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Jun 28, 2023
El Pollo Loco Q2 2023 Earnings Report
El Pollo Loco's financial performance declined slightly due to decreased comparable restaurant sales, but restaurant contribution margin and adjusted EPS improved.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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