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Home » McDonald’s Corporation’s (MCD) CEO Don Thompson on Q2 2014 Results – Earnings Call Transcript

McDonald’s Corporation’s (MCD) CEO Don Thompson on Q2 2014 Results – Earnings Call Transcript

Source: Seeking Alpha


McDonald’s Corporation (NYSE:MCD)

Q2 2014 Results Earnings Conference Call

July 22, 2014, 11:00 AM ET


Kathy Martin – VP of Investor Relations

Don Thompson – President and CEO

Peter J. Bensen – SEVP and CFO


Brian Bittner – Oppenheimer & Co.

Matt DiFrisco – Buckingham Research

Joe Buckley – Bank of America Merrill Lynch

David Tarantino – Robert W. Baird & Co.

David Palmer – RBC

Jeffery Bernstein – Barclays

Jeff Farmer – Wells Fargo

John Glass – Morgan Stanley

Jason West – Deutsche Bank

Sara Senatore – Sanford Bernstein

Bryan Elliott – Raymond James

John Ivankoe – JPMorgan

Keith Siegner – UBS

Paul Westra – Stifel Nicolaus & Co.


Hello and welcome to McDonald’s July 22, 2014 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 call over to Ms. Kathy Martin, Vice President of Investor Relations for McDonald’s Corporation. Ms. Martin, you may begin.

Kathy Martin – VP of Investor Relations

Thank you. Good morning everyone and thanks for joining us. With me on the call are our President and Chief Executive Officer, Don Thompson and our CFO, Pete Bensen. Today’s conference call is being webcast live and recorded for replay by phone, webcast, and podcast.

And before I turn it over to Don I want to remind everyone that the forward-looking statements in our earnings release and 8-K filing also apply to our comments. And both documents are both available at, as are reconciliations of any non-GAAP financial measures mentioned on today’s call with their corresponding GAAP measures.

Now I’d like to turn it over to Don.

Don Thompson – President and CEO

Thank you, Kathy and good morning everyone. Before I discuss our second quarter results I wanted to provide a brief perspective on our performance relative to our expectations. I also want to share with you how our strategies have evolved, to guide our actions going forward. As we shared with you at our Investor meeting last November and in the last couple of quarterly calls we entered 2014 well aware of the challenges we face for comparable sales and margins amid ongoing broad based challenges and cost pressures throughout our P&L. And we don’t expect any material changes to this operating environment in the second half of the year.

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