The stock price of Del Taco Restaurants Inc (TACO) closed the recent trading session at $12.51, 0.40% more than the previous trading session. TACO gained 2.16% to $12.78 in premarket today. The company filed the form SC 13G/A with the SEC on February 8, 2022.

Del Taco Restaurants, Inc is the second-largest Mexican-American restaurant chain, which specializes in American-style Mexican cuisine as well as American foods such as burgers, fries, and shakes. The restaurant was founded in 1964 and is headquartered in Lake Forest, California.

TACO Financials

On October 14, 2021, TACO announced its financial earnings for the third quarter of FY21 which finished on September 7, 2021. The company posted total revenue of $124.3 million against $120.8 million, a growth of 2.9% from the third quarter of FY20. The total sales of the restaurant were $112 million, achieving a growth of 2.2% from Q3 of FY20. A net income of $3.8 million against $5.8 million in the same quarter, as the previous year. TACO reported earnings per share (EPS) of $0.11 against the estimate of $0.10, surprising by 10%.

Management Remarks:

The president and the Chief Executive Officer (CEO) of Del Taco, John D. Cappasola, said they made significant growth in signing new franchise agreements, having signed a total of seven agreements this year. He added that these new arrangements will further help their stated objective of 5% growth in 2023.

“We launched our new comprehensive CRM stage and presented our new App called Del Yeah! Rewards, a points-based program with four levels that open energizing rewards and experiences. We are confident that the App will empower us to fortify our guest commitment as well as increment deals and recurrence over the long run.”, he concluded.

News

On January 19, 2022, TACO announced that they have recently launched the highly expected fresh flex location in Florida, USA. The new Fresh Flex design augments customer accommodation works on functional productivity and conveys a raised brand and guests experience. The Fresh Flex is technology-based and provides options like mobile applications, third-party pick-ups, double drive-thru lanes, and designated parking lots for guests who want to park and eat.

The CEO of Del Taco said that their new Fresh Flex design is prepared to capitalize as it permits the franchisees to use an assortment of property choices.