Arcos Dorados Q2 Earnings Surge

(RTTNews) - Arcos Dorados Holdings, Inc. (ARCO), a restaurant chain, on Thursday reported higher earnings for the second quarter, on higher revenues. Quarterly net earnings increased to $28.37 million or $0.13 per share from $14.48 million or $0.07 of last year.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude one-time items.

Excluding items, EBITDA was $110.1 million.

The Adjusted EBITDA margin reached 10.6% in the second quarter.

Revenue rose 17.2 percent to $1.04 billion from $887 million for the prior-year quarter. It increased by 36.2 percent on a constant currency basis.

The Street estimate for revenue is $1.05 billion.

In pre-market activity, shares of Arcos Dorados are trading at $10.55 down 0.47% on the New York Stock Exchange.