Arcos Dorados (ARCO) Reports Q1 EPS of $0.19

Arcos Dorados (NYSE: ARCO) reported Q1 EPS of $0.19, versus $0.08 reported last year. Revenue for the quarter came in at $781.5 million, versus $658.5 million reported last year.

• As reported consolidated revenues increased 18.7% to $781.5 million versus the first quarter of 2016. On a constant currency basis1, consolidated revenues grew 17.0%, or 9.2% excluding Venezuela.
• Systemwide comparable sales1 rose 19.4% year-over-year, or 9.6% excluding Venezuela.
• Adjusted EBITDA1 increased 30.0% to $62.7 million compared with the prior-year quarter.
• Consolidated Adjusted EBITDA margin expanded 70 basis points to 8.0%.
• As reported General and Administrative expenses (G&A) decreased 40 basis points as a percentage of revenues.
• As reported net income expanded to $40.6 million, from $16.1 million in the year-ago period.

“We achieved strong revenue growth and EBITDA margin expansion in the first quarter, alongside early progress on key initiatives from our strategic plan. Our strategy of leveraging McDonald’s core assets to expand volumes, reinvesting in our restaurants and enhancing operational excellence drove improved customer satisfaction together with topline growth. We solidified our capital structure with the completion of our tender offer and issuance of our 2027 Notes. This, along with the operational efficiencies we have built into our system, positions us to capitalize on improvements in our markets as we transition from a turnaround mindset to a growth strategy,” said Sergio Alonso, Chief Executive Officer of Arcos Dorados.

For earnings history and earnings-related data on Arcos Dorados (ARCO) click here.

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