Why Arcos Dorados Stock Looks Golden Today
Shares of Arcos Dorados (NYSE: ARCO), which, as the name implies, is both the world's largest independent McDonald's franchisee and the largest restaurant chain in Latin America, is living up to its name of Golden Arches today with a strong 7% gain through 1:30 p.m. ET.
Arcos Dorados crushed analyst expectations for $0.13 per share in profit on $953.4 million in quarterly sales this morning, reporting $0.18 per share and $990.8 million instead.
Same-store sales for franchises open more than a year surged 37.6% year over year in Q1 2023. Total sales (including 48 newer locations) grew 25.3%. Sales grew fastest in the company's South Latin American Division -- up 30%. North Latin American sales increased 27.2%, followed by Brazil with a 19.9% gain.
Source Fool.com
