Arcos Dorados' Q4 Earnings Top Estimates

Arcos Dorados Holdings Inc ARCO reported fourth-quarter FY21 sales growth of 28.3% year-on-year, excluding Venezuela, of $777.13 million, beating the consensus of $750.54 million. Total revenues amounted to $780.29 million.
Excluding Venezuela, systemwide comparable sales grew 33.6% Y/Y and rose 24.2% on a 2-year basis.
The operating margin was 10%, and operating income for the quarter was $77.8 million.
Excluding Venezuela, Adjusted EBITDA for the quarter was $112.4 million with an adjusted EBITDA margin of 14.5%, up 100 basis points versus Q4 2019.
EPS of $0.22 beat the analyst consensus of $0.16.
The company held $278.8 million in cash and equivalents as of December 31, 2021.
The company's board declared a cash dividend of $0.15 per share for 2022, payable in four quarterly installments.
Price Action: ARCO shares are trading higher by 1.50% at $7.45 on the last check Wednesday.