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Sep 27, 2023
El Pollo Loco Q3 2023 Earnings Report
El Pollo Loco's Q3 2023 performance was marked by increased total revenue, system-wide comparable restaurant sales, income from operations, and net income, as well as the approval of a new $20 million share repurchase program.
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
Revenue by Segment
Franchise Revenue
CapyFin.com 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%.