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Saturday, Jul 2, 2022

Del Taco Revenue Up, Net Income Down

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Del Taco Restaurants Inc. (Nasdaq: TACO) in Lake Forest said revenue increased about 7% to $113 million and net income fell 24% to $3.2 million in its most recent quarter.

Shares in the fast food chain were down about 5% in after-hours trading to a $395 million market cap.

Margins were down a tick to 18.4% from 19.1%.

Same-stores sales system-wide grew 3.7% year-over-year—company-owned stores clocking up 2.6% and franchised ones growing 5.2%.

The chain has 566 locations, 55% of them company-owned.

It’s the fifth-largest OC-based restaurant operator with about $738 million in annual systemwide sales and 1,440 local workers. Systemwide sales are a higher number than revenue for franchised restaurant systems because it includes all dollars taken in, while revenue includes only amounts, typically franchise fees, that accrue to the company.

Del Taco reaffirmed guidance for the full year.

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