Arcos Dorados Reports Third Quarter 2020 Financial Results
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Arcos Dorados (ARCO) Tops Q3 EPS by 3c, Revenues Beat
November 11, 2020 7:31 AM ESTArcos Dorados (NYSE: ARCO) reported Q3 EPS of ($0.14), $0.03 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $466.8 million versus the consensus estimate of $432 million.
Third Quarter 2020 Highlights Excluding Venezuela
Consolidated revenues were 37.7% lower in US dollars and 24.5% on a constant currency basis1, versus the prior year.Systemwide comparable sales1 declined 27.2% versus the prior year, which included strong sequential monthly improvement throughout the quarter.All four Divisions contributed to a positive Consolidated Adjusted EBITDA1 margin of 5.5%, compared to (14.3)% in 2Q20 and 10.2% in... More