Welcome to our dedicated page for El Pollo Loco Holdings news (Ticker: LOCO), a resource for investors and traders seeking the latest updates and insights on El Pollo Loco Holdings stock.
El Pollo Loco Holdings, Inc. (NASDAQ: LOCO) operates and franchises over 460 fast-casual chicken restaurants across the United States, primarily located in Arizona, California, Nevada, Texas, and Utah. Founded in 1980 in Los Angeles, the company has built a strong reputation for its fresh, authentic Mexican-inspired cuisine. The core of El Pollo Loco's menu revolves around its signature fire-grilled chicken, marinated in a unique blend of herbs, spices, fruit juices, and garlic, then grilled on open-flame grills and hand-cut for a variety of dishes.
In addition to their iconic chicken dishes, El Pollo Loco offers a range of freshly made sides, including guacamole, salsas, and dressings, all prepared daily. Their commitment to quality and authenticity has made the company a beloved brand in the fast-casual dining segment.
The company continues to grow, with a mix of company-owned and franchised locations. El Pollo Loco's strategic expansion plans include entering new markets and strengthening their presence in existing ones through franchise development. Notably, the company has been proactive in managing commodity price risks by using multiple poultry suppliers and entering into varied-length supply contracts.
Financially, El Pollo Loco has shown resilience and adaptability amidst economic fluctuations. Recent achievements include a robust share repurchase program, with approximately $59 million repurchased in 2023 and an additional $7.4 million authorized through March 31, 2025. This move underscores the company's confidence in its operations and dedication to stockholder value.
El Pollo Loco is also committed to innovation and customer engagement through digital channels, including online ordering and delivery services, which have seen significant growth. The company’s mission goes beyond serving food; it aims to foster community connections and celebrate cultural heritage through its offerings.
For further details and updates on El Pollo Loco's financial performance, strategic initiatives, and latest news, visit their official website or the investors' section for comprehensive reports and press releases.
El Pollo Loco launched a customer round-up campaign on November 3, 2022, partnering with Feeding America to combat hunger. The campaign aims to raise a minimum of $150,000, with a goal of $400,000, helping to provide 4 million meals to families in need. El Pollo Loco Charities will match the first 100,000 customer round-ups. This initiative runs until June 30, 2023, with 90% of donations allocated to local food banks. The company's CEO expressed commitment to ending hunger through strategic partnerships.
El Pollo Loco Holdings, Inc. (Nasdaq: LOCO) reported third-quarter financial results for the period ending September 28, 2022. Total revenue reached $119.9 million, up from $115.7 million year-over-year. However, net income fell to $5.0 million or $0.14 per diluted share, compared to $10.2 million or $0.28 per diluted share in Q3 2021. Income from operations dropped to $6.9 million from $14.2 million. Despite a 3.8% increase in comparable restaurant sales, inflation and rising costs negatively impacted margins. The company also announced a special dividend of $1.50 per share.
El Pollo Loco (Nasdaq: LOCO) announced the launch of new Overstuffed Quesadillas, enhancing its menu with three flavorful options including Chipotle Chicken, Shredded Beef Avocado, and Poblano Chicken. These quesadillas are designed for convenient on-the-go eating, ensuring quality and flavor. The limited-time offer is available at locations nationwide until December 28, 2022. This initiative follows the successful introduction of Shredded Beef Birria earlier this year, reflecting the company's commitment to innovating its menu with bold flavors.
El Pollo Loco (Nasdaq: LOCO) announced the appointment of Maria Hollandsworth as Chief Operating Officer, effective October 31, 2022. With over 30 years in the restaurant industry, Hollandsworth brings extensive leadership experience from her previous roles, including Regional Vice President of Operations at Dunkin' and Vice President at Jack in the Box. CEO Larry Roberts emphasized her expertise in operational excellence and franchisee relations, which are expected to aid in the brand's growth strategy.
El Pollo Loco Holdings, Inc. (NASDAQ: LOCO) will host a conference call on November 3, 2022, at 4:30 PM ET to review its third quarter 2022 financial results. CEO Larry Roberts and CFO Ira Fils will lead the discussion. A press release detailing the financial results will be published after market close on the same day. Interested parties can join the call by dialing 201-493-6780 or can access a replay until November 17, 2022. The call will also be available via webcast on the investor section of the company's website.
El Pollo Loco (Nasdaq: LOCO) announced a special dividend of $1.50 per share, payable on November 9, 2022, to shareholders of record by October 24, 2022. The Board also launched a new share repurchase program, authorizing up to $20 million for share buybacks effective immediately, with a termination date of March 28, 2024. Chairman Michael Maselli highlighted the company's low leverage and expected positive cash flow as reasons for returning capital to shareholders, emphasizing their commitment to stockholder value creation.
El Pollo Loco (Nasdaq: LOCO) has announced a multi-unit development deal for five new restaurants in Northern California and Southern Oregon, signed with Bunch of Pollo, Inc.. The first location is expected to open in early 2023. This expansion is part of the company's broader goal to add 140 restaurants nationwide through existing and new franchisees. The new outlets will feature a modern design with enhanced digital services to support off-premise dining. El Pollo Loco aims to strengthen its market presence while offering healthier fast-food options.
El Pollo Loco (Nasdaq: LOCO) announced a multi-unit agreement to develop four restaurants in the Seattle metro area, specifically targeting Pierce and King County. Franchisee Jean-Paul Pirio, an experienced restaurateur, plans to introduce local customers to the chain's signature offerings. The new locations will feature a prototype design emphasizing off-premise dining, including a drive-thru and curbside pickup. El Pollo Loco is actively seeking additional franchise partners for expansion in the Pacific Northwest and other U.S. markets.
El Pollo Loco introduces the new $5 Fire-Grilled Shredded Chicken Quesadilla Combo, available system-wide until November 2, 2022. This combo features shredded chicken, cheese, and salsa in a flour tortilla, accompanied by a drink and tortilla chips. The restaurant is enhancing its value menu with offerings starting at $5, alongside Family Feasts starting at $24. These initiatives aim to cater to customers' needs for convenience and quality as they transition into the back-to-school season.
El Pollo Loco Holdings (LOCO) reported Q2 2022 revenue of $124.1 million, up from $122.0 million YoY. System-wide comparable restaurant sales increased by 7.5%.
However, income from operations fell to $10.4 million from $12.7 million in Q2 2021. Restaurant contribution dropped to 15.0% of revenue, down from 20.8%, influenced by inflation and rising costs. Net income was $7.1 million ($0.20 per diluted share), a decrease from $8.8 million ($0.24) a year earlier.
The company is opening 3-6 new company-owned restaurants in 2022.
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