American fire-grilled chicken restaurant chain El Pollo Loco has reported a net income of $5.91m for the first quarter (Q1) of 2024, a jump of 20% compared to a net income of $4.91m a year previously.
For the quarter ended 27 March 2024, total revenue increased to $116.2m from $114.5m in the first quarter of 2023.
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During the quarter, El Pollo Loco’s income from operations rose to $9.7m from $7.8m a year previously.
El Pollo Loco’s EBITDA [adjusted earnings before taxation, interest, depreciation and amortisation for Q1 2024] was $15.7m versus $12.2m in the corresponding period of 2023.
The company’s system-wide comparable restaurant sales grew by 5.1% during the quarter.
In Q1 2024, the revenue from company-operated restaurants decreased to $97.2m from $97.9m a year earlier.
El Pollo Loco’s franchise revenue in the quarter increased 17.3% to $11.3m.
El Pollo Loco CEO Liz Williams said: “The strength of the El Pollo Loco brand centres around our signature product – fire-grilled, citrus-marinated chicken that is prepared fresh daily for our customers.
“Since starting as CEO almost two months ago, I have been impressed with the brand’s beloved status among customers and our long-term potential for growth. With our unique positioning at the intersection of the Chicken and Mexican categories, I believe that we can take El Pollo Loco to another level.”
