Arcos Dorados Holdings Inc. (NYSE:ARCO) Q4 2022 Earnings Call Transcript March 15, 2023 10:00 AM ET
Company Participants
Dan Schleiniger - Vice President of Investor Relations
Marcelo Rabach - Chief Executive Officer
Luis Raganato - Chief Operating Officer
Mariano Tannenbaum - Chief Financial Officer
Conference Call Participants
Dan Schleiniger
Good morning, everyone, and thank you for joining our Fourth Quarter and Full Year 2022 Earnings Webcast. With us today are Marcelo Rabach, our Chief Executive Officer; Luis Raganato, our Chief Operating Officer; and Mariano Tannenbaum, our Chief Financial Officer.
Today’s webcast, which is being recorded, will consist of prepared remarks from our leadership team, which will be accompanied by a slide presentation, also available in the Investors section of our website, www.arcosdorados.com/ir.
As a reminder, to better view the presentation on the webcast platform, please scroll over the upper left-hand part of the screen and click on the arrows to maximize the slides. After we conclude our opening remarks, we will answer your questions, which you can submit using the chat function on the left-hand side of the screen. You will need to minimize the slides to access the chat function.
Today’s call will contain forward-looking statements, and I refer you to the forward-looking statements section of our earnings release and recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or circumstances. In addition to reporting financial results in accordance with generally accepted accounting principles, we report certain non-GAAP financial results.
Investors are encouraged to review the reconciliation of these non-GAAP financial results, as compared with GAAP results, which can be found in the press release and audited financial statements filed today with the SEC on Form 6-K. Our discussion today excludes the results of the Venezuelan operation, both at the consolidated level as well as for the SLAD division. For your reference, we included a full income statement, excluding Venezuela with today’s earnings release. Marcelo, over to you.
Marcelo Rabach
Thank you, Dan. Good morning, everyone, and thank you for joining us today. Today, we will take you through the best results in Arcos Dorados' history and remind you of the reasons we feel confident we can continue improving on these results in 2023 and beyond.
Let's start with the key highlights of the fourth quarter and full year 2022. Fourth quarter revenue and adjusted EBITDA were the highest ever for a single quarter. Net income in the quarter was second only to the fourth quarter of 2017, which included significant non-operating income from our redevelopment program.