Arcos Dorados, the company holding the master franchise for McDonald’s in Latin America and the Caribbean, has reported an attributable net income of $59.7 million for the third quarter of 2023.
This marks a 27.2% increase from the $46.9 million reported a year ago.
In the quarter ending on September 30, 2023, total revenues reached $1.12 billion, reflecting a notable increase of 22.1% compared to the $921.7 million recorded last year.
The company’s operating income rose to $91.07 million, up from $73.91 million in the corresponding quarter of the previous year.
Benefiting from robust sales across all divisions, systemwide comparable sales experienced a substantial 37.3% year-over-year increase.
In the assessed period, Arcos Dorados’ digital channel sales reached $731.5 million, accounting for 50% of the total systemwide sales.
The consolidated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter amounted to $129.1 million, reflecting a 25.8% increase in US dollars and a 43.9% increase in constant currency.
In the most recent quarter, the company inaugurated 27 restaurants, with 25 of them being 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.”
