Don't count your chickens before they hatch.
Shares of El Pollo Loco plunged more than 15 percent in early trading Friday on the back of foul (fowl?) earnings.
The grilled-chicken chain posted earnings of 17 cents a share on $94.4 million in revenue. Analysts had expected earnings of 18 cents per share on revenues of $96.6 million, according to a consensus estimate from FactSet.
Although overall same-restaurant sales grew 0.7 percent, company-operated locations saw sales drop 0.6 percent during the quarter, due to a 0.8 percent decrease in traffic. Franchise restaurants, however, saw comparable sales grow 1.8 percent.
El Pollo Loco shares are down nearly 57 percent in the last year.