Why El Pollo Loco Holdings Stock Dropped Today

Shares of El Pollo Loco Holdings (NASDAQ: LOCO) were looking overcooked today, as the fast-casual chicken chain sold off following its third-quarter earnings report. Shares closed down 12.9% as the company missed estimates on the top and bottom lines, and cut its guidance for the fiscal year.

Image source: El Pollo Loco.

Comparable sales in the period ticked up 0.9%, as overall revenue increased 5.6%, to $101.2 million, missing estimates at $103.7 million. Revenue would've been $0.5 million higher without the impact of Hurricane Harvey. On the bottom line, adjusted earnings per share slipped from $0.18 to $0.16, factoring in the effects of Harvey, which was also short of the analyst consensus at $0.18.

Source: Fool.com