COSTA MESA, Calif. (AP) _ El Pollo Loco Holdings Inc. (LOCO) on Thursday reported first-quarter net income of $3.6 million.
The Costa Mesa, California-based company said it had profit of 10 cents per share. Earnings, adjusted for asset impairment costs, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The Tex-Mex fast food chain posted revenue of $105.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $103.3 million.
El Pollo Loco shares have declined 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.23, a drop of roughly 5% in the last 12 months.