El Pollo Loco Q3 2021 Earnings Report
Key Takeaways
El Pollo Loco Holdings, Inc. reported a revenue of $115.7 million, a system-wide comparable restaurant sales increase of 9.3%, and a net income of $10.2 million for the third quarter of 2021.
Total revenue was $115.7 million compared to $111.0 million.
System-wide comparable restaurant sales increased 9.3%.
Income from operations was $14.2 million compared to $12.2 million.
Net income was $10.2 million, or $0.28 per diluted share, compared to net income of $9.9 million, or $0.28 per diluted share.
El Pollo Loco
El Pollo Loco
El Pollo Loco Revenue by Segment
Forward Guidance
Due to the uncertainty surrounding the COVID-19 pandemic, the company is not yet providing a financial outlook for the year ending December 29, 2021, but is updating expectations for accelerating costs and development delays.
Challenges Ahead
- Accelerating commodity and labor costs will further pressure margins in the fourth quarter of 2021 relative to the third quarter of 2021.
- Due to permitting and equipment delivery delays, we are lowering our 2021 development expectations to two to three company-owned and one to three franchise new restaurant openings versus our previous guidance of three to five new company-owned restaurants and four to six new franchised restaurants.
- Pro forma income tax rate of 26.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income