El Pollo LoCo Holdings Inc (NASDAQ: LOCO) their second quarter earnings report Thursday after market closed. The financials have shown a mixed performance, which disappointed investors. As the result shares have fallen about 20% today.
The company did beat wall street’s estimates of earnings per share, reporting a $0.19 EPS slightly above the $0.18 expected, yet the El Pollo LoCo missed sales, reporting $86.9 million, bellow the $93 million expected by analysts. In addition the restaurant chain reported estimates of full year EPS projections to be in a range of $0.67 - $0.71, while analysts estimate $0.70.
El Pollo LoCo joins the list of few casual dining restaurant chains that haven’t performed well this quarter, including Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB), and Jack in the Box Inc. (NASDAQ: JACK).
The company’s CEO, Steve Sather, assured investors in the brands strength in a press statement saying that, “We remain focused on delivering the core elements of our QSR+ brand promise and are confident in the remainder of the year with the addition of shrimp and the rebalancing of our menu with more value focused products."
Since the beginning of the year, shares of El Pollo LoCo have fallen about 25%, and about 38% since the company IPO in August 2014.