This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fiesta Restaurant Group, Inc. Reports Third Quarter 2013 Results

Stocks in this article: FRGI

Fiesta Restaurant Group, Inc. (“Fiesta” or the “Company”) (NASDAQ:FRGI), the owner, operator, and franchisor of the Pollo Tropical® and Taco Cabana® fast-casual restaurant brands, today reported results for the third quarter of 2013 which ended on September 29, 2013. The Company also provided initial operating targets for 2014.

Highlights of Third Quarter 2013 Results Include:

  • Total revenues increased 9.8% to $140.7 million, compared to $128.2 million in the prior year period;
  • Comparable restaurant sales increased 6.5% at Pollo Tropical and 1.8% at Taco Cabana;
  • Comparable restaurant guest traffic increased 3.2% at Pollo Tropical and decreased 0.1% at Taco Cabana;
  • Four company-owned Pollo Tropical restaurants were opened; and
  • Net income increased 38.2% to $5.0 million, or $0.21 per diluted share, compared to net income of $3.6 million, or $0.16 per diluted share, in the third quarter of 2012.

Tim Taft, President and Chief Executive Officer of Fiesta, commented, “We had an exceptionally strong third quarter characterized by positive comparable restaurant sales, increased restaurant-level profitability and meaningful growth in earnings per share Additionally, the infrastructure investments we’ve made have enabled us to substantially complete the administrative transition from Carrols while further providing ongoing support to our growing restaurant footprint. We expect to end 2013 with 18 new company-owned restaurants, of which 12 are Pollo Tropical and six are Taco Cabana.”

Taft concluded, “We are optimistic about 2014 as we continue to implement our long-term business plan. In addition to backfilling Pollo Tropical in Florida, we are also building our presence in Georgia and Tennessee. The restaurants in these markets are already generating healthy sales volumes despite not having yet achieved media efficiency. In 2014, we expect to nearly double the pace of Company-owned Pollo Tropical restaurant openings which will include our first Texas-based Pollo Tropical restaurant, in Dallas. Development of Taco Cabana restaurants was limited to Texas in 2013, but next year we will be entering Georgia with our new elevated concept that we believe will emerge as a growth vehicle for the Taco Cabana concept outside of Texas. Above all, we are fortunate to have two concepts that possess significant brand equity and are positioned to make meaningful contributions to our success.”

1 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs