El Pollo LoCo Beats Q4 Estimates

El Pollo LoCo Holdings Inc LOCO announced financial results Thursday for the fourth quarter ended December 31, 2014. Total revenue was $90.0 million, above estimates of $87.48 million and the $76.2 million reported in the year-ago period.. Pro forma net income increased 60.6 percent to $5.5 million, or $0.14 per diluted share, above estimates of $0.12 and the $3.4 million, or $0.09 per diluted share, reported in the prior year period. Fourth quarter 2014 results included an estimated $0.01 per share positive impact due to the extra week in the quarter. Net income was $4.6 million, or $0.12 per diluted share, compared to the net loss of $18.1 million, or ($0.63) per diluted share, in the prior year period. System-wide comparable restaurant sales grew 7.6 percent, including a 6.4 percent increase for company-operated restaurants, and an 8.6 percent increase for franchised restaurants. CEO Steve Sather stated, "We are pleased to have closed out fiscal 2014 with another strong quarter of sales and earnings growth. Our system-wide comparable restaurant sales growth of 7.6 percenrt marked our 14th consecutive quarter of positive comparable restaurant sales growth, as our unique 'QSR-plus' positioning, compelling value proposition, and broad menu offerings anchored by our signature fire-grilled chicken, continue to resonate with customers." The company expected 2015 pro forma diluted net income per share ranging from $0.67 to $0.71. Analysts had expected $0.68 for 2015 as compared to 2014 pro forma diluted net income per share of $0.55. El Pollo LoCo Holdings Inc traded at $25.18 in the after hours session, up 4.92 percent.