Revenue during the quarter grew 18.67 percent to $781.48 million from $658.51 million in the previous year period. Gross margin for the quarter expanded 135 basis points over the previous year period to 17 percent. Total expenses were 88.57 percent of quarterly revenues, down from 96.63 percent for the same period last year. This has led to an improvement of 806 basis points in operating margin to 11.43 percent.

Operating income for the quarter was $89.33 million, compared with $22.18 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $62.68 million compared with $48.21 million in the prior year period. At the same time, adjusted EBITDA margin improved 70 basis points in the quarter to 8.02 percent from 7.32 percent in the last year period.

"We achieved strong revenue growth and EBITDA margin expansion in the first quarter, alongside early progress on key initiatives from our strategic plan. Our strategy of leveraging McDonald's core assets to expand volumes, reinvesting in our restaurants and enhancing operational excellence drove improved customer satisfaction together with topline growth. We solidified our capital structure with the completion of our tender offer and issuance of our 2027 Notes. This, along with the operational efficiencies we have built into our system, positions us to capitalize on improvements in our markets as we transition from a turnaround mindset to a growth strategy," said Sergio Alonso, chief executive officer of Arcos Dorados.