Arcos Dorados Holdings Inc. (NYSE:ARCO) Q1 2022 Earnings Conference Call May 18, 2022 10:00 AM ET
Company Participants
Dan Schleiniger - VP, IR
Marcelo Rabach - CEO
Mariano Tannenbaum - CFO
Luis Raganato - COO
Conference Call Participants
Marcella Recchia - Credit Suisse
Steven Grey - Grey Value Management, LLC
Ulises Argote - JPMorgan
Robert Ford - Bank of America
Operator
Good morning, everyone, and thank you for joining our First Quarter 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 unaudited 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 slab 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 we have another quarter of record sales and profitability to report. You will see that these results are broad-based and sustainable. Thanks to the focused execution of our Three-D’s; Digital, Delivery and Drive-thru strategy. Our balance sheet and cash generation are as strong as ever and we are on track to exceed the guidance we provided for investments and restaurant openings in 2022.