Arcos Dorados Holdings Inc. (NYSE:ARCO) Q1 2024 Earnings Conference Call May 15, 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
Conference Call Participants
Daniel Schleiniger
Good morning, everyone, and thank you for joining our First Quarter 2024 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. The strength of the results we reported this morning demonstrate how far we've come as a company over the last decade.
They also reinforce the strength of the Arcos Dorados business model with solid U.S. dollar growth to start 2024, even in the face of a very challenging economic environment in one of our main markets. This is a testament to the importance of operating responsibly and managing the business with a long-term mindset.
In the last 10 years, we diversified the business, reducing the weight of any single country. While Brazil remains our biggest market, NOLAD now contributes a growing share of sales and EBITDA, much of it in hard or very stable currencies. And within slab markets like Chile, Colombia and Uruguay have also increased their contributions to consolidated results. Our objective is to generate sustainable profitability growth over the long-term.