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Mar 29, 2023
El Pollo Loco Q1 2023 Earnings Report
El Pollo Loco's financial performance improved significantly in the first quarter of 2023, driven by increased revenue and improved restaurant-level margins.
Key Takeaways
El Pollo Loco Holdings, Inc. reported a strong start to 2023, with total revenue increasing to $114.5 million and net income rising to $4.9 million. The company's focus on restaurant-level operating controls and strategic initiatives contributed to improved financial results.
Total revenue increased to $114.5 million compared to $110.0 million.
System-wide comparable restaurant sales increased 0.8%.
Net income was $4.9 million, or $0.13 per diluted share, compared to net income of $2.1 million, or $0.06 per diluted share.
Restaurant contribution was $14.7 million, or 15.0% of company-operated restaurant revenue, compared to $9.7 million, or 10.3% of company-operated restaurant revenue.
Revenue by Segment
Forward Guidance
El Pollo Loco provided the following expectations for 2023, including new restaurant openings, capital spend, G&A expense, and adjusted income tax rate.
Positive Outlook
- The opening of three to five new company-owned restaurants
- The opening of six to nine new franchised restaurants.
- Capital spend of $25.0 - $29.0 million.
- G&A expense between $42.0 and $45.0 million, inclusive of one-time costs of approximately $1.4 million primarily related to the reorganization and recent share distribution.
- Adjusted income tax rate of 26.5 – 27.5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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