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    Marisa Hernandez

    Director and Senior Research Analyst on the International equity team at TimesSquare Capital

    Marisa Hernandez is a Director and Senior Research Analyst on the International equity team at TimesSquare Capital Management, where she specializes in covering Developed, Emerging, and Frontier markets with a global focus on the Materials, Industrials, Technology, and Alternative Energy sectors. Throughout her career, Hernandez has analyzed and invested in companies across the market capitalization spectrum and has a strong record of performance, including co-managing the Research Opportunity fund and the Natural Resources portfolio at Neuberger Berman. She began her career at UBS covering U.S. and Latin America equities, then served in senior roles at BigSur Partners and Sidoti & Company before joining TimesSquare in 2022. Hernandez holds an M.B.A. from MIT Sloan, a Civil Engineering degree from the University of Uruguay, and is a CFA charterholder.

    Marisa Hernandez's questions to Arcos Dorados Holdings (ARCO) leadership

    Marisa Hernandez's questions to Arcos Dorados Holdings (ARCO) leadership • Q1 2025

    Question

    Marisa Hernandez requested clarification on the full-year 2025 EBITDA margin outlook and commented on the sales deceleration in NOLAD and Brazil, asking about the underlying consumption trends.

    Answer

    CFO Mariano Tannenbaum clarified that the company expects the full-year 2025 consolidated EBITDA margin to be similar to 2024's, excluding the prior year's one-time payroll credits in Brazil. CEO Marcelo Rabach attributed the Q1 sales slowdown to calendar effects and a volatile consumer environment but noted that trends are improving and the company is focused on protecting traffic.

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