El Pollo Loco Q1 2020 Earnings Report
Key Takeaways
El Pollo Loco's Q1 2020 total revenue reached $105.2 million, with a net income of $3.6 million, or $0.10 per diluted share. The company experienced a system-wide comparable restaurant sales decrease of 1.5% due to the COVID-19 pandemic, but has refocused its business on drive-thru, take-out, delivery, e-commerce, and mobile pickup channels. The company has bolstered its cash position by fully drawing down its $150 million revolver.
Total revenue was $105.2 million compared to $109.0 million.
System-wide comparable restaurant sales decreased 1.5%, including a 0.7% decrease for company-operated restaurants, and a 2.2% decrease for franchised restaurants.
Net income was $3.6 million, or $0.10 per diluted share, compared to net income of $0.9 million, or $0.02 per diluted share in the prior year period.
The Company bolstered its existing cash position by fully drawing down its $150 million 2018 Revolver, adding $34.5 million of cash to the balance sheet.
El Pollo Loco
El Pollo Loco
El Pollo Loco Revenue by Segment
Forward Guidance
Due to the ongoing uncertainty around the duration and severity of the COVID-19 pandemic, the Company has withdrawn its 2020 financial guidance for the period ending December 30, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income