McDonald's Corporation (MCD) Q4 2022 Earnings Call Transcript

McDonald's Corporation (NYSE:MCD) Q4 2022 Earnings Conference Call January 31, 2023 8:30 AM ET

Company Participants

Mike Cieplak - IR

Christopher J. Kempczinski - President and CEO

Ian F. Borden - EVP and CFO

Conference Call Participants

David Palmer - Evercore ISI

David Tarantino - Robert W. Baird

Eric Gonzalez - KeyBanc Capital Markets

Jeffrey Bernstein - Barclays Bank

Brian Harbour - Morgan Stanley

Lauren Silberman - Crédit Suisse

Dennis Geiger - UBS

Sara Senatore - Bank of America Securities

Jon Tower - Citigroup

Andrew Charles - Cowen and Company

John Ivankoe - J.P. Morgan

Operator

Hello, and welcome to McDonald's Fourth Quarter 2022 Investor Conference Call. At the request of McDonald's Corporation, this conference is being recorded. Following today’s presentation, there will be a question-and-answer session for investors. [Operator Instructions].

I would now like to turn the conference over to Mr. Mike Cieplak, Investor Relations Officer for McDonald's Corporation. Mr. Cieplak, you may begin.

Mike Cieplak

Good morning, everyone, and thank you for joining us. With me on the call today are President and Chief Executive Officer, Chris Kempczinski; and Chief Financial Officer, Ian Borden.

As a reminder, the forward-looking statements in our earnings release and 8-K filing also apply to our comments on the call today. Both of those documents are available on our website as our reconciliations of any non-GAAP financial measures mentioned on today's call, along with their corresponding GAAP measures. Following prepared remarks this morning, we will take your questions. Please limit yourself to one question and reenter the queue for any additional questions. Today's conference call is being webcast and is also being recorded for replay via our website.

And now, I'll turn it over to Chris.

Christopher J. Kempczinski

Thank you and good morning, everyone. When we gathered at this time last year, we expected 2022 to be a year of recovery from the pandemic, particularly in Europe. Little did we know there would be another challenging year and nobody could have predicted the extent to which the war in Europe would disrupt businesses around the world and the macroeconomic impact that would follow.

Despite continued volatility in nearly every corner of the globe, McDonald’s delivered exceptional growth throughout 2022. We achieved full year comp sales growth of 10.9%, delivered strong guest count performance with 5% growth globally, and saw our momentum strengthen as the year progressed with double-digit comp sales growth across all segments in Q4.