El Pollo Loco reports Q3 adjusted EPS 27c, consensus 21c

Reports Q3 revenue $121.52M, consensus $123.41M. System-wide comparable restaurant sales decreased by 0.8%. Liz Williams, Chief Executive Officer of El Pollo Loco (LOCO) Holdings, Inc., stated, “Our third quarter results demonstrated the progress we are making across all aspects of our business. While our comparable store sales experienced a small decline, we are particularly pleased with our positive traffic growth during the quarter as we implemented targeted value and innovations that not only drove restaurant visits but also enhanced our brand equity. Our ongoing focus on operational excellence allowed us to deliver margin expansion at both the restaurant and corporate level. Our unit growth momentum continued with the opening of our 500th El Pollo Loco restaurant, and as we are building a pipeline that will almost double unit openings next year. As we look ahead, we remain laser-focused on executing against our five strategic pillars and continuing on our path of being the nation’s favorite fire-grilled chicken restaurant.”