COSTA MESA, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- El Pollo Loco, Inc. ("El Pollo Loco" or "Company") (NASDAQ:LOCO), the nation's leading restaurant chain specializing in fire-grilled chicken, is bringing back two fan-favorite seasonal Stuffed Quesadilla flavors to join the menu for a limited time, alongside the permanent Chicken Avocado Stuffed Quesadilla. These Stuffed Quesadillas make the perfect on-the-go meal with their unique blend of mouthwatering flavors, savory toppings, and melty cheese. The cha ...

Key PointsEl Pollo Loco is a quick-service restaurant chain serving fresh, never-frozen flame-grilled citrus-marinated Mexican chicken meals, mostly in California, with nearly 500 restaurants.System-wide comparable restaurant sales rose 5.1% in Q1 2024 as income rose to $9.7 million compared to $7.8 million in the year-ago period.El Pollo Loco's new CEO is Elizabeth Williams, formerly president of Taco Bell, started in March 2024 and plans to make El Pollo Loco a national brand.5 stocks we like better than ...

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Financial Data and Key Metrics Changes - Total revenue increased by 1.4% to $116.2 million compared to $114.5 million in Q1 2023 [19] - Company-operated restaurant revenue decreased by 0.7% to $97.2 million from $97.9 million in the same period last year [19] - Franchise revenue increased by 17.3% to $11.3 million, driven by a 5.9% increase in franchise comparable restaurant sales [20] - GAAP net income was $5.9 million or $0.19 per diluted share, compared to $4.9 million or $0.13 per diluted share in the prior year [24] - Adjusted net income for the quarter was $6.8 million or $0.22 per diluted share compared to $4.9 million or $0.14 per diluted share in the first quarter of last year [24] Business Line Data and Key Metrics Changes - Company-operated comparable restaurant sales increased by 3.8%, with a 2.6% increase in average check size and approximately 1.2% increase in transactions [20] - Restaurant contribution margin for Q1 was 17.6%, compared to 15% in the year-ago period [23] Market Data and Key Metrics Changes - System-wide comparable store sales increased by 5.3% through April 24, 2024, consisting of a 3.7% increase in company-operated restaurants and a 6.3% increase in franchise restaurants [21] - Food and paper costs as a percentage of company restaurant sales decreased by 110 basis points year-over-year to 26.4% [21] - Labor and related expenses as a percentage of company restaurant sales decreased by 70 basis points year-over-year to 31.5% [22] Company Strategy and Development Direction - The company is focusing on five strategic pillars: brand leadership, hospitality mindset, digital-first approach, winning unit economics, and driving unit growth [8][10] - Emphasis on enhancing brand positioning by promoting key differentiators such as citrus-marinated fire-grilled chicken and healthier menu options [9] - Plans to modernize store designs and reduce build costs to facilitate franchise growth [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the brand's potential and the quality of its food offerings, highlighting strong consumer perceptions [36][37] - The company is closely monitoring labor and commodity inflation, with expectations of wage inflation between 12% to 14% for the full year 2024 [22] - Management is focused on improving operational efficiencies and identifying additional savings across the P&L [23] Other Important Information - The company completed three company-operated restaurant remodels and 11 franchise restaurant remodels during the first quarter [24] - Liquidity position remains strong with $80 million of debt outstanding and $9.1 million in cash and cash equivalents as of March 27, 2024 [25] Q&A Session Summary Question: Insights on restaurant-level operating margin drivers - Management indicated that price increases and operational efficiencies contributed to the 260 basis points increase in operating margin, with specific pricing actions taken in preparation for minimum wage increases [30][31] Question: Performance across different income cohorts - Management noted that the brand serves well across various income cohorts and did not experience outsized effects from any specific group, emphasizing the need for continued focus on value [32][33] Question: Impressions from the first few months as CEO - The new CEO highlighted the quality of food and strong consumer perceptions as positive surprises, while identifying opportunities for improvement in customization and operational efficiency [36][37] Question: Consumer behavior in response to price increases - Management acknowledged that while sales have held up well, there has been some pressure on transactions following price increases, but they remain comfortable with their pricing strategy [40] Question: Steps for accelerated development and cost engineering - The CEO mentioned that significant work is needed in the coming months to improve cost engineering and that positive feedback has been received from franchise partners regarding new development incentives [43][44] Question: Balancing value versus premium offerings - The CEO emphasized the importance of providing everyday value while also innovating within the premium segment, with ongoing tests for updated recipes and price points [46]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 27, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36556 EL POLLO LOCO HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 20-3563182 ...

Exhibit 99.1 El Pollo Loco Holdings, Inc. Announces First Quarter 2024 Financial Results COSTA MESA, CA – May 2, 2024 – El Pollo Loco Holdings, Inc. (Nasdaq: LOCO) today announced financial results for the 13-week period ended March 27, 2024. Highlights for the first quarter ended March 27, 2024 compared to the first quarter ended March 29, 2023 were as follows: ● Total revenue was $116.2 million compared to $114.5 million. ● System-wide comparable restaurant sales (1) increased by 5.1%. ● Income from opera ...

LOS ANGELES, April 09, 2024 (GLOBE NEWSWIRE) -- El Pollo Loco, Inc. ("El Pollo Loco" or "Company") (NASDAQ:LOCO), the nation's leading restaurant chain specializing in fire-grilled chicken, joined forces with creative visionary and entrepreneur LaLa Romero to host an exclusive event on April 4th in honor of Women's History Month. The event celebrated the achievements of a select group of women within the organization and its broader communities who have relentlessly pursued their passions. The honorees incl ...

El Pollo Loco Holdings, Inc. (LOCO) reported fourth-quarter fiscal 2023 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. The top declined from the prior-year quarter’s levels, while the bottom line remained flat year over year.Earnings & Revenue DiscussionDuring the fiscal fourth quarter, the company’s adjusted earnings per share (EPS) were in line with the Zacks Consensus Estimate of 16 cents. The figure matched the prior-year quarter’s levels.Quarterly revenues of ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2023 decreased by 3.2% to $112.2 million compared to $115.9 million in Q4 2022 [16] - Company-operated restaurant revenue decreased by 5.7% to $94 million from $99.6 million in the same period last year [16] - GAAP net income for Q4 was $4.4 million or $0.14 per diluted share, down from $6.5 million or $0.18 per diluted share in the prior year [20] - Adjusted net income for Q4 was $5.2 million or $0.16 per diluted share, compared to $6 million or $0.16 per diluted share in the same quarter last year [20] Business Line Data and Key Metrics Changes - Franchise revenue increased by 17% to $11 million during Q4, driven by a 1.6% increase in franchise comparable restaurant sales and five new franchise openings [17] - The decrease in comparable restaurant sales included a 0.4% decrease in average check size, offset by a 0.2% increase in transactions [16] Market Data and Key Metrics Changes - For Q1 2024, system-wide comparable store sales increased by 3.8%, consisting of a 2.2% increase in company-operated restaurants and a 4.7% increase in franchise restaurants [17] Company Strategy and Development Direction - The company aims to focus on five operational pillars, including attracting and retaining talent, emphasizing their fire-grilled chicken, enhancing digital services, ensuring operational consistency, and improving economic fundamentals with franchisees [7][8][10][14] - The company plans to remodel 15 to 20 company-owned restaurants and 40 to 50 franchise restaurants in 2024 to enhance customer experience [14][21] Management's Comments on Operating Environment and Future Outlook - Management noted that they are working to offset wage increases in California through operational efficiencies and price adjustments, expecting to offset one-third to half of the wage increase impact [30][31] - The company is seeing pressure on consumer spending, with customers managing their check sizes and trading down, but they are also focusing on providing value [33][34] Other Important Information - The company has a new share repurchase program authorized for up to $20 million through March 31, 2025, with $7.4 million remaining under the authorization [22] - The company expects capital spending between $25 million and $28 million for 2024 [23] Q&A Session Summary Question: Development guidance and remodel expectations - Management indicated that they are seeing good sales momentum from remodels and are actively recruiting more franchisees to accelerate development [26][27] Question: Strategy to offset wage increases - Management discussed their operational initiatives to offset wage increases and shared insights on the efficiency of kiosks and salsa processing equipment [28][30] Question: Consumer environment and value strategy - Management noted that while consumers are under pressure, they are testing ways to offer more value across the menu to meet consumer demand [32][35] Question: P&L and commodity costs - Management explained that there was no specific item driving higher food and packaging costs, and they are pleased with the performance of their new locations in Colorado [36][37] Question: Cadence of limited-time offers (LTOs) - Management stated that they will reduce LTOs from six to five in 2024 due to positive consumer reception of certain items [38][39]