Arcos Dorados, a company that owns the master franchise of McDonald’s in Latin America and the Caribbean, has reported an attributable net income of $28.3m for the second quarter of 2023, a surge of 96% compared with $14.4m a year ago.
For the quarter ended 30 June 2023, the company’s total revenues were $1.04bn versus $887.9m a year ago.
Operating income increased to $74.89m from $60.64m in the year-ago quarter.
The company’s systemwide comparable sales rose 31.5% year-over-year, with strong sales and market share performance across all divisions.
Arcos Dorados’ digital channel sales were $665.9m in the period under review, representing 49% of systemwide sales.
Its consolidated adjusted EBITDA for the second quarter was $110.1m, an increase of 20.5% in US dollars and 31.0% in constant currency.
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During the quarter, the company opened ten restaurants, which include eight free-standing units.
Arcos Dorados CEO Marcelo Rabach said: “For the last several years, Arcos Dorados has made the most of its unique position in the Latin American QSR industry.
“We are operating the industry’s favourite Brand and leveraging structural competitive advantages to capture the McDonald’s Brand’s full growth potential.
“Our “Three D’s” strategy of Digital, Delivery, and Drive-thru, provides the framework and tools for strong, sustainable sales growth. By offering guests an unmatched experience through a combination of value, quality, and service, we are generating consistent transaction volume growth on a comparable basis.”