El Pollo Loco Holdings, Inc. (LOCO) has reported an 11.68 percent rise in profit for the quarter ended Sep. 28, 2016. The company has earned $5.21 million, or $0.13 a share in the quarter, compared with $4.67 million, or $0.12 a share for the same period last year. Revenue during the quarter grew 7.82 percent to $95.82 million from $88.87 million in the previous year period. Gross margin for the quarter expanded 21 basis points over the previous year period to 99.17 percent. Total expenses were 90.60 percent of quarterly revenues, up from 85.90 percent for the same period last year. That has resulted in a contraction of 469 basis points in operating margin to 9.40 percent.
Operating income for the quarter was $9.01 million, compared with $12.53 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $17.32 million compared with $16.65 million in the prior year period. At the same time, adjusted EBITDA margin contracted 65 basis points in the quarter to 18.08 percent from 18.73 percent in the last year period.
Steve Sather, president and chief executive officer of El Pollo Loco Holdings, Inc., stated, "We continue to focus on the four pillars of our brand " great food, excellent service, a warm and inviting atmosphere, and a good price. This focus continues to strengthen our core business and has enabled us to achieve our 21st consecutive quarter of system wide comparable restaurant sales growth."
For financial year 2016, El Pollo Loco Holdings, Inc. projects diluted earnings per share to be in the range of $0.67 to $0.68.
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