El Pollo Loco Q2 2023 Earnings Report
Key Takeaways
El Pollo Loco Holdings, Inc. reported a decrease in total revenue to $121.5 million compared to $124.1 million in the same quarter last year. System-wide comparable restaurant sales decreased by 3.4%. However, the company saw improvements in restaurant contribution, which was $17.6 million or 16.9% of company-operated restaurant revenue, compared to $15.9 million or 15.0% last year. Net income remained flat at $7.1 million, while adjusted net income increased to $8.0 million, or $0.23 per diluted share.
Total revenue decreased to $121.5 million from $124.1 million year-over-year.
System-wide comparable restaurant sales decreased by 3.4%.
Restaurant contribution improved to $17.6 million, representing 16.9% of company-operated restaurant revenue.
Adjusted net income increased to $8.0 million, or $0.23 per diluted share.
El Pollo Loco
El Pollo Loco
El Pollo Loco Revenue by Segment
Forward Guidance
El Pollo Loco provided the following expectations for 2023:
Positive Outlook
- Opening of two new company-owned restaurants.
- Opening of three to four new franchised restaurants.
- Capital spend of $22.0 - $25.0 million.
- G&A expense between $42.0 and $44.0 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%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income