Arcos Dorados Reports Mixed Q2 Results

Arcos Dorados Holdings Inc ARCO reported second-quarter FY22 consolidated sales of $887.9 million, up 49.8% year-on-year, beating the consensus of $812.90 million.
Sales, excluding Venezuela, totaled $883.90 million, up 49.5% year-on-year.
Systemwide comparable sales excluding Venezuela grew 47.9% versus last year.
Excluding Venezuela, operating margin was 7%, and operating income for the quarter was $61.9 million.
Excluding Venezuela, Adjusted EBITDA for the quarter was $92.4 million with an adjusted EBITDA margin of 10.5%, up 230 basis points Y/Y.
EPS of $0.07 missed the analyst consensus of $0.12.
The company held $289.4 million in cash and equivalents as of June 30, 2022. Net cash generated from operating activities for the six months ended June 30 totaled $121.9 million.
Price Action: ARCO shares are trading higher by 2.15% at $8.08 on the last check Wednesday.