2020-11-09 09:06:54 MCD McDonald's
11/09/20 11/0909:06 11/09/2009:06 | McDonald's sees 2021, 2022 systemwide sales growth in the mid-single digitsAs a result of the COVID-19 pandemic and associated resurgences, countries around the world continue to be impacted by economic instability, government regulations and changes in consumer behavior. Due to this ongoing uncertainty, the Company continues to evaluate its financial expectations on an ongoing basis and will provide updates as situations warrant. Based on current conditions, the Company expects its strong foundation and new growth strategy to deliver the following key metrics for 2021 and 2022. Systemwide sales growth in the mid-single digits. For 2021, growth is as compared to 2019. For 2022, unit expansion is expected to contribute 1.5% to 2% to Systemwide sales growth. Operating margin percent in the low-to-mid 40s. Annual G&A spend of about 2.3% of Systemwide sales. Capital expenditures of approximately $2.3 billion, about half of which will be directed towards new unit expansion. Free cash flow conversion greater than 90%. Additionally, the Company's capital allocation priorities remain investing in the business for growth, paying dividends, and returning to pre-COVID-19 debt ratios. |
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