Arcos Dorados Sets April 26 Shareholder Meeting

TL;DR

Arcos Dorados (ARCO) holding shareholder meeting April 26th, proxy materials out.

AI Summary

Arcos Dorados Holdings Inc. filed a Form 6-K on April 9, 2024, announcing its 2024 Annual General Shareholders' Meeting scheduled for April 26, 2024. The filing includes a letter to shareholders, the meeting notice, and a proxy card. Juan David Bastidas, Chief Legal Counsel, signed the report.

Why It Matters

This filing signals an upcoming governance event where shareholders will vote on company matters, potentially impacting future strategic decisions and leadership.

Risk Assessment

Risk Level: low — This is a routine corporate filing announcing a shareholder meeting and related materials, not indicating new financial or operational risks.

Key Players & Entities

• Arcos Dorados Holdings Inc. (company) — Registrant
• April 26, 2024 (date) — Annual General Shareholders' Meeting date
• Juan David Bastidas (person) — Chief Legal Counsel who signed the report
• April 9, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $4.3 b — Consolidated revenue in 2023 surpassed $4.3 billion, the highest-ever US dollar total
• $472.3 million — 2. Consolidated Adjusted EBITDA reached $472.3 million in full-year 2023, the highest US dolla
• $181.3 m — , net income for the full year 2023 was $181.3 million, or $0.86 per share, the highest
• $0.86 — e full year 2023 was $181.3 million, or $0.86 per share, the highest earnings per sha
• $360 million — ealthy debt profile. We invested about $360 million to open, modernize and maintain restaur
• $300 — ar is for total capital expenditures of $300 to $350 million, which we expect to fun
• $350 m — r total capital expenditures of $300 to $350 million, which we expect to fund with cas

Filing Documents

• dp209586_6k.htm (6-K) — 50KB
• image_007.jpg (GRAPHIC) — 3KB
• image_008.jpg (GRAPHIC) — 2KB
• image_011.jpg (GRAPHIC) — 78KB
• image_012.jpg (GRAPHIC) — 56KB
• 0000950103-24-005086.txt ( ) — 244KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April, 2024 Commission File Number: 001-35129 Arcos Dorados Holdings Inc. (Exact name of registrant as specified in its charter) Río Negro 1338, First Floor Montevideo, Uruguay, 11100 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F ARCOS DORADOS HOLDINGS INC. TABLE OF CONTENTS ITEM 1. Letter to Shareholders regarding Annual General Shareholders’ Meeting 2. Notice of 2024 Annual General Shareholders’ Meeting to be held on April 26, 2024 3. Proxy Card SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Arcos Dorados Holdings Inc. By: /s/ Juan David Bastidas Name: Juan David Bastidas Title: Chief Legal Counsel Date: April 9, 2024 Item 1 To Our Valued Shareholders: I am very pleased to report that Arcos Dorados generated its best ever financial results in 2023, all while operating responsibly and supporting the communities we serve. The Three D’s Strategy of Digital, Delivery and Drive-thru, together with the largest free-standing restaurant portfolio in the region, remained the driving force of our consolidated results. An important indicator of our success was the expansion of McDonald’s Brand market share in Latin America and the Caribbean, where we have two, three and even four times the market share of our nearest local competitors. The penetration of Digital channels is expanding throughout our footprint as well, with (i) a mobile app that works as an e-commerce platform to offer incentives and convenience to increase guest loyalty and visit frequency, (ii) a Delivery sales channel that continues to grow strongly in a segment where we are clearly the industry leaders, and (iii) self-order kiosks capturing an increasing share of on-premise orders, with about 60% of Arcos Dorados’ restaurants already modernized to the Experience of the Future (EOTF) format. We remain steadfast in our commitment to support the local communities and economies where we operate. Our Recipe for the Future ESG (Environmental, Social and Governance) platform continues to evolve, setting the benchmark in our industry and region, and we continue to focus on generating youth opportunity, mitigating climate change, increasing sustainable sourcing, promoting a circular economy, maintaining our commitment to families, and increasing diversity & inclusion inside and outside of our company. Arcos Dorados’ Social Impact and Sustainable Development Report for 2023, which we will publish in the coming weeks, is the global restaurant industry’s only ESG report containing audited content. In it, you will learn why we are so proud of the progress we made in advancing each of our initiatives last year. The sustainability of our business, and the resources we deploy to support these initiatives, begin with the revenue we generate each year. Consolidated revenue in 2023 surpassed $4.3 billion, the highest-ever US dollar total for Arcos Dorados. Revenue growth was driven by 34.6% higher consolidated systemwide comparable sales in 2023, which was about 1.3x blended inflation for the period and included strong growth across all three divisions. Our strategy to increase guest traffic by delivering the best value in the quick service restaurant (QSR) industry also generated mid to high single digit comparable transaction volume growth in each division last year. We firmly believe McDonald’s is a destination for guests in our region, representing an aspirational brand and experience for many. Nearly 60% of sales in 2023 were generated inside our restaurants supported by the growing penetration of self-order kiosks, the localization of flavors in our Dessert Centers and a renewed focus on driving McCafé sales to capture a bigger piece of the region’s immense coffee market. Notably, on-premise sales in our free-standing restaurants surpassed pre-pandemic levels in 2023, demonstrating the continued popularity of the McDonald’s restaurant experience among consumers. Delivery and Drive-thru grew strongly again in 2023, generating more than 40% of systemwide sales. Both leveraged the structural competitive advantage we enjoy with the region’s largest free-standing restaurant portfolio and each channel has a dedicated team at the restaurant level to ensure the best execution possible and increase guest volume in these highly accretive channels. Finally, Digital channels delivered more than half of systemwide sales last year. We expect Di

View Full Filing

View this 6-K filing on SEC EDGAR