U.S. Markets close in 5 hrs 8 mins

El Pollo Loco misses 4Q profit forecasts

COSTA MESA, Calif. (AP) _ El Pollo Loco Holdings Inc. (LOCO) on Thursday reported fourth-quarter net income of $418,000.

On a per-share basis, the Costa Mesa, California-based company said it had net income of 1 cent. Earnings, adjusted for asset impairment costs, came to 12 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The Tex-Mex fast food chain posted revenue of $92.5 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $90.8 million.

For the year, the company reported profit of $18.3 million, or 47 cents per share. Revenue was reported as $380.1 million.

El Pollo Loco expects full-year earnings in the range of 65 cents to 69 cents per share.

El Pollo Loco shares have decreased nearly 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.35, a decrease of 24 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOCO at https://www.zacks.com/ap/LOCO

_____

Keywords: El Pollo Loco Holdings, Earnings Report