El Pollo Loco reports Q1 adjusted EPS 19c, consensus 19c

Reports Q1 revenue $119.18M, consensus $118.2M. System-wide comparable restaurant sales decreased by 0.6%. Liz Williams, CEO of El Pollo Loco (LOCO) Holdings, Inc., stated, “Our first quarter results fell short of our expectations on sales and store level profit. Despite the challenges we faced with the dynamic consumer environment, we delivered proof points that reinforce our belief in the brand’s long-term opportunity. From showing that menu innovation can drive trial of the brand through the launch of Mango Habanero, to identifying opportunities to further improve operational execution in our restaurants, we are proud of our accomplishments and believe we still have tremendous upside. Looking ahead, our focus remains squarely on executing the multitude of initiatives that we have in place to drive our brand forward.”