El Pollo Loco Q3 2023 Earnings Report
Key Takeaways
El Pollo Loco Holdings, Inc. reported financial results for the third quarter of 2023, with total revenue increasing to $120.4 million compared to $119.9 million in the same period last year. System-wide comparable restaurant sales increased by 0.8%, and net income rose to $9.2 million, or $0.28 per diluted share, compared to $5.0 million, or $0.14 per diluted share, in the third quarter of 2022.
Total revenue increased to $120.4 million from $119.9 million year-over-year.
System-wide comparable restaurant sales increased by 0.8%.
Net income increased to $9.2 million, or $0.28 per diluted share, from $5.0 million, or $0.14 per diluted share, year-over-year.
The company approved a new $20 million share repurchase program.
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 2023:
Positive Outlook
- The opening of two new company-owned restaurants
- The opening of three to four new franchised restaurants.
Challenges Ahead
- Capital spend of $22.0 - $24.0 million.
- G&A expense between $41.0 and $43.0 million.
- Adjusted income tax rate of 26.5 – 27.5%.