Arcos Dorados (ARCO) to Post Q3 Earnings: What's in Store?
Arcos Dorados Holdings Inc. ARCO is scheduled to report third-quarter 2023 results on Nov 16. In the last reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate.
Q3 Estimates
The Zacks Consensus Estimate for earnings is pegged at 20 cents per share, down 13% year over year. In the past 60 days, earnings estimate for the current quarter has remained stable. The consensus mark for revenues is pegged at $1.07 billion, up 16.9% year over year.
Factors to Note
Arcos Dorados third-quarter 2023 top line is likely to have benefited from a rise in comparable sales across its systems, guest traffic growth, successful launch of new restaurants, and a substantial increase in on-premise sales. Robust digital sales are anticipated to propel ARCO's quarterly results.
However, the company’s performance is likely to have been hurt by an inflationary environment, higher Food & Paper costs and payroll expenses.
Arcos Dorados Holdings Inc. Price and EPS Surprise
Arcos Dorados Holdings Inc. price-eps-surprise | Arcos Dorados Holdings Inc. Quote
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Arcos Dorados this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Arcos Dorados has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Arcos Dorados carries a Zacks Rank #3.
Stocks With Favorable Combination
Here we present a few stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season.
Costco COST currently has an Earnings ESP of +4.26% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter fiscal 2024 earnings per share (EPS) of $3.43 suggests a rise of 10.7% from a year ago. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for revenues is pegged at $57.69 billion, hinting at an increase of 6% from the prior-year quarter. COST has a trailing four-quarter earnings surprise of 2.1%, on average.
Ross Stores ROST currently has an Earnings ESP of +2.08% and a Zacks Rank #2. The Zacks Consensus Estimate for third-quarter fiscal 2023 EPS of $1.21 indicates 21% growth from the year-ago levels.
The consensus mark for revenues is pegged at $4.83 billion, implying a 5.8% jump from the prior-year figure. ROST has a trailing four-quarter earnings surprise of 11.4%, on average.
Walmart WMT currently has an Earnings ESP of +0.63% and carries a Zacks Rank #2. The Zacks Consensus Estimate for third-quarter fiscal 2024 EPS of $1.51 suggests a 0.7% gain from the year-ago quarter.
The consensus estimate for revenues is pegged at $159.2 billion, which indicates a climb of 4.2% from the prior-year number. WMT has a trailing four-quarter earnings surprise of 11.6%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Walmart Inc. (WMT) : Free Stock Analysis Report
Costco Wholesale Corporation (COST) : Free Stock Analysis Report
Ross Stores, Inc. (ROST) : Free Stock Analysis Report
Arcos Dorados Holdings Inc. (ARCO) : Free Stock Analysis Report
