Arcos Dorados Holdings Inc. (NYSE:ARCO) reported fourth-quarter sales of $1.267 billion, beating the Street view of $1.241 billion. The EPS of 12 cents missed the consensus of 20 cents.
Quarterly results reflected a $33.8 million net tax benefit in Brazil, which the company expects to convert to cash over the next five years.
Notably, Arcos Dorados is the world’s largest independent McDonald’s Corporation (NYSE:MCD) franchisee, operating the largest quick service restaurant chain in Latin America and the Caribbean.
Quarterly Metrics
Systemwide comparable sales climbed 16.0% year over year (Y/Y), fueling higher total company revenue growth of 10.7% …