- El Pollo Loco beats 1Q profit forecasts
COSTA MESA, Calif. (AP) _ El Pollo Loco Holdings Inc. (LOCO) on Thursday reported first-quarter earnings of $4.9 million.
On a per-share basis, the Costa Mesa, California-based company said it had profit of 12 cents. Earnings, adjusted for non-recurring costs, came to 16 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The Tex-Mex fast food chain posted revenue of $99.8 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $100 million.
El Pollo Loco expects full-year earnings in the range of 65 cents to 69 cents per share.
El Pollo Loco shares have climbed nearly 2 percent since the beginning of the year. The stock has declined nearly 7 percent in the last 12 months.
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