Momentum defined the beginning of the year before COVID-19 hit Costa Mesa-based El Pollo Loco Holdings Inc.’s (Nasdaq: LOCO) first quarter.
A slowdown hit the chain at the end of the period from in-restaurant dining closures as a result of the pandemic. Still, it managed to stave off steep declines by leveraging its drive-thru, takeout, mobile and delivery options.
El Pollo Loco reported total revenue down 3.4% to $105.2 million for the quarter ended March 25. That beat analyst expectations of $102.9 million.
The company reported net income of $3.6 million in the quarter, in line with analyst expectations and up from less than $1 million a year ago.
El Pollo Loco currently has 471 out of 478 locations operating, a mix of company-owned and franchised restaurants.
The company earlier withdrew guidance for the fiscal year as a result of the pandemic.
El Pollo Loco shares were trading up about 1% after-hours Thursday to a market cap of $429 million.
