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El Pollo Loco El Pollo Loco Holdings , Inc. Announces Third Quarter 2021 Financial Results November 4 , 2021 COSTA MESA , Calif . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- El Pollo Loco Holdings , Inc. ( Nasdaq : LOCO ) today announced financial results for the 13 - week period ended September 29 , 2021 . Highlights for the third quarter ended September 29 , 2021 compared to the third quarter ended September 23 , 2020 were as follows : • Total revenue was $ 115.7 million compared to $ 111.0 million . . System - wide comparable restaurant sales ( 1 ) increased 9.3 % . • Income from operations was $ 14.2 million compared to $ 12.2 million . • Restaurant contribution ( 1 ) was $ 20.4 million , or 20.4 % of company - operated restaurant revenue , compared to $ 21.8 million , or 22.4 % of company - operated restaurant revenue . • Net income was $ 10.2 million , or $ 0.28 per diluted share , compared to net income of $ 9.9 million , or $ 0.28 per diluted share . • Pro forma net income ( 1 ) was $ 10.0 million , or $ 0.27 per diluted share , compared to $ 9.9 million , or $ 0.28 per diluted share . Adjusted EBITDA ( 1 ) was $ 18.9 million , compared to $ 19.3 million . • During the third quarter , under the CARES Act , the Company recognized a $ 3.2 million employee retention credit . ( 1 ) System - wide comparable restaurant sales , restaurant contribution , pro forma net income and adjusted EBITDA are not presented in accordance with accounting principles generally accepted in the United States of America ( " GAAP " ) and are defined below under " Key Financial Definitions . " A reconciliation of these non - GAAP financial measures to the most directly comparable GAAP financial measure is included in the accompanying financial data . See also " Non - GAAP Financial Measures . " Larry Roberts , Interim Chief Executive Officer and Chief Financial Officer of El Pollo Loco Holdings , Inc. , stated , " We are pleased to see that our strong sales continued during the third quarter as we posted a 9.3 % growth in system - wide comparable restaurant sales , or 11.9 % growth on a two - year basis . The year over year system sales results were driven by a 5.9 % increase in transactions , further demonstrating the strength of the brand . As we look to the future , we could not be more excited about our brand positioning today and the growth opportunity we have ahead of us . Moreover , our focus on the acceleration agenda will continue to build momentum in our core business for rapid and successful growth over the next three years . In the near term , as with many in the restaurant industry , we continue to work through supply chain challenges and are particularly focused on ensuring that our restaurants are fully staffed so that they can continue to provide the service levels our customers expect from El Pollo Loco . " Third Quarter 2021 Financial Results Company - operated restaurant revenue in the third quarter of 2021 increased to $ 100.0 million , compared to $ 97.3 million in the third quarter of 2020 , primarily due to a 4.8 % increase in company - operated comparable restaurant sales . The company - operated comparable restaurant sales increase consisted of an approximately 3.5 % increase in average check size and a 1.2 % increase in transactions . In addition , company - operated restaurant revenue was favorably impacted by $ 0.9 million of additional sales from restaurants opened during or after the third quarter of the prior year and a $ 0.4 million increase in revenue from restaurants that were temporarily closed due to the COVID - 19 pandemic during the third quarter of the prior year . This restaurant sales increase was partially offset by a $ 2.6 million decrease in revenue from the eight company - operated restaurants sold by the Company to an existing franchisee during the quarter and a $ 0.4 million decrease in revenue recognized for our loyalty points program . Franchise revenue in the third quarter of 2021 increased 14.6 % to $ 8.9 million , compared to $ 7.8 million in the third quarter of 2020. This increase was primarily due to a 12.6 % increase in franchise comparable restaurant sales , the opening of one new franchise restaurant during or subsequent to the third quarter of 2020 and revenue generated from eight company - operated restaurants sold by the Company to an existing franchisee during the quarter . The increase in franchise revenue was partially offset by the closure of two franchise locations during or subsequent to the third quarter of 2020 . Income from operations in the third quarter of 2021 was $ 14.2 million , compared to $ 12.2 million in the third quarter of 2020. Restaurant contribution was $ 20.4 million , or 20.4 % of company - operated restaurant revenue , compared to $ 21.8 million , or 22.4 % of company - operated restaurant revenue in the third quarter of 2020. The decrease in restaurant contribution was largely due to the impact of wage increases and higher operating costs ,