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MarketScreener Homepage  >  Equities  >  Nyse  >  Arcos Dorados Holding Inc    ARCO   VGG0457F1071

ARCOS DORADOS HOLDING INC

(ARCO)
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Arcos Dorados : Struggles With Weaker Currencies In Brazil And Argetina

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05/15/2019 | 08:36am EDT

By Micah Maidenberg

Arcos Dorados Holdings Inc. (ARCO) said revenue weakened in the first quarter, as the franchisor and operator of McDonald's restaurants across Latin America and the Caribbean struggled with falling currencies in key markets.

The Montevideo, Uruguay-based company said revenue fell to $727.9 million in the quarter, down 9% from the year earlier. Arcos attributed the weakness to the depreciation of the Argentine peso and the Brazilian real.

Adjusting for currency movements, the company said revenue grew 12%.

Arcos reported net income of $12.2 million, or 6 cents a share, up from $518,000 a year earlier.

Lower costs helped earnings. Its biggest expense, food and paper, dropped 13%.

Arcos said that visits to its stores in Mexico grew in the first quarter, boosting sales in that country, and said it is remodeling stores in Chile, where the economy is stronger than in other countries in the southern part of Latin America.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ARCOS DORADOS HOLDING INC 2.11% 6.3 Delayed Quote.-20.25%
MCDONALD'S CORPORATION -0.60% 197.77 Delayed Quote.12.05%
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Financials ($)
Sales 2019 3 043 M
EBIT 2019 157 M
Net income 2019 -
Debt 2019 485 M
Yield 2019 1,89%
P/E ratio 2019 19,44
P/E ratio 2020 14,58
EV / Sales 2019 0,60x
EV / Sales 2020 0,55x
Capitalization 1 333 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 9,42 $
Spread / Average Target 49%
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Managers
NameTitle
Sergio Daniel Alonso Chief Executive Officer & Director
Woods White Staton Executive Chairman
Marcelo Rabach Chief Operating Officer
Mariano Tannenbaum Chief Financial Officer
Annette Franqui Director
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