu excitement, things like the Big Arch, where we can get more effective pricing by just obviously influencing our mix. And I think we're going to obviously continue to be thoughtful about incremental pricing action because I think there's a lot of resistance. I think that there's pressure as a result of that on flow-through rates. I think we still feel we can get pricing,

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SEC filings for MCD · Claim quote is verbatim from the 2024Q3 earnings call.