The following is a summary of the Arcos Dorados Holdings Inc. (ARCO) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Arcos Dorados reported a record Q4 revenue of $1.2 billion and an all-time high annual revenue of $4.3 billion in 2023.

• The company saw an increase in guest counts leading to a 19.7% increase in 2023 dollar revenue.

• Adjusted EBITDA for Q4 2023 reached nearly $133 million, marking a record. Full-year 2023 EBITDA also hit a record of above $272 million.

• Net income for Q4 was nearly $56 million, or $0.26 per share, and overall year net income was over $181 million, or $0.86 per share.

• System-wide comparable sales saw a 32.4% growth in the fourth quarter.

Business Progress:

• The company's 3D's (Digital, Delivery, and Drive-thru) strategy led to sustainable sales growth.

• More than 60% of restaurants have been modernized to the Experience of the Future format.

• The company plans to continue transitioning to 100% fresh cage-free eggs by 2025.

• The sustainable construction program was expanded to new cities in Latin America, and 30% of energy sourced came from renewable sources.

• Digital sales in Brazil made up 63% of total sales.

• A new loyalty program in Brazil and Uruguay boosted growth.

• With the opening of 18 new restaurants in Q1 2024, there are plans to open 80 to 90 additional EOTF restaurants throughout the year.

• The company plans to continue significant investments in digital technology, which has driven sales above inflation.

More details: Arcos Dorados IR

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