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Arcos Dorados Holdings Q2 profit climbs YOY

Arcos Dorados Holdings Inc. said its second-quarter normalized net income came to $36.1 million, a gain from $297,130 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 5.3% from 0.0% in the year-earlier period.

Total revenue fell 9.4% year over year to $687.3 million from $759.0 million, and total operating expenses declined 16.3% year over year to $623.5 million from $745.1 million.

Reported net income increased year over year to $42.1 million, or 20 cents per share, from $6.3 million, or 3 cents per share.