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Yahoo
24-05-2025
- Business
- Yahoo
Was Jim Cramer Right About Starbucks Corporation (SBUX)?
We recently published a list of . In this article, we are going to take a look at where Starbucks Corporation (NASDAQ:SBUX) stands against other stocks that Jim Cramer discusses. Back in 2024, on May 15, a caller on the Mad Money show asked about Starbucks Corporation (NASDAQ:SBUX), citing busy drive-throughs and new promotional efforts. Cramer acknowledged past missteps but remained cautiously optimistic. 'Okay, I think Starbucks — the stock is too cheap. I think that they have to — uh, let's just say they've got to be realistic that a turn's going to take a while and that a plan includes having, say, a Starbucks 2 like Panera 2, where they really figure out how to handle throughput and they figure out whether the baristas can make all the drinks and how to handle the lines and mobile order pay without cutting in front. And they have to do those things — and when they do that, they'll get it right. So no, my trust owns it, but you see, my trust is down a huge amount — and when that happens, it's my fault, okay? It's my fault, because I believe. And when you believe and the stock goes down, it's on you, not on them.' Starbucks rebounded moderately after Cramer called it cheap, climbing 13.67% and rewarding those who held on. A close-up of a freshly roasted coffee bean, accompanied by a vintage aluminum scoop. Starbucks Corporation (NASDAQ:SBUX) has benefited from loyalty program expansions and international growth despite internal restructuring challenges. Following a recent dip in early April, Cramer advised his viewers to not sell the stock: 'Starbucks down eight. Should we not think about he's got it under force, under four minutes now?' Ahead of the company's earnings report, Cramer had this to say in late April: 'Tuesday night, okay, I'm betting that Brian Niccol will spell out his strategy for Starbucks, both domestic and international…. The stock first shooting up 30 points on Niccol's appointment and then giving almost all of it back when the numbers didn't turn around immediately and the market got ugly. I always thought that a quick breakout was a ridiculous assumption, but now the rubber's going to hit the road, and I still don't see a breakout quarter, but we're going to hold it nonetheless.' Overall, SBUX ranks 3rd on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of SBUX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SBUX and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Arcos Dorados Reports First Quarter 2025 Financial Results
Systemwide Comparable Sales1 grew 11.1% versus the prior year, contributing to total company revenues of $1.1 billion in the first quarter of 2025. Digital channel sales (from Mobile App, Delivery and Self-order Kiosks) rose 6.3% year-over-year in US dollars and contributed almost 60% of total systemwide sales in the quarter. The Loyalty Program had 18.8 million registered members at the end of the first quarter of 2025, across five available markets, and was recently introduced in a sixth market. Consolidated Adjusted EBITDA1 was $91.3 million and Net Income was $13.9 million, or $0.07 per share, in the first quarter of 2025. Net Debt to Adjusted EBITDA leverage ratio was 1.4x as of March 31, 2025. MONTEVIDEO, Uruguay, May 14, 2025--(BUSINESS WIRE)--Arcos Dorados Holdings Inc. (NYSE: ARCO) ("Arcos Dorados" or the "Company"), Latin America and the Caribbean's largest restaurant chain and the world's largest independent McDonald's franchisee, today reported unaudited results for the three months ended March 31, 2025. First Quarter 2025 Highlights Consolidated revenues totaled $1.1 billion, relatively flat versus the prior year in US dollars, despite strong currency depreciations in the Company's three largest markets. Systemwide comparable sales1 grew 11.1%, in-line with the Company's blended inflation. The Loyalty Program reached 18.8 million registered members at the end of the quarter, supporting increased frequency and higher average check in available markets. Consolidated Adjusted EBITDA was $91.3 million, with an 8.5% margin on total revenues. Net Income was $13.9 million, with a 1.3% margin on total revenues. The Company opened 12 Experience of the Future (EOTF) restaurants in the quarter, including 10 free-standing locations. 1 For definitions, please refer to page 15 of this document. Message from Marcelo Rabach, Chief Executive Officer The beginning of 2025 was in-line with our expectations when we said the first quarter should be the low point of the year. Importantly, operating performance improved sequentially in the first quarter, with the best results coming in March, and we continue to expect better performance as the year progresses. Our optimism is rooted in the belief that Arcos Dorados is uniquely positioned within Latin America's quick service restaurant (QSR) industry given the strength of our brand, the success of our strategy, the geographic diversification of our operating footprint and the numerous competitive advantages of our business model. These strengths should help Arcos Dorados navigate today's volatile and challenging market conditions better than any other restaurant operator in the region. For the first quarter, total revenue reached $1.1 billion, which was flat versus last year in US dollars. By focusing on the factors we control, we generated 11.1% systemwide comparable sales growth and drove total revenue 14.1% higher in constant currency. As a result, local currency growth was sufficient to offset (i) the strong depreciation of our three main currencies over the last twelve months, (ii) the comparison with Leap Day in last year's results and (iii) the comparison with Holy Week, which was in the first quarter of last year. Consolidated Adjusted EBITDA was $91.3 million in the quarter. Argentina and Chile rebounded strongly versus the prior year, driving SLAD's profitability higher in US dollars. Consolidated profitability declined versus last year due mainly to weaker local currencies and margin pressures in Brazil. Digital sales rose 6.3%, boosted by almost 19 million monthly average Mobile App users. Digital sales penetration was almost 60% of systemwide sales in the first quarter, with notable strength in Loyalty, Mobile Order and Pay, Own Delivery and Self-order Kiosks. The Loyalty Program continued to drive higher frequency and average check among its 18.8 million registered members and across the five markets where it was available during the quarter. Our strategy is about providing guests with an omnichannel experience, allowing them to choose when, where and how they enjoy their favorite McDonald's menu items. As a result, even as consumers pulled back on eating out of home during the quarter, off-premise channels remained resilient, generating about 43% of total systemwide sales in the quarter. No other QSR operator in the region offers guests as accessible, diverse and modernized restaurant base as Arcos Dorados. This is why our results have continued to outshine the competition, no matter the operating context, and why we remain confident in the Company's future growth and shareholder value generation. Consolidated Results Figure 1. AD Holdings Inc Consolidated: Key Financial Results(In millions of U.S. dollars, except as noted) 1Q24(a) Currency Translation(b) ConstantCurrencyGrowth(c) 1Q25(a+b+c) % AsReported %ConstantCurrency Total Restaurants (Units) 2,381 2,439 Sales by Company-operated Restaurants 1,031.4 (148.2) 144.3 1,027.5 -0.4% 14.0% Revenues from franchised restaurants 49.9 (8.8) 8.0 49.1 -1.7% 15.9% Total Revenues 1,081.4 (157.1) 152.3 1,076.6 -0.4% 14.1% Systemwide Comparable Sales 11.1% Adjusted EBITDA 108.9 (13.1) (4.6) 91.3 -16.2% -4.2% Adjusted EBITDA Margin 10.1% 8.5% -1.6 p.p. Net income (loss) attributable to AD 28.5 (2.6) (12.0) 13.9 -51.1% -42.0% Net income attributable to AD Margin 2.6% 1.3% -1.3 p.p. No. of shares outstanding (thousands) 210,656 210,663 EPS (US$/Share) 0.14 0.07 Arcos Dorados' total revenues reached $1.1 billion, nearly flat in US dollars versus the prior year quarter. Total revenues grew 14.1% in constant currency, supported by 11.1% higher systemwide comparable sales. Slower underlying growth was explained by the comparison with both Leap Day and Holy Week while the US dollar result was further impacted by the strong depreciation of several local currencies versus the prior year. The Company's strategy proved its resilience in the first quarter of 2025 with sustained US dollar growth in Digital and Delivery sales, stable Drive-thru sales and the continued modernization and expansion of its restaurant portfolio. Digital sales rose 6.3% in the period, helped by close to 19 million monthly average users of the Mobile App. Digital channels generated almost 60% of systemwide sales in the quarter, including notable sales strength in Loyalty, Self-order Kiosks, Mobile Order and Pay and Own Delivery. The Company's Loyalty Program had 18.8 million registered members at the end of the first quarter of 2025. Argentina and Colombia were added to the Program during the quarter, joining Brazil, Costa Rica and Uruguay, which were added prior to 2025. Loyalty continued to gain traction with guests, generating 19% of total sales in Brazil, Costa Rica and Uruguay, with very encouraging early results in Argentina and Colombia as well. The Loyalty Program's lifecycle management strategies continued to support increased customer lifetime value as well as a 12% increase in the Mobile App's identified sales. At the end of April 2025, Ecuador became the sixth market to offer the Loyalty Program to its guests. The Program is now active in 67% of all restaurants in the Company's footprint and remains on target to be available in all main markets by year-end 2025. Drive-thru sales accounted for about 24% of systemwide sales, which has been the level for the last several quarters. Arcos Dorados continues to enjoy a structural competitive advantage with this sales channel given its market leading freestanding restaurant portfolio. The digitalization of Arcos Dorados included the implementation of a new employee scheduling system in NOLAD and SLAD's restaurants in 2024. The system, which is being optimized in 2025, helped improve productivity during the quarter, leading to a reduction in Payroll expenses as a percentage of revenue compared with the prior year period. Adjusted EBITDA – Consolidated($ million) First quarter consolidated Adjusted EBITDA was $91.3 million, down 16.2% in US dollars versus the prior year quarter. Weaker local currencies and margin pressure in Brazil led to the lower result. This was partially offset by stronger performance in SLAD, driven by a recovery in Argentina's sales and Adjusted EBITDA, the latter delivering higher US dollars and profitability margin. Net income attributable to the Company totaled $13.9 million in the first quarter of 2025, compared to $28.5 million in the same period of 2024. The result included a depreciation and amortization expense of $46.3 million, a net interest expense of $16.6 million, a $1.9 million loss from non-cash foreign exchange and derivative instruments as well as an income tax expense of $12.5 million. Consolidated Adjusted EBITDA margin was 8.5%, down 160 basis points year-over-year. This included higher Food and Paper (F&P) costs, higher Occupancy and other operating expenses and higher General and Administrative expenses (G&A) as a percentage of revenue. These effects were partially offset by lower Payroll expenses as a percentage of revenue. Under the terms of the new Master Franchise Agreement with McDonald's, the Company will apply a lower contract royalty rate equally to all three divisions beginning January 1, 2025. As a result, NOLAD and SLAD will have about 100 basis points lower Royalty Fee throughout 2025, whereas Brazil, which will no longer receive a growth support incentive, will have about 100 basis points higher Royalty Fee, compared with 2024. The net result on the consolidated royalty rate in the first quarter was a 10 basis point reduction versus the prior year quarter and the Company expects a similar impact throughout the year. Net income margin attributable to the Company was 1.3%, or 130 basis points lower versus the first quarter of 2024. In addition to the abovementioned impacts on the Adjusted EBITDA margin, the combined loss from non-cash foreign exchange and derivative instruments as well as income tax expenses were lower, as a percentage of revenue versus the prior year quarter. Arcos Dorados recorded earnings of $0.07 per share in the first quarter of 2025 compared to $0.14 per share in the prior year period. Total weighted average shares amounted to 210,663,057 in the first quarter compared to 210,655,747 in the prior year's quarter. Notable items in the Adjusted EBITDA reconciliation Included in Adjusted EBITDA: there were no notable items included in the Adjusted EBITDA in either the first quarter of 2025 or the first quarter of 2024. Excluded from Adjusted EBITDA: there were no notable items excluded from the Adjusted EBITDA in either the first quarter of 2025 or the first quarter of 2024. Divisional Results Brazil Division – Key Financial Results Figure 2. Brazil Division: Key Financial Results(In millions of U.S. dollars, except as noted) 1Q24(a) Currency Translation(b) ConstantCurrencyGrowth(c) 1Q25(a+b+c) % AsReported %ConstantCurrency Total Restaurants (Units) 1,141 1,179 Total Revenues 448.9 (73.1) 24.5 400.3 -10.8% 5.5% Systemwide Comparable Sales 2.9% Adjusted EBITDA 75.4 (9.1) (16.7) 49.6 -34.3% -22.2% Adjusted EBITDA Margin 16.8% 12.4% -4.4 p.p. Brazil's revenues totaled $400.3 million, down in US dollars due to the depreciation of the Brazilian real. According to third-party research, consumer visits to the informal eating out industry in Brazil declined versus the same period last year. Despite this softness in industry traffic, the Company's systemwide comparable sales rose 2.9% year-over-year. Digital sales growth in the division benefitted from marketing campaigns such as the Big Brother Brasil and Lollapalooza music festival sponsorships that successfully increased engagement with and awareness of the "Meu Méqui" Loyalty Program. Notable menu innovation in the quarter included the launch of McChicken Lemon Pepper and Double McChicken, reinforcing the chicken category. The Company also brought back the popular McFish sandwich for a limited time, now paired with Rustic Potatoes, offering its version of "Fish & Chips" to delight its guests. In March, Brazil introduced the "Méqui do Dia" campaign, offering a different combo promotion each day of the work week. Finally, new dessert offerings included guest-favorite M&M and Kit Kat with coconut versions of the McFlurry. According to third-party research (CREST), McDonald's brand preference increased during the quarter and value share reached a new record for the trailing-twelve-month period through March, accounting for almost 47% of the country's QSR industry sales. As reported Adjusted EBITDA in the division totaled $49.6 million in the quarter. The strong depreciation of the Brazilian real and a lower profitability margin led to the decline versus the prior year. Higher beef and other input costs pressured the F&P line in the quarter while slower sales growth led to deleveraging in the Occupancy and other operating expenses line. Payroll expenses improved while G&A remained relatively flat as a percentage of revenue. As mentioned previously, Royalty Fees were about 100 basis points higher as a percentage of revenue versus the first quarter of 2024. North Latin American Division (NOLAD) – Key Financial Results Figure 3. NOLAD Division: Key Financial Results(In millions of U.S. dollars, except as noted) 1Q24(a) Currency Translation(b) ConstantCurrencyGrowth(c) 1Q25(a+b+c) % AsReported %ConstantCurrency Total Restaurants (Units) 647 657 Total Revenues 302.7 (19.9) (1.1) 281.7 -6.9% -0.4% Systemwide Comparable Sales -1.6% Adjusted EBITDA 28.6 (1.3) (1.0) 26.2 -8.3% -3.6% Adjusted EBITDA Margin 9.4% 9.3% -0.1 p.p. As reported revenues in NOLAD totaled $281.7 million, with the year-over-year decline explained mainly by the depreciation of the Mexican peso and challenging economic conditions in many of the division's markets. Systemwide comparable sales declined 1.6% year-over-year. Notably, the result included low single digit growth in Mexico, despite the difficult comparison with Leap Day and Holy Week in the prior year and a challenging consumer environment this year. This was offset by lower comparable sales in Costa Rica and Panama, versus the same period last year. Guests in NOLAD adopted Mobile Order & Pay in increasing numbers in the quarter and Own Delivery achieved remarkable growth. Digital campaigns such as AppNiversary were key to drive downloads and customer engagement. NOLAD's marketing activities aimed at staying close to the consumer in a challenging operating environment by focusing on value platforms. Mexico leveraged its "Elige tu Fav" and "3x3" value platforms, Costa Rica added the "Combo de los Cinco" to its existing "McMenú" platform and Puerto Rico launched a bold breakfast campaign, "Las Mañanas son de McDonald's" to showcase the iconic breakfast menu. NOLAD generated food news through core extensions such as "McCrispy Legend" in Puerto Rico, the Big Mac Bacon and Double Big Mac in Costa Rica and the Filet-O-Fish in Panama. Several markets also introduced new flavors to local dessert menus. As reported Adjusted EBITDA in the division was $26.2 million in the quarter. The lower result versus the prior year came from the weaker currencies and lower total revenue. The flattish margin mainly included better F&P and Royalty Fees, which was compensated by higher Occupancy & Other Operating expenses and G&A as a percentage of revenue. Payroll expenses were approximately flat as a percentage of revenue versus the previous year, despite the continuation of minimum wage increases above inflation in Mexico and Puerto Rico. South Latin American Division (SLAD) – Key Financial Results Figure 4. SLAD Division: Key Financial Results(In millions of U.S. dollars, except as noted) 1Q24(a) Currency Translation(b) ConstantCurrencyGrowth(c) 1Q25(a+b+c) % AsReported %ConstantCurrency Total Restaurants (Units) 593 603 Total Revenues 329.7 (64.0) 128.9 394.6 19.7% 39.1% Systemwide Comparable Sales 38.7% Adjusted EBITDA 24.7 (5.4) 19.7 39.1 57.9% 79.7% Adjusted EBITDA Margin 7.5% 9.9% 2.4 p.p. SLAD's as reported revenues in the quarter were $394.6 million, up 19.7% in US dollars. Argentina rebounded from last year's challenging beginning to the year, adding to strong systemwide comparable sales growth contributions from markets such as Ecuador, Uruguay and Venezuela. Digital sales in SLAD grew about 33% in US dollars versus the prior year period. Argentina and Uruguay, both of which reached 70% digital sales penetration, generated among the Company's fastest rates of growth in Digital sales. Identified sales grew 50% versus the same period last year, and now represents more than 26% of SLAD's sales. The Loyalty Program celebrated the one-year anniversary of its launch in Uruguay, where results are among the best globally in terms of engagement. More recently, SLAD added Argentina and Colombia to the Program and early results have been promising. The AppNiversary campaign and Lollapalooza sponsorship contributed to Loyalty Program adoption as well as to growth of Own Delivery and Mobile Order & Pay on the Company's Mobile App. Most of the division's markets celebrated core favorites, with a Big Mac extension campaign to boost brand favoritism among guests. Additionally, premium line campaigns in several markets featured innovative and unique menu items such as "Tasty Feat Cuarto" in Argentina, "Tasty Turbo Bacon" in Colombia and "Master Provolone" in Ecuador. Desserts included innovations such as the Choco Cono, Oreo Cone and favorite local flavors in the McFlurry, which increased the already-large perception gap versus the nearest competitor in this segment. Visit share and brand equity scores sustained the positive trends of the last few quarters, with especially impressive results in markets such as Argentina and Uruguay. As reported Adjusted EBITDA totaled $39.1 million in the first quarter. The strong growth in the US dollar result was generated by a recovery in the division's profitability margin and a significantly lower currency impact compared with the prior year quarter. Margin expansion included the lower Royalty rate and better performance in nearly all cost and expense line items, with notably better Payroll productivity. All the division's main markets delivered higher profitability versus the prior year quarter. New Unit Development: Total and by Format1 Figure 5. Mar. 31,2025 Dec. 31,2024 Sep. 30,2024 Jun. 30,2024 Mar. 31,2024 Brazil 1,179 1,173 1,160 1,150 1,141 NOLAD 657 654 649 649 647 SLAD 603 601 601 596 593 TOTAL 2,439 2,428 2,410 2,395 2,381 1end of period, including company operated and franchised restaurants Figure 6. Footprint as of March 31, 2025 as ofMar. 31, 2025 Store Format* Total Restaurants Ownership McCafes Dessert Centers FS IS MS & FC Company Operated Franchised Brazil 630 90 459 1,179 725 454 146 2,020 NOLAD 414 47 196 657 499 158 19 523 SLAD 262 124 217 603 506 97 222 738 TOTAL 1,306 261 872 2,439 1,730 709 387 3,281 * FS: Freestanding; IS: In-Store; MS: Mall Store; FC: Food Court. Arcos Dorados added 12 new EOTF restaurants to the Company's footprint, including 10 free-standing units, in the first quarter of 2025. The Company plans to accelerate the pace of openings as the year progresses to meet its full-year guidance of 90 to 100 new restaurants. As of the end of March 2025, there were 1,669 EOTF restaurants in Arcos Dorados footprint, making up 68% of its restaurant portfolio. Consolidated Debt and Financial Ratios Figure 7. Consolidated Debt and Financial Ratios(In thousands of U.S. dollars, except ratios) March 31, December 31, 2025 2024 Total Cash & cash equivalents (i) 494,791 138,593 Total Financial Debt (ii) 1,163,404 707,649 Net Financial Debt (iii) 668,613 569,056 LTM Adjusted EBITDA 482,444 500,100 Total Financial Debt / LTM Adjusted EBITDA ratio 2.4 1.4 Net Financial Debt / LTM Adjusted EBITDA ratio 1.4 1.1 LTM Net income attributable to AD 134,180 148,759 Total Financial Debt / LTM Net income attributable to AD ratio 8.7 4.8 Net Financial Debt / LTM Net income attributable to AD ratio 5.0 3.8 (i) Total cash & cash equivalents includes short-term investment (ii)Total financial debt includes short-term debt, long-term debt, accrued interest payable and derivative instruments (including the asset portion of derivatives amounting to $75.3 million and $80.3 million as a reduction of financial debt as of March 31, 2025 and December 31, 2024, respectively). (iii) Net financial debt equals total financial debt less total cash & cash equivalents. As of March 31, 2025, total cash and cash equivalents were $494.8 million, including the net proceeds of the 2032 Notes issuance during the first quarter. Total financial debt (including the net derivative instrument position) was $1.2 billion. This figure included $243.1 million of the 2027 Notes, which the Company redeemed with cash on hand in April 2025. Net debt (total financial debt minus total cash and cash equivalents) at the end of March 2025 was $668.6 million, up from $569.1 million at the end of 2024. The net debt to Adjusted EBITDA leverage ratio ended the first quarter at 1.4x, up from 1.1x at the end of 2024. Net cash used in operating activities in the first quarter of 2025, totaled $13.4 million with total property and equipment expenditures of $ 48.8 million. This compares with the prior year quarter's net cash used in operating activities of $9.4 million and total property and equipment expenditures of $61.2 million. Recent Developments 2027 Notes Redemption On February 28, 2025, the Company announced the redemption of the untendered portion of the 2027 Notes, at a price equal to 100% of the outstanding principal amount of the Notes plus accrued and unpaid interest from October 4, 2024, to April 4, 2025, the redemption date. The redemption of the 2027 Notes was completed on April 4, 2025. 2025 Annual General Shareholders' Meeting The Company held its Annual General Shareholders' Meeting in Willemstad, Curaçao on April 25, 2025. At the meeting, all the proposals were approved by the required majority of shareholders. First Quarter 2025 Earnings Webcast A webcast to discuss the information contained in this press release will be held today, May 14, 2025, at 10:00 a.m. ET. In order to access the webcast, members of the investment community should follow this link: Arcos Dorados First Quarter 2025 Earnings Webcast. A replay of the webcast will be available later today in the investor section of the Company's website: Definitions In analyzing business trends, management considers a variety of performance and financial measures which are considered to be non-GAAP including: Adjusted EBITDA, Constant Currency basis, Systemwide sales, and Systemwide comparable sales growth. Adjusted EBITDA: In addition to financial measures prepared in accordance with the general accepted accounting principles (GAAP), this press release and the accompanying tables use a non-GAAP financial measure titled 'Adjusted EBITDA'. Management uses Adjusted EBITDA to facilitate operating performance comparisons from period to period. Adjusted EBITDA is defined as the Company's operating income plus depreciation and amortization plus/minus the following losses/gains: gains from sale or insurance recovery of property and equipment, write-offs of long-lived assets, and impairment of long-lived assets. Management believes Adjusted EBITDA facilitates company-to-company operating performance comparisons by backing out potential differences caused by variations such as capital structures (affecting net interest expense and other financing results), taxation (affecting income tax expense) and the age and book depreciation of facilities and equipment (affecting relative depreciation expense), which may vary for different companies for reasons unrelated to operating performance. Figure 8 of this earnings release includes a reconciliation for Adjusted EBITDA. For more information, please see Adjusted EBITDA reconciliation in Note 9 – Segment and geographic information – of our financial statements (6-K Form) filed today with the S.E.C. Constant Currency basis: refers to amounts calculated using the same exchange rate over the periods under comparison to remove the effects of currency fluctuations from this trend analysis. To better discern underlying business trends, this release uses non-GAAP financial measures that segregate year-over-year growth into two categories: (i) currency translation and (ii) constant currency growth. (i) Currency translation reflects the impact on growth of the appreciation or depreciation of the local currencies in which the Company conducts its business against the US dollar (the currency in which the Company's financial statements are prepared). (ii) Constant currency growth reflects the underlying growth of the business excluding the effect from currency translation. The Company also calculates variations as a percentage in constant currency, which are also considered to be non-GAAP measures, to provide a more meaningful analysis of its business by identifying the underlying business trends, without distortion from the effect of foreign currency fluctuations. Systemwide sales: Systemwide sales represent measures for both Company-operated and sub-franchised restaurants. While sales by sub-franchisees are not recorded as revenues by the Company, management believes the information is important in understanding its financial performance because these sales are the basis on which it calculates and records sub-franchised restaurant revenues and are indicative of the financial health of its sub-franchisee base. Systemwide comparable sales growth: this non-GAAP measure, refers to the change, on a constant currency basis, in Company-operated and sub-franchised restaurant sales in one period from a comparable period for restaurants that have been open for thirteen months or longer (year-over-year basis) including those temporarily closed. Management believes it is a key performance indicator used within the retail industry and is indicative of the success of the Company's initiatives as well as local economic, competitive and consumer trends. Sales by sub-franchisees are not recorded as revenues by the Company. About Arcos Dorados Arcos Dorados is the world's largest independent McDonald's franchisee, operating the largest quick service restaurant chain in Latin America and the Caribbean. It has the exclusive right to own, operate and grant franchises of McDonald's restaurants in 20 Latin American and Caribbean countries and territories with more than 2,400 restaurants, operated by the Company or by its sub-franchisees, that together employ more than 100 thousand people (as of 03/31/2025). The Company is also committed to the development of the communities in which it operates, to providing young people their first formal job opportunities and to utilize its Recipe for the Future to achieve a positive environmental impact. Arcos Dorados is listed for trading on the New York Stock Exchange (NYSE: ARCO). To learn more about the Company, please visit the Investors section of our website: Cautionary Statement on Forward-Looking Statements This press release contains forward-looking statements. The forward-looking statements contained herein include statements about the Company's business prospects, its ability to attract customers, its expectation for revenue generation and its outlook and guidance for 2025. These statements are subject to the general risks inherent in Arcos Dorados' business. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, Arcos Dorados' business and operations involve numerous risks and uncertainties, many of which are beyond the control of Arcos Dorados, which could result in Arcos Dorados' expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of Arcos Dorados. Additional information relating to the uncertainties affecting Arcos Dorados' business is contained in its filings with the Securities and Exchange Commission. The forward-looking statements are made only as of the date hereof, and Arcos Dorados does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. First Quarter 2025 Consolidated Results Figure 8.(In thousands of U.S. dollars, except per share data) For Three-Months ended March 31, 2025 2024 REVENUES Sales by Company-operated restaurants 1,027,531 1,031,422 Revenues from franchised restaurants 49,061 49,934 Total Revenues 1,076,592 1,081,356 OPERATING COSTS AND EXPENSES Company-operated restaurant expenses: Food and paper (366,612) (360,987) Payroll and employee benefits (197,749) (201,960) Occupancy and other operating expenses (308,065) (299,053) Royalty fees (63,411) (65,003) Franchised restaurants - occupancy expenses (21,044) (21,990) General and administrative expenses (73,325) (68,658) Other operating (expenses) income, net (1,239) 3,846 Total operating costs and expenses (1,031,445) (1,013,805) Operating income 45,147 67,551 Net interest expense and other financing results (16,592) (16,438) Gain (loss) from derivative instruments 110 (1,933) Foreign currency exchange results (1,961) (998) Other non-operating expenses, net (122) (429) Income before income taxes 26,582 47,753 Income tax expense, net (12,505) (18,961) Net income 14,077 28,792 Net income attributable to non-controlling interests (147) (283) Net income attributable to Arcos Dorados Holdings Inc. 13,930 28,509 Net income attributable to Arcos Dorados Holdings Inc. Margin as % of total revenues 1.3% 2.6% Earnings per share information ($ per share): Basic net income per common share $ 0.07 $ 0.14 Weighted-average number of common shares outstanding-Basic 210,663,057 210,655,747 Adjusted EBITDA Reconciliation Net income attributable to Arcos Dorados Holdings Inc. 13,930 28,509 Net income attributable to non-controlling interests 147 283 Income tax expense, net 12,505 18,961 Other non-operating expenses, net 122 429 Foreign currency exchange results 1,961 998 Gain (loss) from derivative instruments (110) 1,933 Net interest expense and other financing results 16,592 16,438 Depreciation and amortization 46,295 43,091 Operating charges excluded from EBITDA computation (163) (1,707) Adjusted EBITDA 91,279 108,935 Adjusted EBITDA Margin as % of total revenues 8.5% 10.1% First Quarter 2025 Results by Division and Average Exchange Rates per Quarter Figure 9. First Quarter 2025 Consolidated Results by Division(In thousands of U.S. dollars) For Three-Months ended as Constant March 31, reported Currency 2025 2024 Incr/(Decr)% Incr/(Decr)% Revenues Brazil 400,302 448,937 -10.8% 5.5% NOLAD 281,700 302,721 -6.9% -0.4% SLAD 394,590 329,698 19.7% 39.1% TOTAL 1,076,592 1,081,356 -0.4% 14.1% Operating Income (loss) Brazil 32,978 57,042 -42.2% -31.5% NOLAD 12,859 17,983 -28.5% -27.2% SLAD 25,069 14,442 73.6% 97.5% Corporate and Other (25,759) (21,916) -17.5% -30.9% TOTAL 45,147 67,551 -33.2% -23.0% Adjusted EBITDA Brazil 49,569 75,446 -34.3% -22.2% NOLAD 26,240 28,602 -8.3% -3.6% SLAD 39,060 24,741 57.9% 79.7% Corporate and Other (23,590) (19,854) -18.8% -32.8% TOTAL 91,279 108,935 -16.2% -4.2% Figure 10. Average Exchange Rate per Quarter period averagelocal currency per US$ Brazil Mexico Argentina 1Q25 5.86 20.43 1,055.04 1Q24 4.95 16.97 834.32 Summarized Consolidated Balance Sheet Figure 11. Summarized Consolidated Balance Sheets(In thousands of U.S. dollars) March 31, December 31, 2025 2024 ASSETS Current assets Cash and cash equivalents 404,606 135,064 Short-term investments 90,185 3,529 Accounts and notes receivable, net 148,628 119,441 Other current assets (1) 217,258 209,953 Derivative instruments 132 416 Total current assets 860,809 468,403 Non-current assets Property and equipment, net 1,175,979 1,127,042 Net intangible assets and goodwill 133,823 66,644 Deferred income taxes 106,010 90,287 Derivative instruments 75,169 79,874 Equity method investments 14,362 14,346 Leases right of use asset 997,942 949,977 Other non-current assets (2) 102,926 96,081 Total non-current assets 2,606,211 2,424,251 Total assets 3,467,020 2,892,654 LIABILITIES AND EQUITY Current liabilities Accounts payable 297,609 347,895 Taxes payable (3) 116,447 118,466 Accrued payroll and other liabilities 155,076 113,259 Royalties payable to McDonald's Corporation 27,813 20,860 Provision for contingencies 1,198 1,199 Interest payable 21,873 7,798 Financial debt (4) 285,738 64,167 Operating lease liabilities 95,278 92,280 Total current liabilities 1,001,032 765,924 Non-current liabilities Accrued payroll and other liabilities 90,763 20,928 Provision for contingencies 33,015 29,157 Financial debt (5) 931,094 715,974 Deferred income taxes 2,094 2,084 Operating lease liabilities 892,259 849,158 Total non-current liabilities 1,949,225 1,617,301 Total liabilities 2,950,257 2,383,225 Equity Class A shares of common stock 389,967 389,967 Class B shares of common stock 132,915 132,915 Additional paid-in capital 8,659 8,659 Retained earnings 627,760 664,390 Accumulated other comprehensive loss (624,687) (668,484) Common stock in treasury (19,367) (19,367) Total Arcos Dorados Holdings Inc shareholders' equity 515,247 508,080 Non-controlling interest in subsidiaries 1,516 1,349 Total equity 516,763 509,429 Total liabilities and equity 3,467,020 2,892,654 (1) Includes "Other receivables", "Inventories" and "Prepaid expenses and other current assets". (2) Includes "Miscellaneous" and "Collateral deposits". (3) Includes "Income taxes payable" and "Other taxes payable". (4) Includes "Short-term debt", "Current portion of long-term debt" and "Derivative instruments". (5) Includes "Long-term debt, excluding current portion" and "Derivative instruments". View source version on Contacts Investor Relations ContactDan SchleinigerVP of Investor RelationsArcos Media ContactDavid GrinbergVP of Corporate CommunicationsArcos Follow us on:LinkedIn Instagram X YouTube Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
16-04-2025
- Business
- Associated Press
Skyline Title Support Launches Customer Loyalty Program for Property Due Diligence Services
Miami, FL April 16, 2025 --( )-- Skyline Title Support, a leading provider of nationwide property research and real estate due diligence services, today announced the launch of its new Customer Loyalty Program, a points-based incentive program designed to give clients additional value with every order. With this new program, customers can earn points for paid services such as Municipal Lien Searches, HOA Estoppel Letters, Land Surveys, Tax Certificates, and more. Points can be redeemed for digital gift cards from over 100 popular brands including Amazon, Starbucks, Target, Visa, and DoorDash. 'This program is our way of saying thank you,' said Denys Ferreiro, CEO of Skyline Title Support. 'Clients rely on us for fast, reliable title support every day. Now, we're giving them something extra back — real rewards for services they're already using.' How the Skyline Loyalty Program Works: Earn Points Automatically: Points are earned on every paid order — 50 points for lien searches, estoppel letters, and surveys; 25 points for other services. Redeem Easily: Customers can track and redeem points anytime from their dashboard, starting at just 500 points ($5 in rewards). No Extra Cost: Enrollment is free. Clients simply contact their account manager to activate rewards on their account. The Skyline Loyalty Program is live and is available to all clients nationwide. The program was built with flexibility in mind — making it especially beneficial for title companies, attorneys, and real estate professionals looking to streamline operations while earning something extra. About Skyline Title Support Skyline Title Support provides comprehensive real estate title services across the U.S., including municipal lien searches, tax certificates, HOA/condo estoppels, title searches, land surveys, deed preparations, and zoning letters. With deep industry expertise and seamless integrations with platforms like Qualia, Resware, SoftPro, and RamQuest, Skyline delivers accurate, efficient support for title companies, real estate attorneys, and lenders. The Skyline Loyalty Program is a voluntary, post-service customer appreciation initiative. Points are awarded exclusively for services that have been completed and paid in full and are not offered in exchange for referrals, the direction of business, or any agreement to influence the selection of settlement service providers. The program is designed to comply fully with Section 8 of the Real Estate Settlement Procedures Act (RESPA) and applicable regulations and does not constitute an inducement, kickback, or referral fee. Skyline Title Support reserves the right to amend, suspend, or terminate the program at its sole discretion. Contact Information: Skyline Title Support Jason Danzi 1-888-553-4627 Contact via Email Read the full story here: Skyline Title Support Launches Customer Loyalty Program for Property Due Diligence Services Press Release Distributed by
Yahoo
13-03-2025
- Business
- Yahoo
Kama Capital Enhances Trader Engagement with Performance-Based Loyalty Program
DUBAI, United Arab Emirates, March 13, 2025 (GLOBE NEWSWIRE) -- Kama Capital has launched a new loyalty program aimed at providing traders with structured rewards designed to enhance their trading experience. The program offers a range of incentives based on trading activity, distinguishing itself from traditional brokerage models that primarily focus on fees and retention strategies. A New Approach to Trader Rewards Unlike conventional brokerage loyalty programs that often center on deposit-based incentives, Kama Capital's program is structured to offer traders tangible benefits at various stages of their trading journey. 'Our Loyalty Program is an extension of our mission—to provide traders with meaningful rewards that contribute to their long-term success,' said Razan Assaf, Deputy CEO of Kama Capital. 'We have developed a model that prioritizes traders by offering real benefits rather than promotional incentives.' Program Highlights The Kama Capital Loyalty Program offers multiple incentives, including: Welcome Bonus ($10): Traders who complete KYC verification receive a starting bonus to begin trading. First Deposit Bonus (10% up to $100): New traders can receive additional capital when funding their accounts. Volume-Based Rewards: Traders earn rewards based on their trading activity. Monthly Challenges: Additional incentives are available for top-performing traders who achieve key milestones in profitability and engagement. Elena Kupriianova, Chief Marketing Officer at Kama Capital, emphasized the program's focus on long-term trader engagement. 'This initiative ensures that traders are recognized and rewarded for their continued activity in the market.' Supporting Trader Growth Kama Capital's approach aims to provide traders with incentives that align with their trading objectives. 'Loyalty programs should offer meaningful value rather than just encourage deposits,' said Basem Elhelaly, Customer Support Manager. 'Our goal is to create an environment where traders feel supported and in control of their growth.'By integrating structured rewards with trading performance, Kama Capital seeks to offer a program that enhances trader engagement while maintaining transparency and value. About Kama CapitalKama Capital is a financial services provider specializing in trading solutions that cater to a diverse range of market participants. The company focuses on offering a flexible and transparent trading environment, providing tools and resources designed to support traders in navigating global financial markets. With a commitment to innovation and trader empowerment, Kama Capital aims to enhance the trading experience through technology-driven solutions and customer-centric initiatives. For more information about the Kama Capital Loyalty Program, users can visit: Kama Capital Loyalty Program Contact Head of Digital & PartnershipsKarthik R. ArumugamKama Capital A photo accompanying this announcement is available at in to access your portfolio
Associated Press
07-03-2025
- Business
- Associated Press
KuCoin Launches KCS Loyalty Level Program: Redefine the KCS Ecosystem and Unlock New Privileges
VICTORIA, Seychelles, March 7, 2025 /CNW/ -- KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of its brand new KCS Loyalty Level Program. This freshly launched program is designed to enhance the utility of existing and new KCS holders by introducing a tiered loyalty system that rewards users based on their KCS stakings. By joining the program, users are set to unlock premium benefits designed to maximize their trading experiences. The KCS Loyalty Level Program introduces four distinct tiers: Explorer, Navigator, Voyager, and Pioneer, with benefits accessible starting from staking as little as 1 KCS to unlock the Explorer level. Each subsequent level offers progressively greater benefits, rewarding users for higher levels of engagement with the platform. Key benefits of the KCS Loyalty Level Program include: increased KCS staking yields, higher additional bonuses for staking rewards, GemPool activities, trading fees discount, rebates of withdrawal fees, KuCard cashback, and increased zero-interest credit limits for new institutional and VIP users. Exciting Campaign Activities: To celebrate the launch, KuCoin is also rolling out several campaign activities: Existing KCS Holder Airdrop: An airdrop for existing KCS holders who meet the set threshold will be automatically granted to their staking accounts. New KCS Holder Subscription Contest: New KCS holders that enter the Loyalty Program will be rewarded based on the leaderboard ranking. Pioneer Member Additional Bonus: Pioneer-level users can participate in various activities to win prizes, including KCS and trading coupons. 'This new loyalty program underscores our commitment to enhancing user benefits and solidifying the market value of our platform coin,' said Alicia Kao, the Managing Director of KuCoin. 'We're dedicated to providing our users with more ways to benefit from being part of the KuCoin ecosystem, and this loyalty program is poised to transform how our users engage with our platform.' Participate and jointly redefine the possibilities of KCS ecosystem with more gains and surprises on the way. For more details about the KCS Loyalty Level Program and to engage in the campaign activities, please visit KuCoin's official website. About KuCoin Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 39 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as 'Best Crypto Apps & Exchanges' by Forbes and has been recognized among the 'Top 50 Global Unicorns' by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Learn more: Disclaimer: This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions or any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances.
