El Pollo Loco Q3 2024 Update: Revenue and Share Repurchases

TL;DR

**EPL** Q3 24: Revenue $313.5M, share buybacks continue.

AI Summary

El Pollo Loco Holdings, Inc. filed a 10-Q for the period ending September 25, 2024. The company reported revenue of $313,532,230 for the trailing twelve months. The filing also details share repurchase programs and equity transactions, including those involving FS Equity Partners VI L.P. and its affiliates.

Why It Matters

This filing provides insight into El Pollo Loco's financial performance and capital allocation strategies, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: medium — The filing contains financial data and disclosures that could indicate operational or financial risks for El Pollo Loco Holdings, Inc.

Key Numbers

• $313.5M — Revenue (Total revenue for the period ending September 25, 2024.)
• $299.5M — Previous Revenue (Revenue for the prior comparable period.)

Key Players & Entities

• El Pollo Loco Holdings, Inc. (company) — Filer
• FS Equity Partners VI L.P. (company) — Investor/Partner
• 31353223 (dollar_amount) — Revenue
• 2024-09-25 (date) — Reporting Period End Date

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share LOCO The Nasdaq Stock Mar

Filing Documents

• loco-20240925x10q.htm (10-Q) — 2474KB
• loco-20240925xex31d1.htm (EX-31.1) — 8KB
• loco-20240925xex31d2.htm (EX-31.2) — 8KB
• loco-20240925xex32d1.htm (EX-32.1) — 6KB
• 0001606366-24-000049.txt ( ) — 9990KB
• loco-20240925.xsd (EX-101.SCH) — 62KB
• loco-20240925_cal.xml (EX-101.CAL) — 78KB
• loco-20240925_def.xml (EX-101.DEF) — 286KB
• loco-20240925_lab.xml (EX-101.LAB) — 597KB
• loco-20240925_pre.xml (EX-101.PRE) — 447KB
• loco-20240925x10q_htm.xml (XML) — 1826KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements. 3 Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Income (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 45

Controls and Procedures

Item 4. Controls and Procedures. 46

—OTHER INFORMATION

PART II—OTHER INFORMATION 47

Legal Proceedings

Item 1. Legal Proceedings. 47

Risk Factors

Item 1A. Risk Factors. 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 47

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 47

Other Information

Item 5. Other Information. 48

Exhibits

Item 6. Exhibits. 49

Signatures

Signatures 51 2 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. EL POLLO LOCO HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except share and per share data) September 25, December 27, 2024 2023 Assets Current assets: Cash and cash equivalents $ 7,895 $ 7,288 Accounts and other receivables, net 10,608 10,148 Inventories 1,851 1,911 Prepaid expenses and other current assets 2,639 5,634 Income tax receivable 493 153 Total current assets 23,486 25,134 Property and equipment, net 85,007 84,027 Property and equipment held under finance lease, net 1,467 1,528 Property and equipment held under operating leases, net ("ROU asset") 166,333 168,007 Goodwill 248,674 248,674 Trademarks 61,888 61,888 Other assets 3,119 3,043 Total assets $ 589,974 $ 592,301 Liabilities and Stockholders' Equity Current liabilities: Current portion of obligations under finance leases $ 155 $ 140 Current portion of obligations under operating leases 19,869 19,490 Accounts payable 8,548 12,541 Accrued salaries and vacation 10,802 9,332 Accrued insurance 12,108 11,831 Accrued income taxes payable 513 70 Accrued interest 285 394 Current portion of income tax receivable agreement payable 23 422 Other accrued expenses and current liabilities 23,284 18,361 Total current liabilities 75,587 72,581 Revolver loan 76,000 84,000 Obligations under finance leases, net of current portion 1,559 1,617 Obligations under operating leases, net of current portion 166,236 168,084 Deferred taxes 9,146 8,878 Other noncurrent liabilities 6,236 6,445 Total liabilities 334,764 341,605 Commitments and contingencies (Note 7) Stockholders' equity Preferred stock, $ 0.01 par value, 100,000,000 shares authorized; 100,000 shares designated as Series A Preferred Stock; none issued or outstanding — — Common stock, $ 0.01 par value, 200,000,000

View Full Filing

View this 10-Q filing on SEC EDGAR