Arcos Dorados Reports Supplemental Historical Information
Tweet
Share
E-mailGet Alerts ARCO Hot Sheet
Join SI Premium – FREE
MONTEVIDEO, Uruguay--(BUSINESS WIRE)-- Arcos Dorados Holdings, Inc. (NYSE: ARCO) (“Arcos Dorados” or the “Company”), Latin America’s largest restaurant chain and the world’s largest independent McDonald’s franchisee, is providing restated quarterly financial information for the years 2019, 2020 and 2021, reflecting the Company’s recently-announced divisional reorganization, in order to facilitate the historical analysis of its performance:
Divisional Reorganization
Effective October 1, 2021, the Company made certain changes in its internal management structure, in order to gain operational agility, leading the Company to reorganize its operation into three geographic divisions, as follows:
- Brazil division;
- North Latin American division, or “NOLAD,” which is now comprised of Mexico, Puerto Rico, Costa Rica, Panama, Martinique, Guadeloupe, French Guiana, St. Croix and St. Thomas; and
- South Latin American division, or “SLAD,” which is now comprised of Argentina, Chile, Colombia, Ecuador, Peru, Uruguay, Venezuela, Aruba, Curaçao and Trinidad & Tobago.
Follow us on:
2021 Key Metrics by Division |
|||||||||||||||
(In thousands of U.S. dollars, except percentages) |
|||||||||||||||
1Q21 |
|
2Q21 |
|
3Q21 |
|
4Q21 |
|
2021 |
|||||||
| Systemwide comparable sales growth | |||||||||||||||
| Brazil | -10.0 |
% |
65.6 |
% |
36.2 |
% |
18.3 |
% |
20.4 |
% |
|||||
| NOLAD | 6.7 |
% |
84.5 |
% |
38.7 |
% |
23.6 |
% |
33.2 |
% |
|||||
| SLAD | 51.8 |
% |
292.1 |
% |
161.8 |
% |
91.1 |
% |
117.1 |
% |
|||||
| SLAD - Excl. Venezuela | 24.9 |
% |
229.4 |
% |
121.2 |
% |
75.1 |
% |
86.8 |
% |
|||||
| TOTAL - Excl. Venezuela | 2.1 |
% |
98.7 |
% |
56.6 |
% |
33.6 |
% |
38.8 |
% |
|||||
| Total Revenues | |||||||||||||||
| Brazil | 203,251 |
|
225,740 |
|
275,229 |
|
298,561 |
|
1,002,781 |
|
|||||
| NOLAD | 173,754 |
|
193,271 |
|
204,670 |
|
209,171 |
|
780,866 |
|
|||||
| SLAD | 184,111 |
|
173,685 |
|
245,938 |
|
272,560 |
|
876,294 |
|
|||||
| SLAD - Excl. Venezuela | 182,831 |
|
172,266 |
|
243,462 |
|
269,398 |
|
867,957 |
|
|||||
| TOTAL | 561,116 |
|
592,696 |
|
725,837 |
|
780,292 |
|
2,659,941 |
|
|||||
| TOTAL - Excl. Venezuela | 559,836 |
|
591,277 |
|
723,361 |
|
777,130 |
|
2,651,604 |
|
|||||
| Operating Income (loss) | |||||||||||||||
| Brazil | 180 |
|
19,995 |
|
36,925 |
|
60,787 |
|
117,887 |
|
|||||
| NOLAD | 5,141 |
|
8,916 |
|
12,487 |
|
22,241 |
|
48,785 |
|
|||||
| SLAD | 1,852 |
|
5,631 |
|
18,718 |
|
22,413 |
|
48,614 |
|
|||||
| SLAD - Excl. Venezuela | 3,727 |
|
6,129 |
|
19,093 |
|
23,905 |
|
52,853 |
|
|||||
| Corporate and Other | (13,981 |
) |
(16,724 |
) |
(17,389 |
) |
(27,673 |
) |
(75,767 |
) |
|||||
| TOTAL | (6,808 |
) |
17,818 |
|
50,741 |
|
77,768 |
|
139,519 |
|
|||||
| TOTAL - Excl. Venezuela | (4,933 |
) |
18,316 |
|
51,116 |
|
79,260 |
|
143,758 |
|
|||||
| Adjusted EBITDA (1) | |||||||||||||||
| Brazil | 13,540 |
|
33,819 |
|
52,188 |
|
76,056 |
|
175,603 |
|
|||||
| NOLAD | 13,836 |
|
19,039 |
|
22,273 |
|
30,175 |
|
85,323 |
|
|||||
| SLAD | 9,604 |
|
11,083 |
|
26,409 |
|
30,477 |
|
77,573 |
|
|||||
| SLAD - Excl. Venezuela | 10,418 |
|
12,231 |
|
26,691 |
|
31,516 |
|
80,856 |
|
|||||
| Corporate and Other | (13,050 |
) |
(16,785 |
) |
(11,583 |
) |
(25,323 |
) |
(66,741 |
) |
|||||
| TOTAL | 23,930 |
|
47,156 |
|
89,287 |
|
111,385 |
|
271,758 |
|
|||||
| TOTAL - Excl. Venezuela | 24,744 |
|
48,304 |
|
89,569 |
|
112,424 |
|
275,041 |
|
|||||
| Adjusted EBITDA Margin (2) | |||||||||||||||
| Brazil | 6.7 |
% |
15.0 |
% |
19.0 |
% |
25.5 |
% |
17.5 |
% |
|||||
| NOLAD | 8.0 |
% |
9.9 |
% |
10.9 |
% |
14.4 |
% |
10.9 |
% |
|||||
| SLAD | 5.2 |
% |
6.4 |
% |
10.7 |
% |
11.2 |
% |
8.9 |
% |
|||||
| SLAD - Excl. Venezuela | 5.7 |
% |
7.1 |
% |
11.0 |
% |
11.7 |
% |
9.3 |
% |
|||||
| TOTAL | 4.3 |
% |
8.0 |
% |
12.3 |
% |
14.3 |
% |
10.2 |
% |
|||||
| TOTAL - Excl. Venezuela | 4.4 |
% |
8.2 |
% |
12.4 |
% |
14.5 |
% |
10.4 |
% |
|||||
| Restaurant Footprint as of December 31, 2021 | ||||||
| Ownership | Total Restaurants |
|||||
| Company Operated |
Franchised | |||||
| Brazil | 631 |
420 |
1,051 |
|||
| NOLAD | 453 |
172 |
625 |
|||
| SLAD | 495 |
90 |
585 |
|||
| TOTAL | 1,579 |
682 |
2,261 |
|||
(1) |
Adjusted EBITDA is a measure of our performance that is reviewed by our management. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be comparable to Adjusted EBITDA as used by other companies. Total Adjusted EBITDA is a non-GAAP measure. For our definition of Adjusted EBITDA, see “Item 5. Operating and Financial Review and Prospects - A. Operating Results - Key Business Measures.” |
|
(2) |
Adjusted EBITDA Margin is Adjusted EBITDA divided by total revenues, expressed as a percentage. |
|
|||||||||||||||
2020 Key Metrics by Division |
|||||||||||||||
(In thousands of U.S. dollars, except percentages) |
|||||||||||||||
1Q20 |
|
2Q20 |
|
3Q20 |
|
4Q20 |
|
2020 |
|||||||
| Systemwide comparable sales growth | |||||||||||||||
| Brazil | -6.0 |
% |
-46.3 |
% |
-26.2 |
% |
-10.6 |
% |
-21.8 |
% |
|||||
| NOLAD | -6.7 |
% |
-43.7 |
% |
-21.2 |
% |
-7.8 |
% |
-19.8 |
% |
|||||
| SLAD | 31.0 |
% |
-60.1 |
% |
-22.1 |
% |
28.8 |
% |
-6.0 |
% |
|||||
| SLAD - Excl. Venezuela | 0.6 |
% |
-67.0 |
% |
-34.6 |
% |
-1.0 |
% |
-25.8 |
% |
|||||
| TOTAL - Excl. Venezuela | -4.5 |
% |
-51.0 |
% |
-27.2 |
% |
-7.9 |
% |
-22.3 |
% |
|||||
| Total Revenues | |||||||||||||||
| Brazil | 284,382 |
|
132,234 |
|
192,402 |
|
253,730 |
|
862,748 |
|
|||||
| NOLAD | 155,531 |
|
102,226 |
|
149,279 |
|
177,610 |
|
584,646 |
|
|||||
| SLAD | 177,591 |
|
58,064 |
|
125,118 |
|
176,052 |
|
536,825 |
|
|||||
| SLAD - Excl. Venezuela | 175,994 |
|
57,739 |
|
124,225 |
|
174,373 |
|
532,330 |
|
|||||
| TOTAL | 617,504 |
|
292,524 |
|
466,799 |
|
607,392 |
|
1,984,219 |
|
|||||
| TOTAL - Excl. Venezuela | 615,907 |
|
292,199 |
|
465,906 |
|
605,713 |
|
1,979,725 |
|
|||||
| Operating Income (loss) | |||||||||||||||
| Brazil | 11,088 |
|
(21,135 |
) |
7,676 |
|
18,492 |
|
16,121 |
|
|||||
| NOLAD | 2,653 |
|
(9,510 |
) |
972 |
|
5,915 |
|
30 |
|
|||||
| SLAD | (7,382 |
) |
(34,784 |
) |
(777 |
) |
14,101 |
|
(28,842 |
) |
|||||
| SLAD - Excl. Venezuela | (5,539 |
) |
(32,388 |
) |
774 |
|
16,023 |
|
(21,130 |
) |
|||||
| Corporate and Other | (13,494 |
) |
(11,849 |
) |
(11,932 |
) |
(16,788 |
) |
(54,063 |
) |
|||||
| TOTAL | (7,135 |
) |
(77,278 |
) |
(4,061 |
) |
21,720 |
|
(66,754 |
) |
|||||
| TOTAL - Excl. Venezuela | (5,292 |
) |
(74,882 |
) |
(2,510 |
) |
23,642 |
|
(59,042 |
) |
|||||
| Adjusted EBITDA (1) | |||||||||||||||
| Brazil | 29,171 |
|
(7,099 |
) |
21,507 |
|
32,576 |
|
76,155 |
|
|||||
| NOLAD | 13,415 |
|
(2,214 |
) |
10,874 |
|
19,421 |
|
41,496 |
|
|||||
| SLAD | (1,822 |
) |
(22,687 |
) |
3,572 |
|
21,767 |
|
830 |
|
|||||
| SLAD - Excl. Venezuela | (332 |
) |
(21,460 |
) |
4,355 |
|
22,682 |
|
5,245 |
|
|||||
| Corporate and Other | (12,241 |
) |
(10,907 |
) |
(10,919 |
) |
(16,303 |
) |
(50,370 |
) |
|||||
| TOTAL | 28,523 |
|
(42,907 |
) |
25,034 |
|
57,461 |
|
68,111 |
|
|||||
| TOTAL - Excl. Venezuela | 30,013 |
|
(41,680 |
) |
25,817 |
|
58,376 |
|
72,526 |
|
|||||
| Adjusted EBITDA Margin (2) | |||||||||||||||
| Brazil | 10.3 |
% |
-5.4 |
% |
11.2 |
% |
12.8 |
% |
8.8 |
% |
|||||
| NOLAD | 8.6 |
% |
-2.2 |
% |
7.3 |
% |
10.9 |
% |
7.1 |
% |
|||||
| SLAD | -1.0 |
% |
-39.1 |
% |
2.9 |
% |
12.4 |
% |
0.2 |
% |
|||||
| SLAD - Excl. Venezuela | -0.2 |
% |
-37.2 |
% |
3.5 |
% |
13.0 |
% |
1.0 |
% |
|||||
| TOTAL | 4.6 |
% |
-14.7 |
% |
5.4 |
% |
9.5 |
% |
3.4 |
% |
|||||
| TOTAL - Excl. Venezuela | 4.9 |
% |
-14.3 |
% |
5.5 |
% |
9.6 |
% |
3.7 |
% |
|||||
| Restaurant Footprint as of December 31, 2020 | |||||||
| Ownership | Total Restaurants |
||||||
| Company Operated |
Franchised | ||||||
| Brazil | 610 |
410 |
1,020 |
||||
| NOLAD | 475 |
154 |
629 |
||||
| SLAD | 491 |
96 |
587 |
||||
| TOTAL | 1,576 |
660 |
2,236 |
||||
(1) |
Adjusted EBITDA is a measure of our performance that is reviewed by our management. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be comparable to Adjusted EBITDA as used by other companies. Total Adjusted EBITDA is a non-GAAP measure. For our definition of Adjusted EBITDA, see “Item 5. Operating and Financial Review and Prospects - A. Operating Results - Key Business Measures”. |
|
(2) |
Adjusted EBITDA Margin is Adjusted EBITDA divided by total revenues, expressed as a percentage. |
2019 Key Metrics by Division |
|||||||||||||||
(In thousands of U.S. dollars, except percentages) |
|||||||||||||||
1Q19 |
|
2Q19 |
|
3Q19 |
|
4Q19 |
|
2019 |
|
||||||
| Systemwide comparable sales growth | |||||||||||||||
| Brazil | 6.8 |
% |
12.1 |
% |
10.8 |
% |
9.5 |
% |
9.7 |
% |
|||||
| NOLAD | 1.7 |
% |
5.1 |
% |
2.8 |
% |
4.9 |
% |
3.7 |
% |
|||||
| SLAD | 31537.2 |
% |
7543.8 |
% |
485.1 |
% |
374.6 |
% |
11963.2 |
% |
|||||
| SLAD - Excl. Venezuela | 20.8 |
% |
24.3 |
% |
23.8 |
% |
16.9 |
% |
21.5 |
% |
|||||
| TOTAL - Excl. Venezuela | 10.0 |
% |
14.2 |
% |
12.7 |
% |
10.4 |
% |
11.8 |
% |
|||||
| Total Revenues | |||||||||||||||
| Brazil | 340,764 |
|
329,298 |
|
346,201 |
|
369,302 |
|
1,385,566 |
|
|||||
| NOLAD | 157,939 |
|
169,158 |
|
172,048 |
|
177,237 |
|
676,382 |
|
|||||
| SLAD | 232,296 |
|
225,288 |
|
231,719 |
|
207,827 |
|
897,129 |
|
|||||
| SLAD - Excl. Venezuela | 229,240 |
|
222,569 |
|
229,349 |
|
205,788 |
|
886,947 |
|
|||||
| TOTAL | 730,999 |
|
723,744 |
|
749,968 |
|
754,366 |
|
2,959,077 |
|
|||||
| TOTAL - Excl. Venezuela | 727,943 |
|
721,025 |
|
747,598 |
|
752,327 |
|
2,948,895 |
|
|||||
| Operating Income (loss) | |||||||||||||||
| Brazil | 32,093 |
|
28,486 |
|
41,633 |
|
62,131 |
|
164,342 |
|
|||||
| NOLAD | 2,542 |
|
5,130 |
|
7,275 |
|
15,008 |
|
29,955 |
|
|||||
| SLAD | 9,434 |
|
7,556 |
|
8,882 |
|
2,024 |
|
27,894 |
|
|||||
| SLAD - Excl. Venezuela | 11,094 |
|
8,680 |
|
10,464 |
|
5,897 |
|
36,137 |
|
|||||
| Corporate and Other | (12,745 |
) |
(15,428 |
) |
(15,543 |
) |
(18,538 |
) |
(62,255 |
) |
|||||
| TOTAL | 31,324 |
|
25,744 |
|
42,247 |
|
60,625 |
|
159,937 |
|
|||||
| TOTAL - Excl. Venezuela | 32,984 |
|
26,868 |
|
43,829 |
|
64,498 |
|
168,180 |
|
|||||
| Adjusted EBITDA (1) | |||||||||||||||
| Brazil | 46,904 |
|
44,198 |
|
57,481 |
|
79,262 |
|
227,844 |
|
|||||
| NOLAD | 10,546 |
|
12,825 |
|
14,912 |
|
25,775 |
|
64,059 |
|
|||||
| SLAD | 16,207 |
|
14,578 |
|
18,477 |
|
13,781 |
|
63,043 |
|
|||||
| SLAD - Excl. Venezuela | 17,343 |
|
15,364 |
|
19,639 |
|
15,154 |
|
67,500 |
|
|||||
| Corporate and Other | (13,038 |
) |
(15,785 |
) |
(15,905 |
) |
(18,442 |
) |
(63,171 |
) |
|||||
| TOTAL | 60,619 |
|
55,816 |
|
74,965 |
|
100,376 |
|
291,775 |
|
|||||
| TOTAL - Excl. Venezuela | 61,755 |
|
56,602 |
|
76,127 |
|
101,749 |
|
296,232 |
|
|||||
| Adjusted EBITDA Margin (2) | |||||||||||||||
| Brazil | 13.8 |
% |
13.4 |
% |
16.6 |
% |
21.5 |
% |
16.4 |
% |
|||||
| NOLAD | 6.7 |
% |
7.6 |
% |
8.7 |
% |
14.5 |
% |
9.5 |
% |
|||||
| SLAD | 7.0 |
% |
6.5 |
% |
8.0 |
% |
6.6 |
% |
7.0 |
% |
|||||
| SLAD - Excl. Venezuela | 7.6 |
% |
6.9 |
% |
8.6 |
% |
7.4 |
% |
7.6 |
% |
|||||
| TOTAL | 8.3 |
% |
7.7 |
% |
10.0 |
% |
13.3 |
% |
9.9 |
% |
|||||
| TOTAL - Excl. Venezuela | 8.5 |
% |
7.9 |
% |
10.2 |
% |
13.5 |
% |
10.0 |
% |
|||||
| Restaurant Footprint as of December 31, 2019 | ||||||
| Ownership | Total Restaurants |
|||||
| Company Operated |
Franchised | |||||
| Brazil | 612 |
411 |
1,023 |
|||
| NOLAD | 456 |
199 |
655 |
|||
| SLAD | 512 |
103 |
615 |
|||
| TOTAL | 1,580 |
713 |
2,293 |
|||
(1) |
Adjusted EBITDA is a measure of our performance that is reviewed by our management. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be comparable to Adjusted EBITDA as used by other companies. Total Adjusted EBITDA is a non-GAAP measure. For our definition of Adjusted EBITDA, see “Item 5. Operating and Financial Review and Prospects - A. Operating Results - Key Business Measures”. |
|
(2) |
Adjusted EBITDA Margin is Adjusted EBITDA divided by total revenues, expressed as a percentage. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20220316005260/en/
Investor Relations Contact
Dan Schleiniger
VP of Investor Relations
Arcos Dorados
[email protected]
Media Contact
David Grinberg
VP of Corporate Communications
Arcos Dorados
[email protected]
Source: Arcos Dorados Holdings, Inc.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- EPIC Insurance Brokers and Consultants Announces Strategic Leadership Promotions
- QTREX's Patent-Pending Technology Achieves First Direct Conversion of 3D-Printed Insulation into Graphene-Like Carbon to Protect Quantum Processors
- 72 Days Lost in the Mountains: Golden Retriever Milo Bear Wins 2026 Hambone Award
Create E-mail Alert Related Categories
Business Wire, Press ReleasesRelated Entities
TwitterSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
