Del Taco Restaurants Inc. (Nasdaq: TACO) in Lake Forest was down about 2% after missing quarterly earnings expectations.
The fast food chain reported $1.4 million in net income in its most recent quarter, or four cents a share, down 40% year-over-year. Analysts expected six cents a share. Revenue rose 1.5% to $114.2 million, which met expectations.
Same-store sales ticked down 0.1%, largely on a 5.5% decline in transactions. Adjusted EBITDA, a non-GAAP metric, declined 13%.
Del Taco reaffirmed full-year 2019 guidance of single-digit same-store sales growth and revenue of $517 million to $527 million. The average estimate of seven analysts is $517 million this year.
It has about 580 locations in 14 states and is the sixth-largest OC-based restaurant chain.