McDonald's franchisee Arcos Dorados rises on Q3 profit beat

Arcos Dorados Holdings

16/11/2022 15:16

** Shares of McDonald's  MCD.N  franchisee Arcos Dorados
Holdings Inc  ARCO.N  jump 10.9% to $8.10 in early trade -
highest in more than three months 
    ** Posts Q3 adj. EPS of $0.23, beating est. of $0.10 -
Refintiv  urn:newsml:reuters.com:*:nL8N32C4YK
    ** ARCO says sales in Q3 rise on higher guest traffic and
market share gains in all divisions
    ** With higher sales per restaurant and above average
returns on investment from recent openings, the company expects
to open more McDonald's locations in the next 10 years than its
previous forecast - CEO Marcelo Rabach
    ** ARCO has its operations across South America and
Caribbean
    ** Including session gains, stock up 37.2% YTD
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))