Misses Q1 EPS by 2c, Beats on Revenues Arcos Dorados (ARCO) Misses Q1 EPS by 2c, Beats on Revenues
Love the scope of this company and can't fault new management who is executing well. The hitch to this stock is maybe future instability or economic concerns of certain countries. However this is not written in stone and management is well aware.
Arcos Dorados (ARCO) Misses Q1 EPS by 2c, Beats on Revenues
May 9, 2018 8:02 AM EDT
Arcos Dorados (NYSE: ARCO) reported Q1 EPS of $0.06, $0.02 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $802.8 million versus the consensus estimate of $795 million.
First Quarter 2018 Key Results – Excluding Venezuela
As reported consolidated revenues increased 5.5% to $802.8 million versus the first quarter of 2017. On a constant currency basis1, consolidated revenues grew 10.7%.
Systemwide comparable sales1 rose 9.8% year-over-year.
As reported Adjusted EBITDA1 increased 12.5% to $68.0 million compared with the prior-year quarter.
Consolidated Adjusted EBITDA margin expanded 60 basis points to 8.5%.
As reported General and Administrative (G&A) expenses remained flat as a percentage of revenues.
As reported net income decreased to $13.6 million, from $41.0 million in the first quarter of 2017, primarily due to re-development proceeds of $51.9 million in the year ago period.
Seeking Alpha transcript...
We have also made significant progress with McDelivery. We are now operating McDelivery in eight markets across our region, both via the global agreement with Uber Eats and local agreements with other leading delivery partners.
During the first quarter, we continue to add restaurants to the delivery footprint. While still in the pilot phase in some markets, we are capturing incremental guest counts in the restaurants that offer this service.
On the mobile phones, our app has been downloaded more than 13 million times in our geography. And in each of the 10 countries where it has been launched, our app is among the top three most downloaded in the food category. Every category of our menu from the affordability platforms to our core products, to our signature line saw growth in the first quarter. Additionally, we continue to drive volume to our Dessert Centers.
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