Welcome to our dedicated page for Arcos Dorados Holdings news (Ticker: ARCO), a resource for investors and traders seeking the latest updates and insights on Arcos Dorados Holdings stock.
Arcos Dorados Holdings Inc. reports developments tied to its McDonald's-branded restaurant operations in Latin America and the Caribbean. The company is an independent McDonald's franchisee with the exclusive right to own, operate and sub-franchise restaurants across 21 countries and territories, and it manages activity through Brazil, the North Latin American Division and the South Latin American Division.
Company news centers on operating and financial results, systemwide comparable sales, currency and macroeconomic conditions in key markets, annual report filings, shareholder meeting matters and investor communications. Updates also cover capital-structure actions, including debt and sustainability-linked note disclosures, along with community and environmental initiatives associated with the company's Recipe for the Future framework.
Arcos Dorados Holdings, the largest restaurant chain in Latin America, reported Q3 2020 results reflecting a significant downturn in revenues. Consolidated revenues dropped 37.7% year-over-year, owing to a 27.2% decline in systemwide comparable sales. The company recorded a net loss of $(29.6) million, or $(0.14) per share, compared to a profit of $24.4 million in Q3 2019. Despite these challenges, positive Adjusted EBITDA of $25.8 million was achieved across all divisions, indicating a recovery phase. Approximately 99% of restaurants were operational, with a notable improvement in sales trends, especially in Brazil.
Arcos Dorados Holdings, Inc. (NYSE: ARCO), the largest restaurant chain in Latin America and the top independent McDonald’s franchisee globally, has scheduled its Annual Shareholders’ Meeting for November 20, 2020, at 10:00 a.m. in Buenos Aires, Argentina. All shareholders recorded by November 9, 2020, are eligible to attend. The company operates over 2,200 restaurants across 20 countries, employing over 100,000 people as of mid-2020. Arcos Dorados is committed to community development and positive environmental impact.
Arcos Dorados (NYSE: ARCO) will hold a conference call on November 11, 2020, to discuss its third-quarter results for the period ending September 30, 2020. CEO Marcelo Rabach and senior management will lead the call, which will feature opening remarks followed by a Q&A session. Interested participants can pre-register for immediate access and bypass the live operator. The call can also be accessed online, with an archived version available two hours after the event through February 11, 2021.
Arcos Dorados Holdings Inc. (NYSE: ARCO) announced the results of its Exchange Offer for outstanding 6.625% Senior Notes due 2023, which ended on October 13, 2020. A total of US$131,476,000 of Old Notes were tendered, representing 37.77% of the outstanding amount. Those who tendered before the Early Participation Date will receive US$1,055.00 in New Notes per US$1,000.00 of Old Notes. The company expects to issue US$138,354,000 of New Notes in exchange for the validly tendered Old Notes. This exchange is available only to eligible holders.
Arcos Dorados Holdings Inc. (NYSE: ARCO) announced the results of its Exchange Offer for 6.625% Senior Notes due 2023, indicating that US$126,601,000 of Old Notes were validly tendered, representing 36.37% of the total. Holders of these notes can exchange them for New Notes at a rate of US$1,055.00 per US$1,000 of Old Notes. The final amount of New Notes expected to be issued is US$133,564,055. The Exchange Offer is restricted to qualified institutional buyers and non-US persons who complete an eligibility letter.