- Arcos Dorados Holdings Inc ARCO reported a first-quarter FY23 sales growth of 40.6% year-on-year to $787.30 million, beating the consensus of $732.29 million.
- Systemwide comparable sales grew 42% Y/Y, driven primarily by higher guest volume across all divisions.
- The operating margin was 6.3%, and operating income for the quarter was $49.7 million.
- Adjusted EBITDA for the quarter was $79.6 million with an adjusted EBITDA margin of 10.1%, up 570 basis points versus last year.
- EPS of $0.12 beat the analyst consensus of $0.06.
- The company held $279.7 million in cash and equivalents as of March 31, 2022.
- Price Action: ARCO shares are trading higher by 6.22% at $7.95 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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