• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Arcos Dorados Reports Third Quarter 2021 Financial Results

    11/10/21 7:30:00 AM ET
    $ARCO
    Restaurants
    Consumer Discretionary
    Get the next $ARCO alert in real time by email
    • Systemwide comparable sales1 grew 56.6% and rose 16.5% on a 2-year basis, including positive 2-year comparable sales growth in all divisions
    • Total Revenues1 reflected a more normalized operating environment, rising 60.1% in constant currency versus 2020 and 24.0% on a 2-year constant currency basis
    • Drive-thru and Delivery together contributed 49% to systemwide sales1, while Digital generated 36% of total sales even with improved on-premise sales performance
    • Consolidated Adjusted EBITDA1 reached $89.6 million, more than three times higher than the prior year and up 54.8% versus the 3Q19 in constant currency
    • Net Income1 of $25.2 million, or $0.12 per share, compared with a $(0.14) per share loss in the prior year quarter
    • Net Debt to Adjusted EBITDA declined to 2.0x

    Arcos Dorados Holdings, Inc. (NYSE:ARCO) ("Arcos Dorados" or the "Company"), Latin America's largest restaurant chain and the world's largest independent McDonald's franchisee, today reported unaudited results for the three and nine month periods ended September 30, 2021.

    Third Quarter 2021 Highlights – Excluding Venezuela

    • Systemwide comparable sales increased 56.6% and were up 16.5% on a 2-year basis, with positive 2-year comparable sales growth in all divisions.
    • Consolidated1 revenues totaled $723.4 million, rising 55.3% in US dollars or 60.1% on a constant currency basis versus 2020, and 24.0% in constant currency on a 2-year basis.
    • Consolidated1 Adjusted EBITDA of $89.6 million more than tripled the prior-year result and rose 54.8% versus the 3Q19 in constant currency.
    • Consolidated1 Adjusted EBITDA margin reached 12.4% in the quarter, benefitting from operating leverage in all line items versus 2020, and up 220 basis points versus 2019.
    • Basic net income per share1 was $0.12, compared to a basic net loss per share1 of $(0.14) in the prior year quarter.
    • Net Debt to Adjusted EBITDA leverage ratio declined to 2.0x on September 30, 2021.
    • Gross restaurant openings reached 41 new units through September, including 36 free-standing units and 34 new restaurants in Brazil.
    1Excluding the results of the Venezuelan operation.

     

    For definitions, please refer to page 14 of this document.

    "We are beginning to harvest the results of the long-term, strategic investments we made over the last several years as well as the efficiencies we built into the business in the last eighteen months. This was among the best third quarter results in the Company's history, demonstrating once again that McDonald's is the region's favorite QSR brand and Arcos Dorados is its strongest restaurant operator," said Marcelo Rabach, Chief Executive Officer of Arcos Dorados.

    "Brand Trust is near its highest-ever levels, thanks to the efforts we made to take care of our people, guests and the communities we serve. Whether it was protecting our employees' sources of income or offering Latin America's safest restaurant experience through the McProtegidos (McSafe) protocols, we built trust with all stakeholders. The Recipe for the Future ESG (Environmental, Social and Governance) platform will ensure that we continue using our Scale for the Good of our communities and the planet."

    "Arcos Dorados operates the region's largest free-standing restaurant portfolio, which we built deliberately over the course of decades, to ensure our ability to adapt to changes in guest needs and preferences. As we look ahead, we feel confident that we now enjoy structural competitive advantages that cannot be easily matched and that will be further leveraged by the Three D's strategy of Drive-thru, Delivery and Digital to accelerate sales and profitability performance for many years to come," he concluded.

    Third Quarter 2021 Results

    Consolidated

    Figure 1. AD Holdings Inc Consolidated: Key Financial Results

    (In millions of U.S. dollars, except as noted)
    3Q20

    (a)
    Currency

    Translation -

    Excl.

    Venezuela

    (b)

    Constant

    Currency

    Growth -

    Excl.

    Venezuela

    (c)
    Venezuela

    (d)
    3Q21

    (a+b+c+d)
    % As Reported
    Total Restaurants (Units)

    2,257

    2,263

     
    Sales by Company-operated Restaurants

    447.0

    (23.4)

    269.1

    1.4

    694.1

    55.3%

    Revenues from franchised restaurants

    19.8

    0.6

    11.2

    0.2

    31.8

    60.2%

    Total Revenues

    466.8

    (22.8)

    280.2

    1.6

    725.8

    55.5%

     
    Adjusted EBITDA

    25.0

    (0.8)

    64.6

    0.5

    89.3

    256.6%

    Adjusted EBITDA Margin

    5.4%

    12.3%

    Net income (loss) attributable to AD

    (29.6)

    (1.5)

    54.8

    0.9

    24.7

    NM

    No. of shares outstanding (thousands)

    208,951

    210,478

    EPS (US$/Share)

    (0.14)

    0.12

    (3Q21 = 3Q20 + Currency Translation Excl. Venezuela + Constant Currency Growth Excl. Venezuela + Venezuela). Refer to "Definitions" section for further detail.

    Arcos Dorados' consolidated results may continue to be impacted by Venezuela's macroeconomic volatility, including the ongoing hyperinflationary environment, which has historically led the Company to record significant non-cash accounting charges to operations in this market. As such, the discussion of the Company's operating performance continues to be focused on consolidated results that exclude Venezuela.

    Notable items in the Adjusted EBITDA reconciliation

    Included in Adjusted EBITDA: Other operating income / (expense) includes a $6.5 million net tax credit in Brazil in the third quarter of 2021.

    Excluded from Adjusted EBITDA: Reorganization and optimization expenses of $7.2 million within the Company's General & Administrative expenses (G&A), as described in the "Recent Developments" on page 13, are excluded from the third quarter of 2021 result. Additionally, the third quarter of 2020 excluded larger sums related to an insurance recovery in the SLAD division and write-offs of property and equipment in several markets.

    Third quarter net income attributable to the Company totaled $24.7 million, compared to a net loss of $29.6 million in the same period of 2020. Arcos Dorados' recorded earnings of $0.12 per share in the third quarter of 2021 compared to a loss of $(0.14) per share in the corresponding 2020 period. Total weighted average shares for the third quarter of 2021 amounted to 210,478,322 compared to 208,951,412 in the prior year's quarter.

    Consolidated – excluding Venezuela

    3Q20

    (a)
    Currency

    Translation

    (b)

    Constant

    Currency

    Growth

    (c)
    3Q21

    (a+b+c)
    % US Dollars % Constant

    Currency
    Total Restaurants (Units)

    2,143

    2,161

     
    Sales by Company-operated Restaurants

    446.2

    (23.4)

    269.1

    691.9

    55.1%

    60.3%

    Revenues from franchised restaurants

    19.7

    0.6

    11.2

    31.5

    59.5%

    56.6%

    Total Revenues

    465.9

    (22.8)

    280.2

    723.4

    55.3%

    60.1%

    Systemwide Comparable Sales

    Systemwide Comparable Sales, 2-year basis
    56.6%

    16.5%
    Adjusted EBITDA

    25.8

    (0.8)

    64.6

    89.6

    247.1%

    250.2%

    Adjusted EBITDA Margin

    5.5%

    12.4%

    Net income (loss) attributable to AD

    (28.2)

    (1.5)

    54.8

    25.2

    NM

    NM

    No. of shares outstanding (thousands)

    208,951

    210,478

    EPS (US$/Share)

    (0.14)

    0.12

    Excluding Arcos Dorados' Venezuelan operation, total revenues in US dollars increased 55.3%, or 60.1% in constant currency, versus the prior year period. These results reflect the continued normalization of operating conditions across Latin America and the Caribbean as well as the Company's significant competitive advantages, including brand trust, operational excellence, restaurant portfolio, drive-thru and delivery penetration and digital capabilities, among others.

    As of the date of this press release, all the Company's restaurants are open and more than 98% are operating all sales segments, although operating conditions are still not yet fully normalized.

    Systemwide comparable sales for the third quarter increased 56.6% and were up 16.5% on a 2-year basis, including positive results in all divisions. The Drive-thru and Delivery sales segments demonstrated strong constant currency growth of about 12% and 43%, respectively, on top of robust growth in the prior year and despite the steady recovery in mall stores and the Company's on-premise sales segments: front counter, dessert centers and McCafé. As a result, the contribution from these two segments remained above the Company's expectations for 2021. Taken together, Drive-thru and Delivery generated 49% of systemwide sales in the third quarter of 2021. Digital sales, which include Delivery, Mobile App and self-order kiosks, contributed 36% of sales in the quarter.

    Mc Donald's Brand trust in Latin America and the Caribbean was at very high levels in the quarter thanks to the ongoing McProtegidos (McSafe) Program in the Company's restaurants as well as its robust Recipe for the Future ESG initiatives. Arcos Dorados also operates, by a large margin, the most extensive portfolio of free-standing restaurants in the region, allowing it to not only quickly adapt to evolving guest preferences but also outperform in more challenging economic and operating environments in the future.

    Adjusted EBITDA – Excluding Venezuela ($ million)

    Consolidated Adjusted EBITDA of $89.6 million reflects the benefit of normalized sales levels, which generated operating leverage in all cost and expense line items compared with the prior year period. Consolidated Adjusted EBITDA margin was up 6.9 percentage points versus the third quarter of 2020, or 6.0 percentage points when adjusted for a $6.5 million net tax credit in Brazil. All divisions also met or exceeded pre-pandemic margin levels, with the Company's Consolidated Adjusted EBITDA margin up 2.2 percentage points, or 1.3 percentage points excluding the net tax credit, versus the third quarter of 2019.

    Consolidated General & Administrative (G&A) expenses increased by 39.4% versus the third quarter of 2020 primarily due to the aforementioned reorganization and optimization expenses and a lower base of comparison in the prior year when the Company implemented extraordinary cost saving measures to stabilize its operating cash flow at the beginning of the pandemic. Excluding the reorganization charges, G&A increased by 20.2% versus the third quarter of 2020 but was down 9.7% versus the third quarter of 2019.

    Non-operating Results – excluding Venezuela

    Arcos Dorados' non-operating results for the third quarter included a $14.8 million non-cash foreign currency exchange loss, compared to a non-cash loss of $8.6 million in the same period of 2020. Net interest expense was $1.0 million lower year-over-year. The Company recorded an income tax benefit of $1.4 million in the third quarter, compared to income tax expense of $7.1 million in the prior-year period.

    Third quarter net income attributable to the Company totaled $25.2 million, compared to a net loss of $28.2 million in the prior year period. Earnings per share were $0.12 in the third quarter 2021 compared to loss per share of $(0.14) in the prior year quarter.

    Analysis by Division:

    Brazil Division

    3Q20

    (a)
    Currency

    Translation

    (b)

    Constant

    Currency

    Growth

    (c)
    3Q21

    (a+b+c)
    % As Reported % Constant

    Currency
    Total Restaurants (Units)

    1,023

    1,052

     
    Total Revenues

    192.4

    7.5

    75.3

    275.2

    43.0%

    39.1%

    Systemwide Comparable Sales

    Systemwide Comparable Sales, 2-year basis
    36.2%

    0.7%
    Adjusted EBITDA

    21.5

    1.5

    29.2

    52.2

    142.7%

    135.8%

    Adjusted EBITDA Margin

    11.2%

    19.0%

    7.8%

    Brazil's revenues reached $275.2 million in the quarter, supported by 36.2% growth in systemwide comparable sales. On a 2-year basis, systemwide comparable sales in the quarter were up 0.7%, including mid-single-digit growth in September. Restaurant traffic improved across all formats as mobility increased with the reduction of government restrictions and this trend continued into October, which generated almost double-digit, 2-year systemwide comparable sales growth.

    Marketing activities in Brazil during the third quarter continued to focus on the "Three D's" strategy around Drive-thru, Delivery and Digital as the market enters its Full Revival phase. The Company increased momentum in the Drive-thru and Delivery segments while building on its market-leading Digital presence. The McDonald's App surpassed the 30 million downloads mark in Brazil and has a nearly 2 to 1 advantage in active users in the country, according to App Annie. Taken together, Digital channels generated 45% of the division's systemwide sales in the quarter.

    New product launches based on the Brand's unique flavors included a new line of McChicken sandwiches and allowing guests to purchase a bottle of the popular Tasty sauce to take home. Finally, the Company reinforced its Commitment to Families ESG pillar through a massive media campaign to communicate the elimination of all artificial colors and flavors from its kids menu as well as the first-ever 100% plastic-free Happy Meal toy collection.

    As reported Adjusted EBITDA in the division reached $52.2 million in the quarter, resulting in a 7.8 percentage point improvement in Adjusted EBITDA margin versus the prior year quarter. Flat F&P costs together with operating leverage in all other expense line items drove the positive margin performance. Similar to the second quarter of 2021, this year's third quarter result included a net tax credit due to the exclusion of ICMS from the Pis/Cofins calculation base. Excluding this $6.5 million net tax credit, the division's Adjusted EBITDA margin was up 5.4 percentage points versus the same period in 2020 and matched the 16.6% margin generated in the third quarter of 2019.

    NOLAD

    Figure 4. NOLAD Division: Key Financial Results

    (In millions of U.S. dollars, except as noted)
    3Q20

    (a)
    Currency

    Translation

    (b)

    Constant

    Currency

    Growth

    (c)
    3Q21

    (a+b+c)
    % As Reported % Constant

    Currency
    Total Restaurants (Units)

    513

    507

     
    Total Revenues

    68.3

    4.0

    41.7

    114.0

    66.9%

    61.1%

    Systemwide Comparable Sales

    Systemwide Comparable Sales, 2-year basis
    62.2%

    5.1%
    Adjusted EBITDA

    0.7

    0.3

    10.8

    11.7

    1489.5%

    1460.0%

    Adjusted EBITDA Margin

    1.1%

    10.3%

    9.2%

    As reported revenues were $114 million, notably already higher than the $110 million generated in the third quarter of 2019, with strong performances in Mexico and Panama overcoming tightened government-imposed operating restrictions in Costa Rica during the quarter. Systemwide comparable sales rose 62.2% and 5.1% on a 2-year basis, with double-digit 2-year growth in September 2021.

    Marketing activities in the quarter continued to focus on core products. Mexico executed a successful "Quarter Pounder Lovers" campaign with different versions of this iconic sandwich. The campaign's communication was built on craving and taste appeal, growing unit volume by 70% in the quarter. The Happy Meal included Space Jam: A New Legacy and also benefitted from the Company's exclusive access to Disney licenses, including Disney Princesses and Star Wars, exceeding sales expectations and driving record sales in the family business. Drive-thru sales remained strong in the division while Delivery accelerated sales across all three markets, achieving a sales record in the quarter.

    As reported Adjusted EBITDA reached $11.7 million in the third quarter compared with only $0.7 million in the prior year quarter and $10.7 million in the third quarter of 2019. Third quarter Adjusted EBITDA margin rose 920 basis points against 2020 and was also up 50 basis points versus 2019. The 2019 result included the refranchising of some restaurants in Mexico, which added 150 basis points to Adjusted EBITDA margin in the period. Excluding this benefit, third quarter 2021 Adjusted EBITDA margin was 200 basis points higher than the same period in 2019.

    SLAD

    Figure 5. SLAD Division: Key Financial Results

    (In millions of U.S. dollars, except as noted)
    3Q20

    (a)
    Currency

    Translation

    (b)

    Constant

    Currency

    Growth

    (c)
    3Q21

    (a+b+c)
    % As Reported % Constant

    Currency
    Total Restaurants (Units)

    397

    397

     
    Total Revenues

    97.8

    (33.5)

    138.5

    202.8

    107.3%

    141.6%

    Systemwide Comparable Sales

    Systemwide Comparable Sales, 2-year basis
    135.2%

    56.7%
    Adjusted EBITDA

    2.7

    (4.2)

    22.5

    21.0

    680.6%

    837.9%

    Adjusted EBITDA Margin

    2.8%

    10.4%

    7.6%

    As reported revenues reached $202.8 million, up from $195.3 million in the third quarter of 2019, with a particularly strong performance in Chile and inflation-aided growth in Argentina. As reported results were partly offset by the approximately 25% year-over-year average depreciation of the Argentine peso against the US dollar. Systemwide comparable sales rose 135.2% and 56.7% on a 2-year basis.

    Third quarter marketing activities in SLAD included the launch of the Premium Grand Tasty sandwiches in Argentina and Chile, quickly capturing double-digit share of total meals sold in those two countries. The dessert category improved its performance in the quarter, also growing double-digits in sales, with the launch of the McFlurry Trencito in Chile. The family business benefitted from the launch of the highly-anticipated movie Space Jam: A New Legacy, supporting strong Happy Meal sales in all of SLAD's markets.

    The Drive Thru VIP loyalty program, which is executed entirely through the Company's Mobile App, drove increased frequency among its 1.3 million registered users in SLAD, and more than 3.2 million registered users across all Arcos Dorados markets. The Own Delivery platform in Argentina also gained traction, with encouraging growth in average orders per restaurant during the quarter.

    As reported Adjusted EBITDA totaled $21.0 million, compared with $2.7 million in the prior year and $18.9 million in the third quarter of 2019. Operating leverage in all cost and expense line items drove the improved profitability, which included a 7.6 percentage points higher margin versus 2020 and 0.7 percentage points higher versus 2019.

    Caribbean Division

    Figure 6. Caribbean Division: Key Financial Results

    (In millions of U.S. dollars, except as noted)
    3Q20

    (a)
    Currency

    Translation -

    Excl.

    Venezuela

    (b)

    Constant

    Currency

    Growth -

    Excl.

    Venezuela

    (c)
    Venezuela

    (d)
    3Q21

    (a+b+c+d)
    % As

    Reported
    Total Restaurants (Units)

    324

    307

     
    Total Revenues

    108.3

    (0.8)

    24.7

    1.6

    133.8

    23.6%

     
    Adjusted EBITDA

    11.0

    (0.1)

    4.6

    0.5

    16.0

    44.9%

    Adjusted EBITDA Margin

    10.2%

    11.9%

    1.8%

    The Caribbean division's results may continue to be impacted by Venezuela's macroeconomic volatility, including the ongoing hyperinflationary environment, which has historically led the Company to record significant non-cash accounting charges to operations in this market. As such, the discussion of the Caribbean division's operating performance focuses on results that exclude the Company's operations in this country.

    Caribbean Division – excluding Venezuela

    Figure 7. Caribbean Division - Excluding Venezuela: Key Financial Results

    (In millions of U.S. dollars, except as noted)
    3Q20

    (a)
    Currency

    Translation

    (b)

    Constant

    Currency

    Growth

    (c)
    3Q21

    (a+b+c)
    % US Dollars % Constant

    Currency
    Total Restaurants (Units)

    210

    205

     
    Total Revenues

    107.4

    (0.8)

    24.7

    131.3

    22.3%

    23.0%

    Systemwide Comparable Sales

    Systemwide Comparable Sales, 2-year basis
    24.2%

    27.9%
    Adjusted EBITDA

    11.8

    (0.1)

    4.6

    16.2

    37.8%

    38.7%

    Adjusted EBITDA Margin

    11.0%

    12.4%

    1.4%

    Revenues in the Caribbean division, excluding Venezuela, increased 22.3% in US dollars, boosted by a 24.2% increase in systemwide comparable sales. Strong, post-pandemic rebounds in Colombia and Puerto Rico drove the result, again supported by the Drive-thru and Delivery segments as well as the implementation of a new eCommerce platform that enhanced the Company's digital capabilities in Colombia.

    Marketing activities in the Caribbean during the quarter included the launch of the Signature Chicken Sandwich "Spicyracha" in Colombia. Two months after the launch, sales remain above expectations as the Company continues its journey to grow the chicken category. Strong Happy Meal licenses also helped drive traffic in the quarter while strengthening the Brand's bond with families.

    The Caribbean, which already benefits from the Company's highest penetration of Drive-thru restaurants, accelerated Delivery sales with special promotions to support the Own Delivery channel in Colombia.

    As reported Adjusted EBITDA reached $16.2 million, compared with $11.8 million in the prior-year quarter and $4.9 million in the third quarter of 2019. Puerto Rico and Colombia were the main contributors to the year-over-year improvement. F&P costs and G&A expenses benefitted most from the operational leverage generated by the higher sales levels. Adjusted EBITDA margin reached 12.4%, an improvement of 1.4 percentage points versus prior year quarter, or 7.3 percentage points higher than the third quarter of 2019.

    New Unit Development

    Figure 8. Total Restaurants (eop)*
    September

    2021
    June

    2021
    March

    2021
    December

    2020
    September

    2020
    Brazil

    1,052

    1,044

    1,030

    1,020

    1,023

    NOLAD

    507

    507

    507

    507

    513

    SLAD

    397

    395

    391

    391

    397

    Caribbean

    307

    309

    314

    318

    324

    TOTAL

    2,263

    2,255

    2,242

    2,236

    2,257

    * Considers Company-operated and franchised restaurants at period-end
    Figure 9. Footprint as of September 30, 2021
    Store Type* Total

    Restaurants
    Ownership McCafes Dessert

    Centers
    FS & IS MS & FC Company

    Operated
    Franchised
    Brazil

    589

    463

    1,052

    632

    420

    91

    2,005

    NOLAD

    315

    192

    507

    354

    153

    14

    543

    SLAD

    233

    164

    397

    350

    47

    128

    393

    Caribbean

    244

    63

    307

    265

    42

    32

    310

    TOTAL

    1,381

    882

    2,263

    1,601

    662

    265

    3,251

    * FS: Free-Standing; IS: In-Store; MS: Mall Store; FC: Food Court.

    Arcos Dorados opened 12 new restaurants during the third quarter of 2021, including 10 new free-standing units in Brazil. For the year-to-date as of September 30, 2021, the Company opened 41 new restaurants, including 36 free-standing units and 34 new restaurants in Brazil. During the twelve-month period ended September 30, 2021, Arcos Dorados opened 42 new restaurants. At the end of the third quarter, the Company had 807 Experience of the Future Restaurants.

    Balance Sheet & Cash Flow Highlights

    Figure 10. Consolidated Financial Ratios

    (In thousands of U.S. dollars, except ratios)

    September 30

    December 31

    2021

    2020

    Cash & cash equivalents (i)

    206,904

    165,989

    Total Financial Debt (ii)

    652,477

    673,232

    Net Financial Debt (iii)

    445,573

    507,243

    Total Financial Debt / LTM Adjusted EBITDA ratio

    3.0

    9.9

    Net Financial Debt / LTM Adjusted EBITDA ratio

    2.0

    7.4

    (i) Cash & cash equivalents includes Short-term investment
    (ii)Total financial debt includes long-term debt, short-term debt, and derivative instruments (including the asset portion of derivatives amounting to $117.7 million and $122.6 million as a reduction of financial debt as of September 30, 2021 and December 31, 2020, respectively).
    (iii) Total financial debt less cash and cash equivalents.

    Cash and cash equivalents were $206.9 million and total financial debt (including the value of derivative instruments) was $652.5 million, as of September 30, 2021. Net debt (Total Financial Debt minus Cash and cash equivalents) was $445.6 million.

    During the second quarter of 2021, the Company monetized the value of certain of its derivative instruments, generating $23.2 million, which it used together with cash on hand during the second and third quarters of 2021, to repurchase $13.8 million of its outstanding 2023 Senior Notes and $17.4 million of its outstanding 2027 Senior Notes.

    The Net Debt to Adjusted EBITDA leverage ratio improved to 2.0x as of the end of the quarter, due to the increased trailing-twelve-month Adjusted EBITDA, higher cash balance and lower total financial debt. This leverage ratio exceeds the Company's guidance for the year-end 2021.

    Net cash generated from operating activities for the nine months ended September 30, totaled $138.6 million, while cash used in net investing activities totaled $68.5 million. Capital expenditures totaled $73.1 million, compared with $64.8 million in the previous year's period. Net cash used in financing activities was $15.4 million.

    Recent Developments

    Divisional Reorganization

    Effective October 1, 2021, the Company made certain changes in its internal management structure, in order to gain operational agility, leading the Company to reorganize its operation into three geographic divisions, as follows: (i) Brazil (ii) the South Latin American division, or "SLAD," which is now comprised of Chile, Argentina, Colombia, Ecuador, Peru, Uruguay, Venezuela, Trinidad, Aruba and Curaçao (iii) the North Latin American division, or "NOLAD," which is now comprised of Mexico, Puerto Rico, Costa Rica, Panama, Martinique, Guadeloupe, French Guyana, St. Croix and St. Thomas. In accordance with ASC 280 Segment Reporting, the Company will begin providing information based on the revised structure of its geographic divisions with its report for the annual period ended December 31, 2021.

    Appointment of New Chief Technology Officer

    Effective October 1, 2021, Magdalena Gonzalez Victorica became the Company's new Chief Technology Officer ("CTO"). Mrs. Gonzalez Victorica was previously head of the Company's Digital Factory ("ADvance"), which was created to accelerate its digital transformation, where she led the successful expansion of its Delivery and Digital capabilities. As CTO, she is now responsible for the Company's information technology infrastructure and data/analytics efforts in addition to continuing to lead ADvance. Mrs. Gonzalez Victorica originally joined the Company's Finance Department in Argentina in September 1999 and has been involved in or led projects related to Technology and the Shared Services Center. Prior to her role as head of ADvance, she led the Company's Experience of the Future (EOTF) restaurant modernization initiative. Mrs. Gonzalez Victorica holds a Bachelor's Degree in Accounting from the Universidad Católica Argentina.

    Third Quarter 2021 Earnings Webcast

    A webcast to discuss the information contained in this press release will be held today, November 10, 2021, at 10:00 a.m. ET. In order to access the webcast, members of the investment community should follow this link Arcos Dorados Third Quarter 2021 Results Webcast.

    A replay of the webcast will be available later today through February 10, 2022 in the investor section of the Company's website: www.arcosdorados.com/ir.

    Definitions:

    Systemwide comparable sales growth and Systemwide comparable sales growth 2-year basis: refers to the change, measured in constant currency, in our Company-operated and franchised restaurant sales in one period from a comparable period for restaurants that have been open for thirteen months or longer (year-over-year basis) or for twenty-five months or longer (2-year basis). While sales by our franchisees are not recorded as revenues by us, we believe the information is important in understanding our financial performance because these sales are the basis on which we calculate and record franchised revenues and are indicative of the financial health of our franchisee base.

    Constant currency basis: refers to amounts calculated using the same exchange rate over the periods under comparison to remove the effects of currency fluctuations from this trend analysis (in this release, this could be calculated a one-year basis when comparing with the previous year or on a 2-year basis when comparing with the same period in 2019). To better discern underlying business trends, this release uses non-GAAP financial measures that segregate year-over-year growth into two categories: (i) currency translation, (ii) constant currency growth. (i) Currency translation reflects the impact on growth of the appreciation or depreciation of the local currencies in which we conduct our business against the US dollar (the currency in which our financial statements are prepared). (ii) Constant currency growth reflects the underlying growth of the business excluding the effect from currency translation.

    Excluding Venezuela basis: due to the ongoing political and macroeconomic uncertainty prevailing in Venezuela, and in order to provide greater clarity and visibility on the Company's financial and operating overall performance, this release focuses on the results on an "Excluding-Venezuela" basis, which is non-GAAP measure.

    Adjusted EBITDA: In addition to financial measures prepared in accordance with the general accepted accounting principles (GAAP), within this press release and the accompanying tables, we use a non-GAAP financial measure titled ‘Adjusted EBITDA'. We use Adjusted EBITDA to facilitate operating performance comparisons from period to period.

    Adjusted EBITDA is defined as our operating income plus depreciation and amortization plus/minus the following losses/gains included within other operating income (expenses), net, and within general and administrative expenses in our statement of income: gains from sale or insurance recovery of property and equipment; write-offs of property and equipment; impairment of long-lived assets and goodwill; and reorganization and optimization plan expenses.

    We believe Adjusted EBITDA facilitates company-to-company operating performance comparisons by backing out potential differences caused by variations such as capital structures (affecting net interest expense and other financial charges), taxation (affecting income tax expense) and the age and book depreciation of facilities and equipment (affecting relative depreciation expense), which may vary for different companies for reasons unrelated to operating performance. Figure 11 of this earnings release includes a reconciliation for Adjusted EBITDA. For more information, please see Adjusted EBITDA reconciliation in Note 9 of our financial statements (6-K Form) filed today with the S.E.C.

    About Arcos Dorados

    Arcos Dorados is the world's largest independent McDonald's franchisee, operating the largest quick service restaurant chain in Latin America and the Caribbean. It has the exclusive right to own, operate and grant franchises of McDonald's restaurants in 20 Latin American and Caribbean countries and territories with more than 2,250 restaurants, operated by the Company or by its sub-franchisees, that together employ over 90 thousand people (as of 09/30/2021). The Company is also committed to the development of the communities in which it operates, to providing young people their first formal job opportunities and to utilize its Scale for Good to achieve a positive environmental impact. Arcos Dorados is listed for trading on the New York Stock Exchange (NYSE:ARCO). To learn more about the Company, please visit the Investors section of our website: www.arcosdorados.com/ir.

    Cautionary Statement on Forward-Looking Statements

    This press release contains forward-looking statements. The forward-looking statements contained herein include statements about the Company's business prospects, its ability to attract customers, its affordable platform, its expectation for revenue generation and its outlook and guidance for 2021. These statements are subject to the general risks inherent in Arcos Dorados' business. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, Arcos Dorados' business and operations involve numerous risks and uncertainties, many of which are beyond the control of Arcos Dorados, which could result in Arcos Dorados' expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of Arcos Dorados. Additional information relating to the uncertainties affecting Arcos Dorados' business is contained in its filings with the Securities and Exchange Commission. The forward-looking statements are made only as of the date hereof, and Arcos Dorados does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events.

    Third Quarter and First Nine Months 2021 Consolidated Results

    Figure 11. Third Quarter 2021 Consolidated Results

    (In thousands of U.S. dollars, except per share data)
    For Three Months ended

    For Nine Months ended
    September 30, September 30,

    2021

    2020

    2021

    2020

    REVENUES
    Sales by Company-operated restaurants

    694,079

    446,977

    1,798,060

    1,314,221

    Revenues from franchised restaurants

    31,757

    19,821

    81,588

    62,606

    Total Revenues

    725,836

    466,799

    1,879,648

    1,376,827

    OPERATING COSTS AND EXPENSES
    Company-operated restaurant expenses:
    Food and paper

    (244,527)

    (158,289)

    (640,541)

    (471,791)

    Payroll and employee benefits

    (125,228)

    (95,543)

    (349,493)

    (301,527)

    Occupancy and other operating expenses

    (204,293)

    (144,338)

    (565,226)

    (458,060)

    Royalty fees

    (35,623)

    (26,402)

    (92,521)

    (77,071)

    Franchised restaurants - occupancy expenses

    (13,342)

    (10,825)

    (37,321)

    (30,776)

    General and administrative expenses

    (53,522)

    (38,561)

    (147,840)

    (124,608)

    Other operating income / (expense), net

    1,442

    3,100

    15,046

    (1,466)

    Total operating costs and expenses

    (675,093)

    (470,858)

    (1,817,896)

    (1,465,299)

    Operating income / (loss)

    50,743

    (4,059)

    61,752

    (88,472)

    Net interest expense

    (14,028)

    (15,024)

    (39,735)

    (44,252)

    (Loss) / Incomefrom derivative instruments

    (809)

    79

    (6,190)

    (383)

    Gain from securities

    0

    5,118

    0

    18,070

    Foreign currency exchange results

    (14,909)

    (8,555)

    (9,090)

    (44,995)

    Other non-operating income / (expenses), net

    2,439

    (111)

    2,219

    (132)

    Income / (Loss) before income taxes

    23,436

    (22,552)

    8,956

    (160,164)

    Income tax expense

    1,439

    (7,049)

    (8,749)

    (11,344)

    Net income / (loss)

    24,875

    (29,601)

    207

    (171,508)

    Net (loss) / income attributable to non-controlling interests

    (170)

    (10)

    (282)

    20

    Net income / (loss) attributable to Arcos Dorados Holdings Inc.

    24,705

    (29,611)

    (75)

    (171,488)

    Earnings per share information ($ per share):
    Basic net income / (loss) per common share

    $ 0.12

    $ (0.14)

    $ (0.00)

    $ (0.83)

    Weighted-average number of common shares outstanding-Basic

    210,478,322

    208,951,412

    210,355,905

    207,757,910

    Adjusted EBITDA Reconciliation
    Operating income / (loss)

    50,743

    (4,059)

    61,752

    (88,472)

    Depreciation and amortization

    31,032

    30,841

    91,194

    96,463

    Operating charges excluded from EBITDA computation

    7,512

    (1,746)

    7,428

    2,660

    Adjusted EBITDA

    89,287

    25,036

    160,374

    10,651

    Adjusted EBITDA Margin as % of total revenues

    12.3%

    5.4%

    8.5%

    0.8%

    Third Quarter and First Nine Months 2021 Consolidated Results – Excluding Venezuela

    Figure 12. Third Quarter 2021 Consolidated Results - Excluding Venezuela

    (In thousands of U.S. dollars, except per share data)
    For Three Months ended

    For Nine Months ended
    September 30, September 30,

    2021

    2020

    2021

    2020

    REVENUES
    Sales by Company-operated restaurants

    691,910

    446,182

    1,793,528

    1,311,716

    Revenues from franchised restaurants

    31,451

    19,724

    80,944

    62,296

    Total Revenues

    723,361

    465,906

    1,874,472

    1,374,012

    OPERATING COSTS AND EXPENSES
    Company-operated restaurant expenses:
    Food and paper

    (243,813)

    (158,259)

    (639,313)

    (471,515)

    Payroll and employee benefits

    (124,966)

    (95,374)

    (348,794)

    (300,714)

    Occupancy and other operating expenses

    (203,447)

    (143,624)

    (562,860)

    (455,767)

    Royalty fees

    (35,624)

    (26,402)

    (92,521)

    (77,071)

    Franchised restaurants - occupancy expenses

    (13,259)

    (10,760)

    (37,100)

    (30,489)

    General and administrative expenses

    (52,714)

    (37,822)

    (145,568)

    (122,347)

    Other operating income / (expense), net

    1,577

    3,813

    16,183

    1,207

    Total operating costs and expenses

    (672,247)

    (468,429)

    (1,809,973)

    (1,456,695)

    Operating income / (loss)

    51,115

    (2,522)

    64,499

    (82,682)

    Net interest expense

    (14,030)

    (15,024)

    (39,738)

    (44,255)

    (Loss) / Income from derivative instruments

    (809)

    79

    (6,190)

    (383)

    Gain from securities

    0

    5,118

    0

    18,070

    Foreign currency exchange results

    (14,804)

    (8,634)

    (9,317)

    (45,185)

    Other non-operating income / (expenses), net

    2,441

    (111)

    2,221

    (132)

    Income / (Loss) before income taxes

    23,912

    (21,095)

    11,475

    (154,567)

    Income tax expense

    1,439

    (7,123)

    (8,733)

    (11,403)

    Net income / (loss)

    25,352

    (28,218)

    2,742

    (165,970)

    Net (loss) / income attributable to non-controlling interests

    (170)

    (10)

    (282)

    20

    Net income / (loss) attributable to Arcos Dorados Holdings Inc.

    25,182

    (28,228)

    2,460

    (165,950)

    Earnings per share information ($ per share):
    Basic net income / (loss) per common share

    $ 0.12

    $ (0.14)

    $ 0.01

    $ (0.80)

    Weighted-average number of common shares outstanding-Basic

    210,478,322

    208,951,412

    210,355,905

    207,757,910

    Adjusted EBITDA Reconciliation
    Operating income / (loss)

    51,115

    (2,522)

    64,499

    (82,682)

    Depreciation and amortization

    30,912

    30,350

    90,737

    95,284

    Operating charges excluded from EBITDA computation

    7,541

    (2,023)

    7,376

    1,551

    Adjusted EBITDA

    89,568

    25,805

    162,613

    14,153

    Adjusted EBITDA Margin as % of total revenues

    12.4%

    5.5%

    8.7%

    1.0%

    Third Quarter and First Nine Months 2021 Results by Division

    Figure 13. Third Quarter 2021 Consolidated Results by Division

    (In thousands of U.S. dollars)
    3Q YTD
    Three Months ended

    % Incr. Constant Nine Months ended % Incr. Constant
    September 30, / Currency September 30, / Currency

    2021

    2020

    (Decr) Incr/(Decr)%

    2021

    2020

    (Decr) Incr/(Decr)%
    Revenues
    Brazil

    275,229

    192,402

    43.0%

    39.1%

    704,219

    609,017

    15.6%

    21.7%

    Caribbean

    133,783

    108,257

    23.6%

    NA

    369,820

    261,110

    41.6%

    NA
    Caribbean - Excl. Venezuela

    131,307

    107,364

    22.3%

    23.0%

    364,644

    258,292

    41.2%

    39.5%

    NOLAD

    114,047

    68,326

    66.9%

    61.1%

    309,989

    216,302

    43.3%

    40.2%

    SLAD

    202,778

    97,814

    107.3%

    141.6%

    495,620

    290,398

    70.7%

    99.1%

    TOTAL

    725,837

    466,799

    55.5%

    NA

    1,879,648

    1,376,827

    36.5%

    NA
    TOTAL - Excl. Venezuela

    723,361

    465,906

    55.3%

    60.1%

    1,874,472

    1,374,010

    36.4%

    44.3%

     
     
    Operating Income (loss)
    Brazil

    36,925

    7,676

    381.0%

    367.2%

    57,100

    (2,370)

    NM

    NM

    Caribbean

    11,062

    4,959

    123.1%

    NA

    21,632

    (5,244)

    NM

    NA
    Caribbean - Excl. Venezuela

    11,437

    6,496

    76.1%

    77.3%

    24,379

    544

    4383.6%

    4284.6%

    NOLAD

    5,409

    (5,227)

    NM

    NM

    7,316

    (15,736)

    NM

    NM

    SLAD

    14,734

    463

    3080.8%

    4052.5%

    23,799

    (27,846)

    NM

    NM

    Corporate and Other

    (17,389)

    (11,932)

    -45.7%

    -63.1%

    (48,095)

    (37,276)

    29.0%

    -51.4%

    TOTAL

    50,741

    (4,061)

    NM

    NA

    61,752

    (88,472)

    NM

    NA
    TOTAL - Excl. Venezuela

    51,116

    (2,524)

    NM

    NM

    64,499

    (82,684)

    NM

    NM

     
     
    Adjusted EBITDA
    Brazil

    52,188

    21,507

    142.7%

    135.8%

    99,545

    43,578

    128.4%

    131.0%

    Caribbean

    15,964

    11,018

    44.9%

    NA

    38,786

    12,817

    202.6%

    NA
    Caribbean - Excl. Venezuela

    16,246

    11,787

    37.8%

    38.7%

    41,025

    16,313

    151.5%

    147.0%

    NOLAD

    11,711

    737

    1489.5%

    1460.0%

    23,264

    1,760

    1221.8%

    1209.5%

    SLAD

    21,007

    2,691

    680.6%

    837.9%

    40,197

    (13,436)

    NM

    NM

    Corporate and Other

    (11,583)

    (10,919)

    -6.1%

    -22.9%

    (41,418)

    (34,068)

    21.6%

    -44.2%

    TOTAL

    89,287

    25,034

    256.6%

    NA

    160,374

    10,651

    1405.7%

    NA
    TOTAL - Excl. Venezuela

    89,569

    25,803

    247.1%

    250.2%

    162,613

    14,147

    1049.0%

    1049.7%

    Figure 14. Average Exchange Rate per Quarter*

    Brazil Mexico Argentina

    3Q21

    5.23

    20.02

    97.22

    3Q20

    5.38

    22.06

    73.27

    * Local $ per 1 US$

    Summarized Consolidated Balance Sheets

    Figure 15. Summarized Consolidated Balance Sheets

    (In thousands of U.S. dollars)
    September 30

    December 31

    2021

    2020

    ASSETS
    Current assets
    Cash and cash equivalents

    206,904

    165,989

    Accounts and notes receivable, net

    75,542

    94,249

    Other current assets (1)

    144,285

    155,293

    Total current assets

    426,731

    415,531

    Non-current assets
    Property and equipment, net

    747,913

    796,532

    Net intangible assets and goodwill

    36,456

    37,046

    Deferred income taxes

    60,672

    55,567

    Derivative instruments

    117,685

    121,901

    Leases right of use assets, net

    780,388

    790,969

    Other non-current assets (2)

    77,987

    76,408

    Total non-current assets

    1,821,101

    1,878,423

    Total assets

    2,247,832

    2,293,954

    LIABILITIES AND EQUITY
    Current liabilities
    Accounts payable

    212,010

    209,535

    Taxes payable (3)

    99,311

    91,284

    Accrued payroll and other liabilities

    93,233

    79,218

    Other current liabilities (4)

    27,128

    56,726

    Provision for contingencies

    2,053

    2,024

    Financial debt (5)

    9,529

    7,856

    Operating lease liabilities

    55,139

    56,828

    Total current liabilities

    498,403

    503,471

    Non-current liabilities
    Accrued payroll and other liabilities

    20,909

    21,884

    Provision for contingencies

    29,831

    24,924

    Financial debt (6)

    760,633

    787,979

    Deferred income taxes

    4,745

    5,067

    Operating lease liabilities

    746,562

    752,613

    Total non-current liabilities

    1,562,680

    1,592,467

    Total liabilities

    2,061,083

    2,095,938

    Equity
    Class A shares of common stock

    388,369

    386,603

    Class B shares of common stock

    132,915

    132,915

    Additional paid-in capital

    10,019

    11,540

    Retained earnings

    270,619

    290,895

    Accumulated other comprehensive losses

    (596,486)

    (584,860)

    Common stock in treasury

    (19,367)

    (39,547)

    Total Arcos Dorados Holdings Inc shareholders' equity

    186,069

    197,546

    Non-controlling interest in subsidiaries

    680

    470

    Total equity

    186,749

    198,016

    Total liabilities and equity

    2,247,832

    2,293,954

    (1) Includes "Other receivables", "Inventories", "Prepaid expenses and other current assets", "McDonald's Corporation's indemnification for contingencies", and "Derivative Intruments".
    (2) Includes "Miscellaneous", "Collateral deposits", and "McDonald´s Corporation indemnification for contingencies". 
    (3) Includes "Income taxes payable" and "Other taxes payable".
    (4) Includes "Royalties payable to McDonald´s Corporation" and "Interest payable".
    (5) Includes "Current portion of long-term debt" and "Derivative instruments".
    (6) Includes "Long-term debt, excluding current portion" and "Derivative instruments".
     

     

     

     


    View source version on businesswire.com: https://www.businesswire.com/news/home/20211110005749/en/

    Get the next $ARCO alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $ARCO

    DatePrice TargetRatingAnalyst
    12/1/2023$15.00Buy
    Jefferies
    9/27/2022$9.00Overweight
    Barclays
    4/4/2022$8.00Buy → Hold
    HSBC Securities
    3/24/2022$7.80 → $10.00Neutral → Buy
    BofA Securities
    2/23/2022$9.50Neutral → Outperform
    Credit Suisse
    1/19/2022$6.00 → $7.00Neutral → Buy
    Goldman Sachs
    9/20/2021Buy → Neutral
    BofA Securities
    7/2/2021$8.00 → $8.50Overweight
    JP Morgan
    More analyst ratings

    $ARCO
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Arcos Dorados Holdings Inc. Announces the Filing of Its Annual Report on Form 20-F for Fiscal Year 2024

      Arcos Dorados Holdings Inc. (NYSE:ARCO) ("Arcos Dorados" or the "Company"), hereby announces that on this date the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 (the "2024 Annual Report") with the Securities and Exchange Commission (the "SEC"). The 2024 Annual Report can be accessed by visiting either the SEC's website at www.sec.gov or the SEC Filings section of the Company's investor relations website at ir.arcosdorados.com. In addition, shareholders may receive a hard copy of the Company's complete audited financial statements free of charge, by requesting a copy from: Investor Relations Contact Media Contact Dan Schleiniger David

      4/29/25 4:43:00 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados Holdings Inc. First Quarter 2025 Results Webcast Date and Time

      Scheduled for: Wednesday, May 14, 2025 10:00 a.m. New York / 11:00 a.m. Montevideo You are invited to join the senior management of Arcos Dorados Holdings Inc. (NYSE:ARCO) on a webcast to discuss the Company's results for the first quarter ended March 31, 2025, which will be released before the market opens on Wednesday, May 14, 2025. Marcelo Rabach, Chief Executive Officer, and senior management will host the webcast. Opening remarks will be followed by a question-and-answer period. Participants will be able to join the webcast (Google Chrome is recommended) using the following link: Arcos Dorados First Quarter 2025 Earnings Webcast. The link will also be available on the Events section o

      4/16/25 7:00:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados to Participate in Upcoming Investor Events

      Arcos Dorados Holdings Inc. (NYSE:ARCO) ("Arcos Dorados" or the "Company"), Latin America's largest restaurant chain and the world's largest independent McDonald's franchisee, today announced its participation in the following investor events: BTG Latam Opportunities Conference 2025. This in-person event will be held in London on Tuesday, March 18 and Wednesday, March 19, 2025, and the Company will participate on both days. Morgan Stanley 17th Annual Latin America Executive Conference. This in-person event will be held in New York on Wednesday, April 2 and Thursday, April 3, 2025, and the Company will participate on both days. Bradesco BBI 10th Brazil Investment Forum. This in-person

      3/13/25 5:00:00 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary

    $ARCO
    SEC Filings

    See more
    • Amendment: SEC Form SCHEDULE 13G/A filed by Arcos Dorados Holdings Inc.

      SCHEDULE 13G/A - Arcos Dorados Holdings Inc. (0001508478) (Subject)

      5/7/25 12:47:45 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Amendment: SEC Form SCHEDULE 13G/A filed by Arcos Dorados Holdings Inc.

      SCHEDULE 13G/A - Arcos Dorados Holdings Inc. (0001508478) (Subject)

      5/7/25 12:46:33 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Amendment: SEC Form SCHEDULE 13G/A filed by Arcos Dorados Holdings Inc.

      SCHEDULE 13G/A - Arcos Dorados Holdings Inc. (0001508478) (Subject)

      5/7/25 12:45:41 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary

    $ARCO
    Financials

    Live finance-specific insights

    See more
    • Arcos Dorados Reports Third Quarter Financial Results

      Total revenues of $1.1 billion established a new high for a third quarter. Systemwide comparable sales1 grew 32.1% year-over-year, with positive average check and guest volume contributing to the result. Digital channel sales (from Mobile App, Delivery and Self-order Kiosks) rose 16% versus the prior year period and represented 58% of systemwide sales in third quarter. Loyalty Program implemented in three markets, grew to 12.9 million registered members2. Consolidated Adjusted EBITDA1 was $125.0 million, with an 11.0% margin. Net Income was $35.2 million in the quarter, or $0.17 per share. Arcos Dorados Holdings Inc. (NYSE:ARCO) ("Arcos Dorados" or the "Company"), Latin A

      11/13/24 7:33:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados Reports Second Quarter Financial Results

      Total revenues of $1.1 billion in the quarter, up 6.8% in US dollars versus the prior year period. Systemwide comparable sales¹ grew 40.8% year-over-year, including strong guest volume growth. Digital channels (Mobile App, Delivery and Self-order Kiosks) accounted for more than 57% of systemwide sales in the period, including 24% identified sales. Loyalty Program implemented in three markets, grew to 11.2 million registered members2. Consolidated Adjusted EBITDA¹ was $118.8 million, rising 7.9% year-over-year in US dollars. Net Income was $26.6 million in the second quarter, or $0.13 per share. Arcos Dorados Holdings Inc. (NYSE:ARCO) ("Arcos Dorados" or the "Company"), La

      8/14/24 7:30:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados Reports Strong Fourth Quarter and Full Year 2023 Financial Results

      Total revenues reached $1.2 billion in the fourth quarter and $4.3 billion for the full year 2023, the Company's strongest US dollar results for both periods Systemwide comparable sales1 grew 32.4% in the fourth quarter and 34.6% in the full year 2023, up 1.1x and 1.3x blended inflation, respectively Digital channel sales (Mobile App, Delivery and Self-order Kiosks) contributed 53% of the fourth quarter's systemwide sales, including 21% identified sales Consolidated Adjusted EBITDA1 in the fourth quarter and full year were $132.6 million and $472.3 million, respectively, also the Company's strongest US dollar results for each period Net Income in the fourth quarter was $55.8 mi

      3/13/24 7:30:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary

    $ARCO
    Leadership Updates

    Live Leadership Updates

    See more
    • Arcos Dorados Holdings Inc. First Quarter 2025 Results Webcast Date and Time

      Scheduled for: Wednesday, May 14, 2025 10:00 a.m. New York / 11:00 a.m. Montevideo You are invited to join the senior management of Arcos Dorados Holdings Inc. (NYSE:ARCO) on a webcast to discuss the Company's results for the first quarter ended March 31, 2025, which will be released before the market opens on Wednesday, May 14, 2025. Marcelo Rabach, Chief Executive Officer, and senior management will host the webcast. Opening remarks will be followed by a question-and-answer period. Participants will be able to join the webcast (Google Chrome is recommended) using the following link: Arcos Dorados First Quarter 2025 Earnings Webcast. The link will also be available on the Events section o

      4/16/25 7:00:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados Holdings Inc. Fourth Quarter 2024 Results Webcast Date and Time

      Scheduled for: Wednesday, March 12, 2025 10:00 a.m. New York / 11:00 a.m. Montevideo You are invited to join the senior management of Arcos Dorados Holdings Inc. (NYSE:ARCO) on a webcast to discuss the Company's results for the fourth quarter and full year ended December 31, 2024, which will be released before the market opens on Wednesday, March 12, 2025. Marcelo Rabach, Chief Executive Officer, and senior management will host the webcast. Opening remarks will be followed by a question and answer period. Participants will be able to join the webcast (Google Chrome is recommended) using the following link: Arcos Dorados Fourth Quarter 2024 Earnings Webcast. The link will also be availab

      2/13/25 8:00:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados Holdings Inc. Third Quarter 2024 Results Webcast Date and Time

      Scheduled for:  Wednesday, November 13, 2024  10:00 a.m. New York / 12:00 p.m. Montevideo You are invited to join the senior management of Arcos Dorados Holdings Inc. (NYSE:ARCO) on a webcast to discuss the Company's results for the third quarter ended September 30, 2024, which will be released before the market opens on Wednesday, November 13, 2024. Marcelo Rabach, Chief Executive Officer, and senior management will host the webcast. Opening remarks will be followed by a question and answer period. Participants will be able to join the webcast (Google Chrome is recommended) using the following link: Arcos Dorados Third Quarter 2024 Results Webcast. The link will also be available on the

      10/14/24 7:30:00 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary

    $ARCO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Jefferies initiated coverage on Arcos Dorados with a new price target

      Jefferies initiated coverage of Arcos Dorados with a rating of Buy and set a new price target of $15.00

      12/1/23 7:22:13 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Barclays initiated coverage on Arcos Dorados with a new price target

      Barclays initiated coverage of Arcos Dorados with a rating of Overweight and set a new price target of $9.00

      9/27/22 7:16:41 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • Arcos Dorados downgraded by HSBC Securities with a new price target

      HSBC Securities downgraded Arcos Dorados from Buy to Hold and set a new price target of $8.00

      4/4/22 8:55:19 AM ET
      $ARCO
      Restaurants
      Consumer Discretionary

    $ARCO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G filed by Arcos Dorados Holdings Inc.

      SC 13G - Arcos Dorados Holdings Inc. (0001508478) (Subject)

      11/14/24 1:22:34 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • SEC Form SC 13G filed by Arcos Dorados Holdings Inc.

      SC 13G - Arcos Dorados Holdings Inc. (0001508478) (Subject)

      10/9/24 12:28:52 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Arcos Dorados Holdings Inc. (Amendment)

      SC 13G/A - Arcos Dorados Holdings Inc. (0001508478) (Subject)

      2/16/24 7:56:04 PM ET
      $ARCO
      Restaurants
      Consumer Discretionary