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El Pollo Loco Holdings Inc. (LOCO-4.37%) has filed its Form 10-K filing for the fiscal year ended December 25, 2024.
The company reported total revenue of $473 million, a slight increase from $468.7 million in the previous year. Company-operated restaurant revenue was $396.3 million, down from $398.4 million, while franchise revenue increased to $45.6 million from $41 million.
Comparable restaurant sales increased by 3.2% system-wide, with company-operated restaurants seeing a 2.8% rise and franchised restaurants a 3.5% increase. The increase in company-operated restaurant sales was driven by a 7.9% rise in average check size, despite a 4.7% decrease in transactions.
The company's net income for the year was $25.7 million, compared to $25.6 million in the previous year. The provision for income taxes was $9.6 million, resulting in an effective tax rate of 27.2%.
El Pollo Loco opened two new company-operated restaurants and two franchised restaurants in 2024. The company also sold one company-operated restaurant to an existing franchisee.
The company's total liabilities decreased to $331.3 million from $341.6 million, while stockholders' equity increased to $260.7 million from $250.7 million.
El Pollo Loco's 2022 Revolver had an outstanding balance of $71 million at the end of the fiscal year, with $68.7 million available for future borrowing.
The company repurchased 2,069,931 shares of its common stock in 2024 for a total of $20.6 million, under its share repurchase program.
El Pollo Loco's growth strategy includes expanding its restaurant base, increasing sales, and enhancing its competitive positioning. In 2025, the company plans to open one to two new company-operated restaurants and eight to nine new franchised restaurants.
The company continues to face challenges such as rising labor costs due to legislative changes, inflationary pressures, and potential impacts from changes in trade policies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the El Pollo Loco Holdings Inc. annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.