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El Pollo Loco Holdings, Inc. Announces Fourth Quarter 2024 Financial Results
LOCOEl Pollo Loco(LOCO) GlobeNewswire·2025-03-06 21:05

Core Insights - El Pollo Loco Holdings, Inc. reported financial results for the 13- and 52-week periods ended December 25, 2024, highlighting a foundational year with significant progress and a positive outlook for 2025 [4][5]. Financial Performance - Company-operated restaurant revenue for Q4 2024 increased to 95.6million,upfrom95.6 million, up from 94.0 million in Q4 2023, driven by a 1.5millionincreaseincomparablerestaurantrevenue(1.61.5 million increase in comparable restaurant revenue (1.6%) and 0.5 million from new restaurant openings [5][9]. - Franchise revenue rose by 2.5% to 11.2million,attributedtotheopeningoffourfranchise−operatedrestaurantsandthesaleofonecompany−operatedrestauranttofranchisees[6].−TotalrevenueforQ42024was11.2 million, attributed to the opening of four franchise-operated restaurants and the sale of one company-operated restaurant to franchisees [6]. - Total revenue for Q4 2024 was 114.3 million, compared to 112.2millioninQ42023,withsystem−widecomparablerestaurantsalesincreasingby0.5112.2 million in Q4 2023, with system-wide comparable restaurant sales increasing by 0.5% [9]. - Net income for Q4 2024 was 6.0 million (0.20perdilutedshare),comparedto0.20 per diluted share), compared to 4.4 million (0.14perdilutedshare)inQ42023[10][9].−AdjustedEBITDAforQ42024was0.14 per diluted share) in Q4 2023 [10][9]. - Adjusted EBITDA for Q4 2024 was 14.3 million, an increase from 13.6millioninthepreviousyear[9].OperationalMetrics−IncomefromoperationsinQ42024was13.6 million in the previous year [9]. Operational Metrics - Income from operations in Q4 2024 was 9.0 million, up from 7.5millioninQ42023,withrestaurantcontributionat7.5 million in Q4 2023, with restaurant contribution at 16.0 million (16.7% of company-operated restaurant revenue) compared to 14.8million(15.814.8 million (15.8%) in the prior year [7][9]. - General and administrative expenses increased to 11.1 million in Q4 2024 from 10.6millioninQ42023,primarilyduetohigherlabor−relatedcosts[8].DebtandShareholderActions−AsofDecember25,2024,thecompanyhadanoutstandingdebtbalanceof10.6 million in Q4 2023, primarily due to higher labor-related costs [8]. Debt and Shareholder Actions - As of December 25, 2024, the company had an outstanding debt balance of 71.0 million, with 2.5millionincashandcashequivalents.Thecompanyrepurchased103,702sharesforapproximately2.5 million in cash and cash equivalents. The company repurchased 103,702 shares for approximately 1.3 million during the fourth quarter [11]. Future Outlook - The company anticipates opening one to two new company-operated restaurants and eight to nine new franchised restaurants in 2025, with capital spending projected between 30.0millionand30.0 million and 34.0 million [16].