<p>阿科斯多拉多斯（Arcos Dorados）已召開其第三季度財報電話會議。以下是會議的主要亮點。</p>
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<p>阿科斯多拉多斯最近的財報電話會議描繪了一個總體積極的局面，展示了創紀錄的收入和強勁的數字增長。儘管取得了這些成就，公司在巴西面臨挑戰，主要是由於輸入成本壓力。聯邦税收抵免提供了一些緩解，但潛在的成本問題仍然令人擔憂。</p>
<h2>創紀錄的收入</h2>
<p>阿科斯多拉多斯報告第三季度總收入為 12 億美元，創下單季度新高。這一成就得益於所有部門的美元增長平衡，突顯了公司的強勁財務表現。</p>
<h2>強勁的可比銷售</h2>
<p>系統範圍內的可比銷售增長了 12.7%，SLAD 表現突出，尤其是在阿根廷，以及墨西哥等部分 NOLAD 市場。這一增長反映了公司在多元市場推動銷售的能力。</p>
<h2>數字和忠誠度計劃增長</h2>
<p>數字渠道銷售同比增長超過 11%，佔系統範圍內銷售的 61%。忠誠度計劃也實現了顯著增長，會員人數增加近 50%，達到 2360 萬，凸顯了公司對數字參與的重視。</p>
<h2>新餐廳開業成功</h2>
<p>公司在本季度開設了 22 家新餐廳，助力其年度 90 至 100 家新開業的目標。這一擴張是阿科斯多拉多斯增加市場存在感和推動增長的戰略的一部分。</p>
<h2>品牌實力和市場份額</h2>
<p>市場營銷努力增強了品牌與消費者的聯繫，幫助保護或擴大市場份額，並支持各市場的表現。</p>
<h2>巴西數字銷售改善</h2>
<p>在巴西，數字銷售佔系統範圍內銷售的近 72%，顯示出外賣和自助點餐機的顯著強勁，這些是公司數字戰略的關鍵組成部分。</p>
<h2>積極的税收抵免影響</h2>
<p>公司受益於巴西 8560 萬美元的淨聯邦税收抵免，預計將對現金流產生積極影響，在成本壓力中提供一些緩解。</p>
<h2>調整後 EBITDA 下降</h2>
<p>不包括聯邦税收抵免，調整後的 EBITDA 以美元計下降約 3%，主要由於持續的食品和紙張成本壓力，突顯了管理輸入成本的持續挑戰。</p>
<h2>巴西面臨挑戰</h2>
<p>巴西面臨消費者和宏觀經濟挑戰，客流量略有下降，食品和紙張成本上升影響了利潤率，給公司帶來了重大挑戰。</p>
<h2>輸入成本壓力</h2>
<p>第三季度食品和紙張成本上升，尤其是在巴西，牛肉價格同比上漲 35%，影響了公司的盈利能力。</p>
<h2>NOLAD 持續壓力</h2>
<p>儘管工資改善和較低的特許權使用費，NOLAD 的利潤率仍受到食品和紙張成本、租金費用和管理費用的壓力，顯示出該地區的表現不一。</p>
<h2>前瞻性指導</h2>
<p>展望未來，阿科斯多拉多斯對其增長前景保持樂觀。公司有望實現年度 90 至 100 家新餐廳開業的指導目標。預計數字銷售將繼續上升，受益於外賣和自助點餐機的強勁表現。忠誠度計劃的擴展也預計將有助於可持續的收入增長，儘管在巴西等關鍵市場面臨持續挑戰。</p>
<p>總之，阿科斯多拉多斯的財報電話會議突顯了強勁的財務表現，創紀錄的收入和數字增長。然而，輸入成本壓力等挑戰，特別是在巴西，仍然令人擔憂。公司的戰略舉措，包括新餐廳開業和數字參與，預計將支持未來的增長，反映出謹慎樂觀的前景。</p>

ARCO

<p>阿克羅斯多拉多斯在第三季度報告了創紀錄的 12 億美元收入，得益於強勁的數字增長和 12.7% 的可比銷售增長。儘管由於原材料成本上升在巴西面臨挑戰，公司仍然開設了 22 家新餐廳，並在其忠誠度計劃中實現了顯著增長。聯邦税收抵免提供了一定的緩解，但調整後的息税折舊攤銷前利潤（EBITDA）在不考慮該抵免的情況下下降了 3%。儘管面臨持續的成本壓力，公司對未來增長保持樂觀，計劃開設 90 到 100 家新店，並繼續擴大數字銷售</p>

<p>Arcos Dorados ((ARCO)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>阿科斯多拉多斯（Arcos Dorados）已召開其第三季度財報電話會議。以下是會議的主要亮點。</p>
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<div class="lb-trans"><h3>認識您的 ETF 人工智能分析師</h3>
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</div><p>The recent earnings call of Arcos Dorados painted a generally positive picture, showcasing record-breaking revenue and robust digital growth. Despite these achievements, the company faces challenges, particularly in Brazil, due to input cost pressures. A federal tax credit provided some relief, but underlying cost issues remain a concern.</p>
<div class="lb-trans"><p>阿科斯多拉多斯最近的財報電話會議描繪了一個總體積極的局面，展示了創紀錄的收入和強勁的數字增長。儘管取得了這些成就，公司在巴西面臨挑戰，主要是由於輸入成本壓力。聯邦税收抵免提供了一些緩解，但潛在的成本問題仍然令人擔憂。</p>
</div><h2>Record-Breaking Revenue</h2>
<div class="lb-trans"><h2>創紀錄的收入</h2>
</div><p>Arcos Dorados reported a total revenue of $1.2 billion for the third quarter, setting a new high for a single quarter. This achievement was marked by balanced US dollar growth across all divisions, highlighting the company’s strong financial performance.</p>
<div class="lb-trans"><p>阿科斯多拉多斯報告第三季度總收入為 12 億美元，創下單季度新高。這一成就得益於所有部門的美元增長平衡，突顯了公司的強勁財務表現。</p>
</div><h2>Strong Comparable Sales</h2>
<div class="lb-trans"><h2>強勁的可比銷售</h2>
</div><p>System-wide comparable sales increased by 12.7%, with standout performances in SLAD, especially Argentina, and selected NOLAD markets such as Mexico. This growth reflects the company’s ability to drive sales across diverse markets.</p>
<div class="lb-trans"><p>系統範圍內的可比銷售增長了 12.7%，SLAD 表現突出，尤其是在阿根廷，以及墨西哥等部分 NOLAD 市場。這一增長反映了公司在多元市場推動銷售的能力。</p>
</div><h2>Digital and Loyalty Program Growth</h2>
<div class="lb-trans"><h2>數字和忠誠度計劃增長</h2>
</div><p>Digital channel sales grew by more than 11% compared to the previous year, accounting for 61% of system-wide sales. The loyalty program also saw significant growth, expanding by nearly 50% to 23.6 million members, underscoring the company’s focus on digital engagement.</p>
<div class="lb-trans"><p>數字渠道銷售同比增長超過 11%，佔系統範圍內銷售的 61%。忠誠度計劃也實現了顯著增長，會員人數增加近 50%，達到 2360 萬，凸顯了公司對數字參與的重視。</p>
</div><h2>Successful New Restaurant Openings</h2>
<div class="lb-trans"><h2>新餐廳開業成功</h2>
</div><p>The company opened 22 new restaurants in the quarter, contributing to its goal of 90 to 100 openings for the year. This expansion is part of Arcos Dorados’ strategy to increase its market presence and drive growth.</p>
<div class="lb-trans"><p>公司在本季度開設了 22 家新餐廳，助力其年度 90 至 100 家新開業的目標。這一擴張是阿科斯多拉多斯增加市場存在感和推動增長的戰略的一部分。</p>
</div><h2>Brand Strength and Market Share</h2>
<div class="lb-trans"><h2>品牌實力和市場份額</h2>
</div><p>Marketing efforts have strengthened the brand’s connection with consumers, helping to protect or expand market share and support performance across various markets.</p>
<div class="lb-trans"><p>市場營銷努力增強了品牌與消費者的聯繫，幫助保護或擴大市場份額，並支持各市場的表現。</p>
</div><h2>Improved Digital Sales in Brazil</h2>
<div class="lb-trans"><h2>巴西數字銷售改善</h2>
</div><p>In Brazil, digital sales accounted for nearly 72% of system-wide sales, demonstrating notable strength in delivery and self-order kiosks, which are key components of the company’s digital strategy.</p>
<div class="lb-trans"><p>在巴西，數字銷售佔系統範圍內銷售的近 72%，顯示出外賣和自助點餐機的顯著強勁，這些是公司數字戰略的關鍵組成部分。</p>
</div><h2>Positive Tax Credit Impact</h2>
<div class="lb-trans"><h2>積極的税收抵免影響</h2>
</div><p>The company benefited from an $85.6 million net federal tax credit in Brazil, which is expected to positively impact cash flows, providing some relief amid cost pressures.</p>
<div class="lb-trans"><p>公司受益於巴西 8560 萬美元的淨聯邦税收抵免，預計將對現金流產生積極影響，在成本壓力中提供一些緩解。</p>
</div><h2>Decline in Adjusted EBITDA</h2>
<div class="lb-trans"><h2>調整後 EBITDA 下降</h2>
</div><p>Excluding the federal tax credit, adjusted EBITDA in US dollars declined by about 3%, primarily due to continued food and paper cost pressures, highlighting ongoing challenges in managing input costs.</p>
<div class="lb-trans"><p>不包括聯邦税收抵免，調整後的 EBITDA 以美元計下降約 3%，主要由於持續的食品和紙張成本壓力，突顯了管理輸入成本的持續挑戰。</p>
</div><h2>Challenges in Brazil</h2>
<div class="lb-trans"><h2>巴西面臨挑戰</h2>
</div><p>Brazil faced consumer and macroeconomic challenges, with guest volumes slightly down and elevated food and paper costs affecting margins, posing a significant challenge for the company.</p>
<div class="lb-trans"><p>巴西面臨消費者和宏觀經濟挑戰，客流量略有下降，食品和紙張成本上升影響了利潤率，給公司帶來了重大挑戰。</p>
</div><h2>Input Cost Pressures</h2>
<div class="lb-trans"><h2>輸入成本壓力</h2>
</div><p>The third quarter saw elevated food and paper costs, especially in Brazil, with beef prices increasing by 35% year over year, impacting the company’s profitability.</p>
<div class="lb-trans"><p>第三季度食品和紙張成本上升，尤其是在巴西，牛肉價格同比上漲 35%，影響了公司的盈利能力。</p>
</div><h2>Continued Pressure in NOLAD</h2>
<div class="lb-trans"><h2>NOLAD 持續壓力</h2>
</div><p>NOLAD’s margin was pressured due to food and paper costs, occupancy expenses, and G&amp;A, despite improved payroll and lower royalties, indicating a mixed performance in the region.</p>
<div class="lb-trans"><p>儘管工資改善和較低的特許權使用費，NOLAD 的利潤率仍受到食品和紙張成本、租金費用和管理費用的壓力，顯示出該地區的表現不一。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Looking ahead, Arcos Dorados remains optimistic about its growth prospects. The company is on track to meet its annual guidance of 90 to 100 new restaurant openings. Digital sales are expected to continue their upward trajectory, driven by strong performances in delivery and self-order kiosks. The loyalty program’s expansion is also anticipated to contribute to sustainable top-line growth, despite ongoing challenges in key markets like Brazil.</p>
<div class="lb-trans"><p>展望未來，阿科斯多拉多斯對其增長前景保持樂觀。公司有望實現年度 90 至 100 家新餐廳開業的指導目標。預計數字銷售將繼續上升，受益於外賣和自助點餐機的強勁表現。忠誠度計劃的擴展也預計將有助於可持續的收入增長，儘管在巴西等關鍵市場面臨持續挑戰。</p>
</div><p>In conclusion, Arcos Dorados’ earnings call highlighted a strong financial performance with record-breaking revenue and digital growth. However, challenges such as input cost pressures, particularly in Brazil, remain a concern. The company’s strategic initiatives, including new restaurant openings and digital engagement, are expected to support future growth, reflecting a cautiously optimistic outlook.</p>
<div class="lb-trans"><p>總之，阿科斯多拉多斯的財報電話會議突顯了強勁的財務表現，創紀錄的收入和數字增長。然而，輸入成本壓力等挑戰，特別是在巴西，仍然令人擔憂。公司的戰略舉措，包括新餐廳開業和數字參與，預計將支持未來的增長，反映出謹慎樂觀的前景。</p>
</div>

Acros Dorados 在面臨成本挑戰的情況下，以創紀錄的收入表現出色