El Pollo Loco Q4 2023 Earnings Report
Key Takeaways
El Pollo Loco Holdings, Inc. reported a decrease in total revenue to $112.2 million compared to $115.9 million in Q4 2022. Net income also decreased to $4.4 million, or $0.14 per diluted share, from $6.5 million, or $0.18 per diluted share, in the prior year. However, system-wide comparable restaurant sales increased by 0.9%. The company's restaurant contribution was $14.8 million, representing 15.8% of company-operated restaurant revenue.
Total revenue decreased to $112.2 million from $115.9 million.
System-wide comparable restaurant sales increased by 0.9%.
Net income decreased to $4.4 million, or $0.14 per diluted share, from $6.5 million, or $0.18 per diluted share.
Adjusted EBITDA increased to $13.6 million from $13.3 million.
El Pollo Loco
El Pollo Loco
El Pollo Loco Revenue by Segment
Forward Guidance
The Company is providing the following expectations for the remainder of 2024:
Positive Outlook
- The opening of two new company-owned restaurants
- The opening of five to seven new franchised restaurants.
Challenges Ahead
- Capital spend of $25.0 - $28.0 million.
- G&A expense between $45.0 and $47.0 million.
- Adjusted income tax rate of 27.0 – 28.0%.