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[CITIC Securities: Current US Financial Market Environment Does Not Favor Balance Sheet Reduction] CITIC Securities Points Out That Although Warsh Repeatedly Mentioned The Policy Direction Of Interest Rate Cuts And Balance Sheet Reduction In 2025, Considering That The Liquidity Pressure In The US Money Market Only Significantly Eased In January, The Current Reserve-to-GDP Ratio Is Still Around 10%, And The Fed's Assets Held As A Percentage Of GDP Are Around 20%, Approaching The Pre-pandemic Level Of 2018, Indicating Limited Overall Reserve Adequacy. If Warsh Becomes The Next Fed Chairman, And If He Quickly Initiates Balance Sheet Reduction After Taking Office, The US Money Market May Face Liquidity Pressure Again. Therefore, Overall, CITIC Securities Believes That The Current US Financial Market Environment Does Not Favor Balance Sheet Reduction
UN Secretary General Guterres: Dissolution Of New Start Could Not Come At A Worse Time, With Risk Of Nuclear Weapon Use At Highest In Decades

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Operations leader latest addition to expanding chicken restaurant
COSTA MESA, Calif., Jan. 28, 2026 (GLOBE NEWSWIRE) -- El Pollo Loco , the nation’s leading fire-grilled chicken restaurant, announced today the appointment of Frank Garrido as an independent member of its Board of Directors (“Board”), effective March 1, 2026. Mr. Garrido is Executive Vice President – Chief Restaurant Officer of Domino’s Pizza, the largest pizza company in the world.
“I am thrilled to have Frank join our Board,” said Liz Williams, CEO, El Pollo Loco. “We believe that his extensive restaurant operations experience will add significant value as we expand El Pollo Loco in our existing markets and across the country.”
Mr. Garrido joined Domino’s in 2017. In his role he is responsible for franchise and company operations, development, in-store technology, operations services and training. His extensive background across operations and restaurant leadership has driven strong domestic growth for the world’s largest pizza chain. Prior to joining Domino’s, Mr. Wright held senior roles at Focus Brands and Edible Arrangements International.
Mr. Garrido will fill the vacancy on the Board created by the departure of Mark Buller, who announced today his retirement from the Board, effective February 28, 2026. “We are thankful for the impact Mark had during his 10-year tenure on El Pollo Loco’s Board,” said Douglas Babb, Chairperson of the Board. “Mark’s leadership has helped the company significantly improve its restaurant operations.”
“I’m excited to welcome Frank as an independent director to the El Pollo Loco Board,” said Babb. “He has a proven track record of leading high-performing operations teams, as well as deep restaurant industry experience.”
“As we embark on the next chapter of growth for El Pollo Loco, the addition of Frank to our board reflects our ongoing commitment to maximize shareholder value,” said Williams. “I would like to thank Mark for his service, and welcome once again Frank Garrido.”
About El Pollo Loco
El Pollo Loco is the nation's leading fire-grilled chicken restaurant known for its craveable, flavorful, and better-for-you offerings. Named by USA Today 10 Best Reader’s Choice Awards as a “Best Restaurant for Quick, Healthy Food” two years in a row, our menu features innovative meals with Mexican-inspired flavors made daily in our restaurants using quality ingredients. At El Pollo Loco, inclusivity is at the heart of our culture. Our community of over 4,000 employees reflects our commitment to creating a workplace where everyone has a seat at our table. Since opening our first U.S. restaurant in 1980, El Pollo Loco has expanded to more than 500 company-owned and franchised restaurants across Arizona, California, Colorado, Louisiana, Nevada, Texas, and Utah, with additional locations in development. The company has also extended its footprint internationally, with licensed restaurant locations in the Philippines. For more information or to place an order, visit the Loco Rewards app or ElPolloLoco.com. Follow us on Instagram, TikTok, Facebook, or X.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. These statements appear in a number of places throughout this press release and may include words such as “will,” “should,” “expect,” the negatives thereof and other words and terms of similar meaning in connection with any discussion of future events. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those that we expected.
While we believe that the assumptions underlying our forward-looking statements are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties that could cause outcomes to differ materially from our expectations. These factors include, but are not limited to: economic, social or business conditions that may affect the desire or ability of our customers to purchase our products; our ability to open new restaurants and compete successfully with other quick-service and fast casual restaurants; our ability to attract, develop, assimilate and retain employees; and the other risks set forth in our filings with the Securities and Exchange Commission from time to time, including under Item 1A, Risk Factors in our annual report on Form 10K for the year ended December 2024, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the Securities and Exchange Commission, all of which are or will be available online at www.sec.gov.
We caution you that the important factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences we anticipate or affect us or our operations in the ways that we expect. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.
CONTACT:
media@elpolloloco.com
Let’s dig into the relative performance of Krispy Kreme and its peers as we unravel the now-completed Q3 traditional fast food earnings season.
Traditional fast-food restaurants are renowned for their speed and convenience, boasting menus filled with familiar and budget-friendly items. Their reputations for on-the-go consumption make them favored destinations for individuals and families needing a quick meal. This class of restaurants, however, is fighting the perception that their meals are unhealthy and made with inferior ingredients, a battle that's especially relevant today given the consumers increasing focus on health and wellness.
The 13 traditional fast food stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates.
Thankfully, share prices of the companies have been resilient as they are up 8.3% on average since the latest earnings results.
Famous for its Original Glazed doughnuts and parent company of Insomnia Cookies, Krispy Kreme is one of the most beloved and well-known fast-food chains in the world.
Krispy Kreme reported revenues of $375.3 million, down 1.2% year on year. This print fell short of analysts’ expectations by 0.8%, but it was still a very strong quarter for the company with a beat of analysts’ EPS and EBITDA estimates.
“Looking ahead to the remainder of 2025 and beyond, we expect further improvement in adjusted EBITDA and positive free cash flow. We also anticipate progress on our refranchising agenda and continued profitable expansion with key customers in the U.S., all while reducing capital spending and paying down debt,” said Krispy Kreme CEO Josh Charlesworth.
Unsurprisingly, the stock is down 8.5% since reporting and currently trades at $3.45.
Started in 1992 by two brothers as a single pushcart, Dutch Bros is a dynamic coffee chain that’s captured the hearts of coffee enthusiasts across the United States.
Dutch Bros reported revenues of $423.6 million, up 25.2% year on year, outperforming analysts’ expectations by 2.3%. The business had an exceptional quarter with a solid beat of analysts’ same-store sales estimates and an impressive beat of analysts’ revenue estimates.
Dutch Bros pulled off the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 8.2% since reporting. It currently trades at $60.82.
Founded by the eclectic John “Papa John” Schnatter, Papa John’s is a globally recognized pizza delivery and carryout chain known for “better ingredients” and “better pizza”.
Papa John's reported revenues of $508.2 million, flat year on year, falling short of analysts’ expectations by 2.9%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ revenue estimates.
As expected, the stock is down 9% since the results and currently trades at $37.56.
Read our full analysis of Papa John’s results here.
With a name that translates into ‘The Crazy Chicken’, El Pollo Loco is a fast food chain known for its citrus-marinated, fire-grilled chicken recipe that hails from the coastal town of Sinaloa, Mexico.
El Pollo Loco reported revenues of $121.5 million, flat year on year. This number missed analysts’ expectations by 2%. Taking a step back, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ revenue estimates.
The stock is up 21% since reporting and currently trades at $10.96.
Read our full, actionable report on El Pollo Loco here, it’s free.
Started by three friends in Seattle’s historic Pike Place Market, Starbucks is a globally-renowned coffeehouse chain that offers a wide selection of high-quality coffee, beverages, and food items.
Starbucks reported revenues of $9.57 billion, up 5.5% year on year. This result topped analysts’ expectations by 2.6%. It was a strong quarter as it also produced an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ same-store sales estimates.
The stock is up 14.5% since reporting and currently trades at $96.36.
Read our full, actionable report on Starbucks here, it’s free.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Starbucks and the best and worst performers in the traditional fast food industry.
Traditional fast-food restaurants are renowned for their speed and convenience, boasting menus filled with familiar and budget-friendly items. Their reputations for on-the-go consumption make them favored destinations for individuals and families needing a quick meal. This class of restaurants, however, is fighting the perception that their meals are unhealthy and made with inferior ingredients, a battle that's especially relevant today given the consumers increasing focus on health and wellness.
The 13 traditional fast food stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates.
Thankfully, share prices of the companies have been resilient as they are up 8% on average since the latest earnings results.
Started by three friends in Seattle’s historic Pike Place Market, Starbucks is a globally-renowned coffeehouse chain that offers a wide selection of high-quality coffee, beverages, and food items.
Starbucks reported revenues of $9.57 billion, up 5.5% year on year. This print exceeded analysts’ expectations by 2.6%. Overall, it was a strong quarter for the company with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ same-store sales estimates.
Interestingly, the stock is up 14.6% since reporting and currently trades at $96.43.
Started in 1992 by two brothers as a single pushcart, Dutch Bros is a dynamic coffee chain that’s captured the hearts of coffee enthusiasts across the United States.
Dutch Bros reported revenues of $423.6 million, up 25.2% year on year, outperforming analysts’ expectations by 2.3%. The business had an exceptional quarter with a solid beat of analysts’ same-store sales estimates and an impressive beat of analysts’ revenue estimates.
Dutch Bros scored the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 9.1% since reporting. It currently trades at $61.34.
Founded by the eclectic John “Papa John” Schnatter, Papa John’s is a globally recognized pizza delivery and carryout chain known for “better ingredients” and “better pizza”.
Papa John's reported revenues of $508.2 million, flat year on year, falling short of analysts’ expectations by 2.9%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ revenue estimates.
As expected, the stock is down 8.5% since the results and currently trades at $37.74.
Read our full analysis of Papa John’s results here.
With a name that translates into ‘The Crazy Chicken’, El Pollo Loco is a fast food chain known for its citrus-marinated, fire-grilled chicken recipe that hails from the coastal town of Sinaloa, Mexico.
El Pollo Loco reported revenues of $121.5 million, flat year on year. This print missed analysts’ expectations by 2%. More broadly, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ revenue estimates.
The stock is up 22% since reporting and currently trades at $11.04.
Read our full, actionable report on El Pollo Loco here, it’s free.
Delighting customers since its inception in 1951, Jack in the Box is a distinctive fast-food chain known for its bold flavors, innovative menu items, and quirky marketing.
Jack in the Box reported revenues of $326.2 million, down 6.6% year on year. This result surpassed analysts’ expectations by 2.5%. Zooming out, it was a softer quarter as it logged full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.
Jack in the Box had the slowest revenue growth among its peers. The stock is up 47.3% since reporting and currently trades at $21.19.
Read our full, actionable report on Jack in the Box here, it’s free.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at traditional fast food stocks, starting with Yum China .
Traditional fast-food restaurants are renowned for their speed and convenience, boasting menus filled with familiar and budget-friendly items. Their reputations for on-the-go consumption make them favored destinations for individuals and families needing a quick meal. This class of restaurants, however, is fighting the perception that their meals are unhealthy and made with inferior ingredients, a battle that's especially relevant today given the consumers increasing focus on health and wellness.
The 13 traditional fast food stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates.
Luckily, traditional fast food stocks have performed well with share prices up 11.2% on average since the latest earnings results.
One of China’s largest restaurant companies, Yum China is an independent entity spun off from Yum! Brands in 2016.
Yum China reported revenues of $3.21 billion, up 4.4% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a narrow beat of analysts’ EBITDA estimates.
Interestingly, the stock is up 10.6% since reporting and currently trades at $48.65.
Started in 1992 by two brothers as a single pushcart, Dutch Bros is a dynamic coffee chain that’s captured the hearts of coffee enthusiasts across the United States.
Dutch Bros reported revenues of $423.6 million, up 25.2% year on year, outperforming analysts’ expectations by 2.3%. The business had an exceptional quarter with a solid beat of analysts’ same-store sales estimates and an impressive beat of analysts’ revenue estimates.
Dutch Bros delivered the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 9.5% since reporting. It currently trades at $61.55.
Founded by the eclectic John “Papa John” Schnatter, Papa John’s is a globally recognized pizza delivery and carryout chain known for “better ingredients” and “better pizza”.
Papa John's reported revenues of $508.2 million, flat year on year, falling short of analysts’ expectations by 2.9%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ revenue estimates.
As expected, the stock is down 7.8% since the results and currently trades at $38.05.
Read our full analysis of Papa John’s results here.
Founded by two brothers in Michigan, Domino’s (NYSE:DPZ) is a globally recognized pizza chain known for its creative marketing and fast delivery.
Domino's reported revenues of $1.15 billion, up 6.2% year on year. This print beat analysts’ expectations by 0.9%. It was a strong quarter as it also produced a solid beat of analysts’ EBITDA estimates and a narrow beat of analysts’ revenue estimates.
The stock is up 1% since reporting and currently trades at $412.37.
Read our full, actionable report on Domino's here, it’s free.
With a name that translates into ‘The Crazy Chicken’, El Pollo Loco is a fast food chain known for its citrus-marinated, fire-grilled chicken recipe that hails from the coastal town of Sinaloa, Mexico.
El Pollo Loco reported revenues of $121.5 million, flat year on year. This number lagged analysts' expectations by 2%. Taking a step back, it was a satisfactory quarter as it also produced an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ revenue estimates.
The stock is up 24% since reporting and currently trades at $11.22.
Read our full, actionable report on El Pollo Loco here, it’s free.
What Happened?
A number of stocks jumped in the afternoon session after analysts at Bernstein highlighted a potential recovery for the sector in 2026. After a challenging 2025 marked by weakened consumer confidence, the firm anticipates a gradual traffic recovery.
Several factors could stimulate consumer demand, including an upcoming Tax Bill and the U.S.-hosted Soccer World Cup, with effects potentially starting in the spring. This optimistic outlook was supported by restaurant valuations hitting 10-year lows, suggesting significant upside if consumer spending data improves. Following a period where households cut back on dining out due to inflation, larger tax rebate checks are also seen as a potential catalyst for a rebound in casual dining.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
Zooming In On Dutch Bros (BROS)
Dutch Bros’s shares are very volatile and have had 29 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 19 days ago when the stock gained 4.3% on the news that KeyBanc initiated coverage on the stock with an 'Overweight' rating, and the company opened its first store in Los Angeles. Analyst Eric Gonzalez from KeyBanc set a price target of $77.00. An 'Overweight' rating generally suggested that the analyst believed the stock would perform better than the average return of the stocks that the analyst covers.
Dutch Bros is up 1.7% since the beginning of the year, but at $63.24 per share, it is still trading 25.9% below its 52-week high of $85.37 from February 2025. Investors who bought $1,000 worth of Dutch Bros’s shares at the IPO in September 2021 would now be looking at an investment worth $1,724.
Wrapping up Q3 earnings, we look at the numbers and key takeaways for the traditional fast food stocks, including El Pollo Loco and its peers.
Traditional fast-food restaurants are renowned for their speed and convenience, boasting menus filled with familiar and budget-friendly items. Their reputations for on-the-go consumption make them favored destinations for individuals and families needing a quick meal. This class of restaurants, however, is fighting the perception that their meals are unhealthy and made with inferior ingredients, a battle that's especially relevant today given the consumers increasing focus on health and wellness.
The 13 traditional fast food stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates.
Thankfully, share prices of the companies have been resilient as they are up 8.2% on average since the latest earnings results.
With a name that translates into ‘The Crazy Chicken’, El Pollo Loco is a fast food chain known for its citrus-marinated, fire-grilled chicken recipe that hails from the coastal town of Sinaloa, Mexico.
El Pollo Loco reported revenues of $121.5 million, flat year on year. This print fell short of analysts’ expectations by 2%, but it was still a satisfactory quarter for the company with an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ revenue estimates.
Liz Williams, Chief Executive Officer of El Pollo Loco Holdings, Inc., stated, “Our third quarter results demonstrated the progress we are making across all aspects of our business. While our comparable store sales experienced a small decline, we are particularly pleased with our positive traffic growth during the quarter as we implemented targeted value and innovations that not only drove restaurant visits but also enhanced our brand equity. Our ongoing focus on operational excellence allowed us to deliver margin expansion at both the restaurant and corporate level. Our unit growth momentum continued with the opening of our 500th El Pollo Loco restaurant, and as we are building a pipeline that will almost double unit openings next year. As we look ahead, we remain laser-focused on executing against our five strategic pillars and continuing on our path of being the nation’s favorite fire-grilled chicken restaurant.”
Interestingly, the stock is up 18.6% since reporting and currently trades at $10.73.
Started in 1992 by two brothers as a single pushcart, Dutch Bros is a dynamic coffee chain that’s captured the hearts of coffee enthusiasts across the United States.
Dutch Bros reported revenues of $423.6 million, up 25.2% year on year, outperforming analysts’ expectations by 2.3%. The business had an exceptional quarter with a solid beat of analysts’ same-store sales estimates and an impressive beat of analysts’ revenue estimates.
Dutch Bros delivered the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 14% since reporting. It currently trades at $64.07.
Founded by the eclectic John “Papa John” Schnatter, Papa John’s is a globally recognized pizza delivery and carryout chain known for “better ingredients” and “better pizza”.
Papa John's reported revenues of $508.2 million, flat year on year, falling short of analysts’ expectations by 2.9%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ revenue estimates.
As expected, the stock is down 4.7% since the results and currently trades at $39.30.
Read our full analysis of Papa John’s results here.
Famous for its Original Glazed doughnuts and parent company of Insomnia Cookies, Krispy Kreme is one of the most beloved and well-known fast-food chains in the world.
Krispy Kreme reported revenues of $375.3 million, down 1.2% year on year. This print came in 0.8% below analysts' expectations. Zooming out, it was actually a very strong quarter as it put up a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
The stock is up 12.6% since reporting and currently trades at $4.24.
Read our full, actionable report on Krispy Kreme here, it’s free for active Edge members.
Founded by Dave Thomas in 1969, Wendy’s is a renowned fast-food chain known for its fresh, never-frozen beef burgers, flavorful menu options, and commitment to quality.
Wendy's reported revenues of $549.5 million, down 3% year on year. This number beat analysts’ expectations by 3.1%. It was an exceptional quarter as it also produced an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.
Wendy's scored the biggest analyst estimates beat among its peers. The stock is down 6.2% since reporting and currently trades at $8.28.
Read our full, actionable report on Wendy's here, it’s free for active Edge members.
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