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- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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