Arcos Dorados, which owns the master franchise of McDonald’s in Latin America and the Caribbean, has reported an attributable net income of $59.7m for the third quarter of 2023.
This is a surge of 27.2% from $46.9m a year ago.
For the quarter which ended 30 September 2023, total revenues were $1.12bn, an increase jump of 22.1% over $921.7m last year.
The company’s operating income increased to $91.07m from $73.91m in the year-ago quarter.
Supported by strong sales volume across all divisions, systemwide comparable sales rose 37.3% year-over-year.
Arcos Dorados’ digital channel sales were $731.5m in the period under review, representing 50% of systemwide sales.
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Its consolidated adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the third quarter was $129.1m, an increase of 25.8% in US dollars and 43.9% in constant currency.
The company opened 27 restaurants in the latest quarter, including 25 free-standing locations.
Arcos Dorados CEO Marcelo Rabach said: “The broad-based momentum we captured in the first half of 2023 continued in the third quarter.
“McDonald’s Brand strength, structural competitive advantages and consistent execution continued driving sales growth and market share gains across the Arcos Dorados footprint, with the strongest performance in markets such as Brazil, Chile, Costa Rica and Mexico.
“Our strategy is clear: drive sustainable sales growth, supported by both guest volume and average check growth, to generate operating leverage and long-term profitability growth. To achieve this objective, we are leaning on Value, which has always been a cornerstone of the McDonald’s business.”