By Kurumi Fukushima
El Pollo LoCo are plummeting, down 12.35% to $25.47 in pre-market trading Friday, following yesterday’s release of the Mexican food company’s first quarter earnings results.
The Mexican restaurant company earned 18 cents per share, higher compared to theThomson Reuters consensus estimate of 17 cents per share for the quarter.
Revenue rose 17% from a year ago to $90.4 million for the period, while analysts were expecting revenue of $88 million.
Although the company surpassed analysts’ estimates on both the top and bottom line, the company issued a weak earnings guidance.
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