Arcos Dorados Holdings Inc. (NYSE:ARCO) shares are trading lower on Wednesday.
The company reported earnings per share of 17 cents, beating the street view of 16 cents. Quarterly revenues of $1.133 billion outpaced the analyst consensus estimate of $1.120 billion.
Arcos Dorados reported strong third-quarter results, with systemwide comparable sales growing 32.1%, fueled by both higher average check amounts and increased guest volume. Digital channel sales, including those from the Mobile App, Delivery, and Self-order Kiosks, rose 16% compared to the prior year and now account for 58% of total systemwide sales.
The company’s Loyalty Program, now active in three markets, saw significant growth, reaching 12.9 million registered members. Consolidated adjusted EBITDA for the quarter was $125.0 million, reflecting an 11.0% margin.
Also Read: What’s Going On With Plug Power Stock Today?
Arcos Dorados’ net debt to adjusted EBITDA leverage ratio remained steady at 1.2x at the end of the third quarter, unchanged from the previous quarter.
The company opened 19 new Experience of the Future (EOTF) restaurants during the quarter, with 11 of them located in Brazil.
The restaurant development plan remains on track and the company expects to meet its full year guidance of 80 to 90 restaurant openings in 2024.
The company exited the quarter with cash and equivalents worth $120.807 million.
Price Action: ARCO shares are trading lower by 0.48% to $8.36 at last check Wednesday.
Read Next:
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。