Welcome to our dedicated page for Arcos Dorados Holdings news (Ticker: ARCO), a resource for investors and traders seeking the latest updates and insights on Arcos Dorados Holdings stock.
Arcos Dorados Holdings Inc. (ARCO), the largest independent McDonald’s franchisee in Latin America and the Caribbean, operates a dynamic network of quick-service restaurants across 20 markets. This page serves as the definitive source for verified company updates, offering stakeholders timely access to strategic developments and operational milestones.
Track critical updates including quarterly earnings reports, sustainability initiatives like JANUS® biodegradable packaging, franchise expansions, and menu innovations tailored to regional preferences. Investors gain insights into financial performance, while industry observers monitor trends in the QSR sector’s environmental adaptation.
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Arcos Dorados (NYSE: ARCO), the largest McDonald's franchisee in Latin America and the Caribbean, reported a strong financial performance for the first quarter of 2024.
Total revenues reached $1.1 billion, marking a 9.1% increase year-over-year. Systemwide comparable sales grew by 38.6%, highlighting the company's continued guest volume growth for the twelfth consecutive quarter. Digital channels, including mobile app and kiosks, contributed to 55% of systemwide sales.
The company's loyalty program saw significant growth, with 8 million members, doubling the previous year-end total.
Consolidated Adjusted EBITDA increased by 8.4% to $108.9 million, while net income was $28.5 million, or $0.14 per share. The company also opened 22 new restaurants in Q1 2024.
Despite challenges in Argentina, Arcos Dorados maintained a solid Adjusted EBITDA margin in Brazil and North Latin America Division (NOLAD). However, the South Latin American Division (SLAD) faced difficulties due to hyperinflation in Argentina and social unrest in Ecuador.
Looking forward, Arcos Dorados plans to continue its growth strategy, focusing on digital channels and sustainable profitability.
Arcos Dorados Holdings Inc. has filed its annual report on Form 20-F for the fiscal year 2023 with the SEC. The company is the largest independent McDonald's franchisee in Latin America and the Caribbean, operating over 2,350 restaurants. Investors can access the report on the SEC website or the company's investor relations website. Arcos Dorados is committed to community development, providing job opportunities, and environmental impact.
