Shares of quick-service restaurant operator El Pollo Loco (NASDAQ:LOCO) are in the green today on the back of its impressive third-quarter numbers.
Revenue climbed 3.6% year-over-year to $119.9 million, wafting past estimates by $4.1 million. EPS at $0.14 too, came in ahead of expectations by $0.02. Further, system-wide comparable restaurant sales also increased by 3.8% during this period.
While food and labor cost increases continue to weigh on margins, the company is seeing sales momentum along with gains in its franchisee program.
For 2022, El Pollo Loco expects to incur capital expenditure between $19 million and $22 million.
Further, it plans to open four new company-owned restaurants along with seen to nine new franchise locations.
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