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McDonald's leadership is urging operators to stay the course on value offerings as the competition for consumers plays out across the restaurant space.

In a memo to U.S. operators following the company's third-quarter earnings, McDonald's U.S. President Joe Erlinger said the brand was "moving in the right direction" as it continues a more-than-yearlong push on value.

"Amid industry pressures, dynamic change, and aggressive competition, winning the fight for contracting traffic means staying customer-obsessed," Erlinger wrote in the memo, which was viewed by CNBC. The company did not immediately respond to request for comment.

On Wednesday, McDonald's reported earnings per share and revenue that came in be

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