El Pollo Loco Inc. (Nasdaq: LOCO) ended the year with sales and earnings growth as the chain now looks to ramp up growth in the coming years.
The company in 2020 completed a multi-year Transformation Agenda under CEO and President Bernard Acoca that focused on bolstering the brand and streamlining operations. It has now turned its attention to growth mode with the Transformation strategy complete.
The Costa Mesa-based grilled chicken chain said total revenue in its fiscal fourth quarter ended Dec. 30 was $110.3 million. That’s up 2.6% from the prior year and above consensus estimates of $107.7 million.
The company reported net income of $5.5 million, up from $3.5 million in the year-ago period and just below analyst average estimates of $5.9 million.
Shares of El Pollo Loco were down 3.6% to $18.93 on Friday for a market cap of $688.8 million.
The company said it plans to open between 3 and 5 new restaurants, with franchisees expected to open between 4 and 6 restaurants in the current year.
For more on El Pollo Loco’s Transformation Agenda, see the March 15 print edition of the Business Journal.