Arcos Dorados: Reports 3Q-2023 Financial Results

Montevideo / UY. (arc) Arcos Dorados Holdings Inc., Latin America’s largest restaurant chain and the world’s largest independent McDonald’s franchisee, reported unaudited results for the three and nine months ended September 30, 2023. Third quarter 2023 highlights:

  • Systemwide comparable sales grew 37.3 percent versus the prior year quarter, rising 1.4 times the period’s blended inflation rate.
  • Consolidated revenues reached USD 1.1 billion, rising 22.1 percent in US dollars and 42.9 percent in constant currency versus the prior year period.
  • Disciplined execution of a long-term growth strategy is driving strong performance across all sales channels and geographies with an increasingly modernized restaurant portfolio.
  • Consolidated Adjusted Ebitda of USD 129.1 million rose 25.8 percent in US dollars versus the prior year result, and 43.9 percent in constant currency.
  • Consolidated Adjusted Ebitda margin reached 11.5 percent in the quarter, expanding by 40 basis points versus the prior year period.
  • Basic net income per share was USD 0.28 in the quarter, compared to net income per share of USD 0.22 in the prior year quarter.
  • The Company opened 27 restaurants in the quarter, including 25 free-standing locations.
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