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El Pollo Loco Holdings, Inc. (LOCO) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

El Pollo Loco Holdings, Inc.

HISTORY TOOLS
CIK: 1606366 Ticker: LOCO

Exhibit 99.1

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El Pollo Loco Holdings, Inc. Announces

First Quarter 2021 Financial Results

COSTA MESA, CA – May 6, 2021 –

El Pollo Loco Holdings, Inc. (Nasdaq: LOCO) today announced financial results for the 13-week period ended March 31, 2021.

Highlights for the first quarter ended March 31, 2021 compared to the first quarter ended March 25, 2020 were as follows:

●Total revenue was $107.7 million compared to $105.2 million.
●System-wide comparable restaurant sales(1) increased 7.4%, including a 3.3% increase for company-operated restaurants, and a 10.5% increase for franchised restaurants. System-wide comparable restaurant sales increased 5.9% compared to the same period in 2019.
●Income from operations was $6.0 million compared to $5.7 million in the prior year period. Restaurant contribution(1) was $15.2 million, or 16.1% of company-operated restaurant revenue, compared to $16.3 million, or 17.6% of company-operated restaurant revenue. Included in income from operations and restaurant contribution margin were approximately $2.8 million in COVID-19 related expenses.
●Net income was $4.0 million, or $0.11 per diluted share, compared to net income of $3.6 million, or $0.10 per diluted share.
●Pro forma net income(1) was $4.7 million, or $0.13 per diluted share, compared to $5.5 million, or $0.16 per diluted share.
●Adjusted EBITDA(1) was $11.9 million, compared to $13.4 million.

​

(1)System-wide comparable restaurant sales, restaurant contribution, pro forma net income and adjusted EBITDA are not presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and are defined below under “Key Financial Definitions.” A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure is included in the accompanying financial data. See also “Non-GAAP Financial Measures.”

Bernard Acoca, President and Chief Executive Officer of El Pollo Loco Holdings, Inc., stated, “We are pleased with our solid start to 2021, as we saw a significant improvement in sales trends during the first quarter, resulting in system-wide comparable restaurant sales growth of 7.4% compared to last year and an increase of 5.9% compared to 2019. Our momentum has continued into the second quarter with April system-wide comparable restaurant sales growth of 39.1% and two-year growth of 13.5%.  Also highlighting our recovery, we recently achieved three consecutive records for average weekly sales and posted our highest single day of sales ever on National Burrito Day. While margins in January and February were challenged due to COVID-19 related expenses, March margins were strong at over 20.0%. These performance indicators along with declining COVID-19 cases, increasing vaccine availability, and loosening of dining room restrictions in California, give us confidence that the operating environment is normalizing and that we can now focus our efforts on our Acceleration Agenda, which provides a detailed roadmap for successful growth over the next three years.

The following information was filed by El Pollo Loco Holdings, Inc. (LOCO) on Thursday, May 6, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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El Pollo Loco Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside El Pollo Loco Holdings, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Stockholders' Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Fair Value Measurements (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Computation Of Basic And Diluted Net Income Per Share (Details)
Earnings Per Share- Schedule Of Reconciliation Of Basic And Diluted Share Counts (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Cash And Non-Cash Lease Activities (Details)
Leases - Lease Cost (Details)
Leases - Lessor (Details)
Leases - Minimum Future Lease Obligations (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Details)
Other Accrued Expenses And Current Liabilities
Other Accrued Expenses And Current Liabilities (Tables)
Other Accrued Expenses And Current Liabilities - Schedule Of Other Accrued Expenses And Current Liabilities (Detail)
Other Noncurrent Liabilities
Other Noncurrent Liabilities (Tables)
Other Noncurrent Liabilities - Schedule Of Other Noncurrent Liabilities (Detail)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Property And Equipment - Schedule Of Costs And Related Accumulated Depreciation And Amortization Of Major Classes Of Property (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Additional Information (Details)
Revenue From Contracts With Customers - Change In Contract Liabilities (Details)
Revenue From Contracts With Customers - Loyalty Reward Liability And Gift Card Liability (Details)
Revenue From Contracts With Customers - Revenues Disaggregated By Geographic Market (Details)
Revenue From Contracts With Customers - Revenues Disaggregated By Revenue Source And Market (Details)
Revenue From Contracts With Customers - Unsatisfied Performance Obligation (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Changes In Stock Options (Details)
Stock-Based Compensation - Schedule Of Changes In Restricted Shares (Details)

Material Contracts, Statements, Certifications & more

El Pollo Loco Holdings, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: LOCO
CIK: 1606366
Form Type: 10-Q Quarterly Report
Accession Number: 0001606366-21-000031
Submitted to the SEC: Fri May 07 2021 3:37:35 PM EST
Accepted by the SEC: Fri May 07 2021
Period: Wednesday, March 31, 2021
Industry: Retail Eating Places

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