Arcos Dorados Holdings Inc. operates as a franchisee of McDonald’s restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald’s restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S. Virgin Islands of St. Croix and St. Thomas, and Venezuela. As of December 31, 2013, the company operated or franchised 2,062 McDonald’s branded restaurants. The company was founded in 2007 and is headquartered in Buenos Aires, Argentina.
Roque Saenz Peña 432
Buenos Aires, 1636
Founded in 2007
Arcos Dorados Holdings, Inc. Announces Executive Changes
Dec 2 14
Arcos Dorados Holdings Inc. announced that José Carlos Alcantara will be joining the company to assume the role of Chief Financial Officer. The appointment will be effective January 12, 2015. Mr. Alcantara will replace Germán Lemonnier, who has made a personal decision to leave the company but will remain for a transition period through the end of the first quarter of 2015. Mr. Alcantara brings substantial experience as a financial executive in both Latin America and the consumer products industry to Arcos Dorados. Most recently, he served as Managing Director Spanish Latin America at Experian, where he was previously CFO Latin America.
Arcos Dorados Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 4 14
Arcos Dorados Holdings, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $904,020,000 against $1,021,212,000 a year ago. Operating income was $34,678,000 against $62,273,000 a year ago. Income before income taxes was $8,077,000 against $34,466,000 a year ago. Net income attributable to the company was $240,000 or $0.00 per basic share against $19,581,000 or $0.09 per basic share a year ago. The decline in net income is mainly explained by lower operating results and higher foreign exchange losses, which were partially offset by lower net interest and income tax expenses. Adjusted EBITDA was $66,058,000 against $90,375,000 a year ago. Net financial debt as at September 30, 2014 was $791,676,000. Net cash provided by operating activities was $30.7 million. Capital expenditures totaled $48.0 million.
For the nine months, the company reported total revenues of $2,737,436,000 against $2,987,307,000 a year ago. Operating income was $17,173,000 against $137,839,000 a year ago. Loss before income taxes was $101,574,000 against income before income taxes of $43,113,000 a year ago. Net loss attributable to the company was $119,376,000 or $0.57 per basic share against net income attributable to the company of $21,764,000 or $0.10 per basic share a year ago. Adjusted EBITDA was $158,338,000 against $226,472,000 a year ago. Net cash provided by operating activities was $14,797,000 against $83,489,000 a year ago. Property and equipment expenditures were $109,032,000 against $149,155,000 a year ago.