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Mar 27, 2024
El Pollo Loco Q1 2024 Earnings Report
El Pollo Loco's financial performance improved in Q1 2024 with increased revenue and net income.
Key Takeaways
El Pollo Loco Holdings, Inc. reported increased total revenue to $116.2 million and net income to $5.9 million for the first quarter ended March 27, 2024. System-wide comparable restaurant sales increased by 5.1%. The company is focused on strategic pillars for future growth.
Total revenue increased to $116.2 million from $114.5 million.
System-wide comparable restaurant sales increased by 5.1%.
Net income rose to $5.9 million, or $0.19 per diluted share, compared to $4.9 million, or $0.13 per diluted share.
Adjusted EBITDA increased to $15.7 million from $12.2 million.
El Pollo Loco
El Pollo Loco
El Pollo Loco Revenue by Segment
Forward Guidance
El Pollo Loco provided the following expectations for the remainder of 2024:
Positive Outlook
- Opening of two new company-owned restaurants.
- Opening of five to seven new franchised restaurants.
- Capital spend of $25.0 - $28.0 million.
Challenges Ahead
- G&A expense between $45.0 and $47.0 million excluding one-time charges.
- Adjusted income tax rate of 27.0 – 28.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income