Arcos Dorados Holdings Inc. reported unaudited results for the third quarter ended September 30, 2024, with consolidated revenues totaling $1.1 billion, marking a new high for a third quarter. Systemwide comparable sales rose 32.1% year-over-year, driven by increases in both average check and guest volumes. Excluding Argentina, systemwide comparable sales grew 1.6 times blended inflation for the period.
The company's digital platform continued to be a significant growth driver, with sales rising 16% versus the prior year and generating 58% of systemwide sales. Delivery and Drive-thru channels combined accounted for 43% of systemwide sales, demonstrating the success of the company's omnichannel strategy. The customer relationship management (CRM) platform had approximately 94 million unique registered users as of September 30, 2024.
Adjusted EBITDA reached $125.0 million, the second highest for a third quarter, with an Adjusted EBITDA margin of 11.0%. Net income attributable to Arcos Dorados totaled $35.2 million, or $0.17 per share. The company also reported opening 56 Experience of the Future (EOTF) restaurants year-to-date through September, including 32 in Brazil, as part of its development strategy.
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