Arcos Dorados Reports Strong Second Quarter Results

Total Revenues Up 68% to $11 Billion

Net Income Reaches $156 Million

Buenos Aires, Argentina - Arcos Dorados Holdings Inc. (NYSE: ARCO), the world's largest McDonald's franchisee, reported strong financial results for the second quarter of 2024.

Total revenues for the quarter reached $11 billion, a 68% increase compared to the same period last year. The company attributed the growth to increased sales in all of its markets, particularly in Brazil, Argentina, and Mexico.

Consolidated Adjusted EBITDA in US dollars reached a second-quarter record of $924 million, up 20% from the same period in 2023. Net income attributable to the company totaled $156 million, compared to a net loss of $895 million in the second quarter of 2020.

Arcos Dorados' non-operating results for the second quarter included a net interest expense of $141 million and a foreign currency translation loss of $149 million.

CEO Marcelo Rabach said, "We are pleased with our strong second-quarter results, which reflect the continued recovery of our business after the pandemic. We are seeing positive momentum in all of our markets, and we are confident that we will continue to deliver strong results in the future."