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COSTA MESA, Calif. - El Pollo Loco Holdings, Inc. (NASDAQ:LOCO), a leading fire-grilled chicken restaurant chain with a market capitalization of $328 million, announced the appointment of Joe Taylor as an independent director to its Board of Directors, effective today. Taylor, who will also serve on the Audit Committee, fills the new eighth seat on the board, expanded from seven.
Joe Taylor brings extensive experience to the table, having recently retired as the executive vice president and chief financial officer of Brinker International (NYSE:EAT), Inc. With a career spanning 25 years at Brinker, Taylor played key roles across various functions including finance, investor relations, and restaurant development. His prior 18 years in banking further solidify his financial and corporate expertise. According to InvestingPro data, this appointment comes as the company maintains profitability with a P/E ratio of 13.9 and annual revenue of $471 million.
William Floyd, Chairperson of El Pollo Loco's Board, expressed confidence in Taylor's appointment, citing his deep industry knowledge and leadership as valuable assets for the company's growth trajectory.
El Pollo Loco, known for its healthier, Mexican-inspired offerings, has been recognized as the #1 Best Restaurant for Quick, Healthy Food by USA TODAY's 10 Best Readers' Choice Awards. With over 495 company-owned and franchised outlets across seven U.S. states and additional licensed locations in the Philippines, the brand emphasizes inclusivity and quality in its operations and workplace culture.
This announcement comes amidst the company's forward-looking statements on growth and franchise development, tempered by the caution that such projections are subject to various market and economic risks. InvestingPro subscribers have access to additional insights through 6+ exclusive ProTips and comprehensive financial analysis, including detailed assessments of El Pollo Loco's liquidity position and growth metrics.
The information in this article is based on a press release statement from El Pollo Loco Holdings, Inc.
In other recent news, El Pollo Loco reported a steady financial performance in its third-quarter earnings of 2024, with total revenue maintaining at $120.4 million. Despite some shifts in company-operated and franchise sales, the firm managed to increase system-wide comparable sales by 2.7%, and improved restaurant-level margins to 16.7%. El Pollo Loco also introduced new value offerings and is raising its margin expectations for 2024 to between 16.75% and 17.25%.
The company plans to open at least 10 new restaurants in 2025, leveraging franchise partnerships to convert closed QSR locations. Franchise revenue increased by 10.5% to $11.3 million, while company-operated restaurant revenue saw a slight decrease of 1.5%. Debt was reduced to $71 million, with capital spending projected between $21 million to $23 million.
These recent developments underline El Pollo Loco's commitment to growth and modernization, including a two-tiered remodel strategy targeting approximately half of its system over the next four years. The company anticipates a mid-single-digit sales increase post-remodel for nearly half the franchise system over the next two years and expects to achieve approximately 18% margins by 2025.
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