Arcos Dorados Stock Gains As Q3 Earnings Top Estimates

Arcos Dorados Holdings Inc ARCO reported third-quarter FY21 sales growth of 55.5% year-on-year, to $725.84 million, beating the analyst consensus of $676.95 million.
Systemwide comparable sales grew 56.6% Y/Y and rose 16.5% on a 2-year basis.
The operating margin was 7%, and operating income for the quarter was $50.7 million.
Adjusted EBITDA for the quarter was $89.6 million with an adjusted EBITDA margin of 12.4%, up 220 basis points versus 3Q19.
EPS of $0.12 beat the analyst consensus of $0.06.
The company held $206.9 million in cash and equivalents as of September 30, 2021.
Price Action: ARCO shares are trading higher by 7.57% at $5.26 on the last check Wednesday.