NEW YORK (TheStreet) -- Shares of El Pollo LoCo (LOCO - Get Report) 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 the Thomson 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.
El Pollo Loco forecats earnings per share between 67 cents and 71 cents per share for the full year. Wall Street had expected 2015 earnings of 70 cents per share.
Shares closed at $29.06 on Thursday.
El Pollo Loco, Spanish for "The Crazy Chicken," specializes in fire grilling citrus-marinated chicken in front of its customers with more than 400 company-owned and franchised restaurants in the Southwest.