Arcos Dorados Q2 Earnings Top Estimates

Arcos Dorados Holdings Inc ARCO reported second-quarter FY21 revenue growth of 102% year-on-year, to $592.7 million, beating the analyst consensus of $542.45 million.
Systemwide comparable sales grew 98.7% versus last year and were nearly flat on a 2-year basis.
The revenue from company-operated restaurants rose 102.4% Y/Y, and franchised restaurants increased 107.6%.
The operating margin was 3%, and operating income for the quarter was $17.8 million.
The company held $161.8 million in cash and equivalents as of June 30, 2021.
Adjusted EBITDA was $47.16 million with a margin of 8.0%.
EPS of $0.02 beat the analyst consensus of $0.01.
"With the continued normalization of operating conditions, we now have enough visibility to resume planning for the long-term and are developing a new plan that will go well beyond just the next year," said CEO Marcelo Rabach.
Price Action: ARCO shares traded lower by 4.09% at $5.63 on the last check Wednesday.