Arcos Dorados Reports First Quarter 2019 Financial Results
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Arcos Dorados (ARCO) Misses Q1 EPS by 2c, Revenues Miss
May 15, 2019 8:03 AM EDTArcos 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 $731 million versus the consensus estimate of $741.87 million.
As reported, consolidated revenues decreased 9.3% to $727.9 million versus the first quarter of 2018, primarily due to depreciations of the Argentine and Brazilian currencies. On a constant currency basis2, consolidated revenues grew 12.0%, above blended inflationSystemwide comparable sales2 rose 10.0% year-over-yearAs reported, Adjusted EBITDA2 decreased 9.1% to $61.8 million compared with the prior-year quarter; on a constant currency basis, Adjusted EBITDA grew 6.5%Consolidated Adjusted EBITDA margin remained... More