Benzinga | Aug 11, 2021 03:40PM EDT

Arcos Dorados Q2 Earnings Top Estimates

* Arcos Dorados Holdings Inc (NYSE:ARCO) reported second-quarter FY21 revenue growth of 102% year-on-year, to $592.7 million, beating the analyst consensus of $542.45 million.

* Systemwide comparable sales grew 98.7% versus last year and were nearly flat on a 2-year basis.

* The revenue from company-operated restaurants rose 102.4% Y/Y, and franchised restaurants increased 107.6%.

* The operating margin was 3%, and operating income for the quarter was $17.8 million.

* The company held $161.8 million in cash and equivalents as of June 30, 2021.

* Adjusted EBITDA was $47.16 million with a margin of 8.0%.

* EPS of $0.02 beat the analyst consensus of $0.01.

* "With the continued normalization of operating conditions, we now have enough visibility to resume planning for the long-term and are developing a new plan that will go well beyond just the next year," said CEO Marcelo Rabach.

* Price Action: ARCO shares traded lower by 4.09% at $5.63 on the last check Wednesday.