Arcos Dorados Holdings Inc. (NYSE:ARCO) Q4 2023 Earnings Conference Call March 13, 2024 10:00 AM ET
Company Participants
Daniel Schleiniger - Investor Relations
Marcelo Rabach - Chief Executive Officer
Luis Raganato - Chief Operating Officer
Mariano Tannenbaum - Chief Financial Officer
Daniel Schleiniger
Good morning, everyone, and thank you for joining our Fourth Quarter and Full Year 2023 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.
Marcelo, over to you.
Marcelo Rabach
Thank you, Dan. Good morning, everyone, and thank you for joining us today. I am very pleased to confirm that we had a very strong year in 2023. Our 3D's strategy of Digital, Delivery and Drive-thru continues to evolve, while leveraging the industry’s largest freestanding restaurant portfolio.
Digital sales includes mobile app, Delivery and Self-order Kiosk consumptions. The penetration of these channels is expanding throughout footprint. Thanks to a mobile app that has evolved into an ecommerce platform offering incentives and convenience to increase guest loyalty and visit frequency. A delivery sales channel which continues to work strongly in a segment where we are the established industry leaders.
On self-order kiosks that are capturing an increasing share of on-premise orders with above 60% of Arcos Dorados restaurants already modernized to the experience of the future format. Our 3D’s strategy continues to drive sustainable sales growth supported by both restaurant volume and average check.