COSTA MESA, Calif., September 28, 2019 – Shares of El Pollo Loco Holdings Inc. (NASDAQ: LOCO) gained 0.18% to $10.93. The stock grabbed the investor’s attention and traded 324.390K shares as compared to its average daily volume of 425.80K shares. The stock’s institutional ownership stands at 96.50%.
El Pollo Loco Holdings, Inc. (LOCO) reported that company-operated restaurant revenue in the first quarter of 2019 increased 2.7% to $97.20M, contrast to $94.60M in the same period last year. The growth in company-operated restaurant revenue was mostly driven by a 1.5% increase in company-operated comparable sales and the eight new restaurants opened during and subsequent to the first quarter of 2018, partially offset by nine restaurant closures during the same time period.
Franchise revenue in the first quarter of 2019 increased 5.5% to $6.40M, contrast to $6.10M in the first quarter of 2018. This increase was mainly because of a boost of 3.2% in franchise comparable restaurant sales, the opening of 11 new franchised restaurants during or after the first quarter of 2018 and higher franchise fees received from franchised restaurants related to their use of our point-of-sales system. This was partially offset by the closure of three franchise locations during the same period.
Restaurant contribution was $17.20M or 17.7% of company-operated restaurant revenue, contrast to $17.70M, or 18.8% of company-operated restaurant revenue in the first quarter of 2018. The decrease was mostly because of higher labor and related expenses as a result of the impact of wage increases in California, and higher occupancy and related costs, partially offset by higher company-operated restaurant revenue because of price increases.
Net income for the first quarter of 2019 was $0.90M, or $0.02 per diluted share, contrast to net income of $2.50M, or $0.06 per diluted share in the first quarter of 2018. Pro forma net income was $5.90M or $0.15 per diluted share during the first quarter of 2019, contrast to $6.70M, or $0.17 per diluted share during the first quarter of 2018.
LOCO has a market value of $394.46M while its EPS was booked as $-0.04 in the last 12 months. The stock has 36.09M shares outstanding. In the profitability analysis, the company has gross profit margin of 48.80% while net profit margin was -0.40%. Beta value of the company was 0.59; beta is used to measure riskiness of the security.