El Pollo Loco stock surges on earnings beat, outlook
El Pollo Loco Holdings Inc. shares surged in the extended session Thursday after the chicken restaurant chain topped Wall Street estimates for its results and outlook. El Pollo Loco shares rallied 14% after hours, following a 1% decline in the regular session to close at $11.62. The company reported third-quarter net income of $6.4 million, or 18 cents a share, compared with $6.8 million, or 17 cents a share, in the year-ago period. Adjusted earnings were 20 cents a share. Revenue slipped to $112.1 million from $112.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 18 cents on revenue of $109.8 million. For the year, El Pollo Loco expects adjusted earnings of 71 cents to 74 cents, while analysts had forecast 70 cents a share.
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