Reaffirms Guidance for Fiscal Year
2019
Del Taco Restaurants, Inc. (“Del Taco” or the “Company”),
(NASDAQ: TACO), the second largest Mexican-American quick service
restaurant chain by units in the United States, today reported
fiscal second quarter 2019 financial results for the 12-week period
ending June 18, 2019. Del Taco also reaffirmed its previously
announced guidance for fiscal year 2019.
Fiscal Second Quarter 2019 Highlights
- System-wide comparable restaurant sales increased 2.2%;
- Company-operated comparable restaurant sales increased 1.7%.
Company-operated comparable restaurant sales were comprised of
average check growth of 4.2%, including slight menu mix growth,
partially offset by a transaction decline of 2.5%;
- Franchised comparable restaurant sales increased 2.8%;
- Total revenue of $121.5 million representing 3.1% growth from
the fiscal second quarter 2018;
- Company-operated restaurant sales of $112.2 million
representing 2.2% growth from the fiscal second quarter 2018;
- Net income was $2.1 million, or $0.06 per diluted share,
compared to $4.2 million, or $0.11 per diluted share, in the fiscal
second quarter 2018;
- Adjusted net income* was $4.9 million, or $0.13 per diluted
share, compared to $5.4 million, or $0.14 per diluted share, in the
fiscal second quarter 2018;
- Restaurant contribution* margin of 19.0%, which includes an
approximate 70 basis points unfavorable impact from the adoption of
the new lease accounting standard, compared to 19.7% in the fiscal
second quarter 2018;
- Adjusted EBITDA* of $16.7 million, which includes approximately
$0.7 million of unfavorable impact from the adoption of the new
lease accounting standard, compared to $16.8 million in the fiscal
second quarter 2018; and
- One company-operated restaurant and two franchised restaurant
openings and three company-operated restaurant closures.
* Adjusted net income, restaurant contribution, and adjusted
EBITDA are non-GAAP measures and defined below under “Key Financial
Definitions”. Please see the reconciliation of non-GAAP measures
accompanying this release.
John D. Cappasola, Jr., President and Chief Executive Officer of
Del Taco, commented, “Del Taco’s digital transformation, value
evolution, and menu innovation strategies drove sequential
system-wide comparable restaurant sales improvement during the
second quarter. Company-operated restaurants experienced a 230
basis point and 300 basis point improvement, respectively, in
comparable restaurant sales and transactions relative to the first
quarter, while franchised restaurants similarly generated stronger
sequential trends. We also improved our restaurant contribution
margin performance compared to the first quarter due to these
stronger top-line results coupled with effective cost management.
Based upon our second quarter performance and outlook for the
remainder of 2019, we are reaffirming our annual guidance.”
Cappasola continued, “The Del App now exceeds 675,000 registered
users and we have expanded its functionality in company-operated
restaurants to include online ordering through the App for pickup
or delivery. Delivery is already available through Grubhub in
substantially all company-operated restaurants, and we are
particularly excited about our plans to add Postmates and DoorDash
later this year.”
Cappasola concluded, “Del Taco’s second quarter product and
promotion strategy centered on the $4, $5 and $6 ‘Fresh Faves’ box
meals to enhance our value platform, and the Beyond Taco and Beyond
Avocado Taco platform to leverage our menu innovation. These
products accentuate our QSR plus brand positioning and have been
very well received by our guests as ‘Fresh Faves’ mixed at nearly
5% throughout the quarter while the Beyond Tacos mixed at over 6%
since their system-wide launch on April 25th. During the third
quarter we expanded our Beyond product line to include the Beyond 8
Layer Burrito and the Epic Beyond Cali Burrito as we seek to
capitalize on the popularity and versatility of this 100%
plant-based protein.”
Review of Fiscal Second Quarter 2019 Financial
Results
Total revenue increased 3.1% to $121.5 million compared to
$117.8 million in the fiscal second quarter 2018. Comparable
restaurant sales increased 2.2% system-wide, resulting in a 5.5%
increase on a two-year basis. Company-operated comparable
restaurant sales increased 1.7% while franchise comparable
restaurant sales increased 2.8%.
Net income was $2.1 million, representing $0.06 per diluted
share, compared to $4.2 million in the fiscal second quarter 2018,
representing $0.11 per diluted share.
Adjusted net income* was $4.9 million, or $0.13 per diluted
share, compared to $5.4 million in the fiscal second quarter 2018,
or $0.14 per diluted share.
Restaurant contribution* was $21.3 million compared to $21.7
million in the fiscal second quarter 2018. As a percentage of
Company-operated restaurant sales, restaurant contribution margin
decreased 70 basis points year-over-year to 19.0%. The decrease was
the result of an approximately 50 basis point increase in occupancy
and other operating expenses, an approximately 10 basis point
increase in food and paper costs and an approximately 10 basis
point increase in labor and related expenses. Restaurant
contribution margin included a negative impact of approximately 70
basis points due to the adoption of the new lease accounting
standard.
Adjusted EBITDA* was $16.7 million compared to $16.8 million in
the fiscal second quarter 2019 and in fiscal 2019 includes
approximately $0.7 million of unfavorable impact from the adoption
of the new lease accounting standard.
Restaurant Development
During the fiscal second quarter 2019, there was one
company-operated restaurant opening and two franchised restaurant
openings. Thus far in 2019 there have been a total of nine
system-wide openings and there are currently another 12 restaurants
under construction with five more scheduled to begin construction
in August. Del Taco also recently signed a new franchise
development agreement for seven restaurants in Columbus, Ohio.
Repurchase Program for Common Stock and Warrants
During the fiscal second quarter 2019, the Company repurchased
303,607 shares of common stock at average price of $10.05 per share
and repurchased 6,186 warrants at an average price per warrant of
$1.30, for an aggregate of $3.1 million. At the fiscal quarter-end,
approximately $22.3 million remained under our $75 million
repurchase authorization.
Restaurant Portfolio Optimization
Del Taco continues to focus on optimizing its restaurant
portfolio to help stimulate growth in new restaurants and existing
restaurant AUV’s. This effort is expected to help shift company
ownership to approximately 45% by the summer of 2020. Del Taco
retained The Cypress Group, a leading restaurant and franchise
investment banking firm, to manage the refranchising of certain
company-operated restaurants across four non-core Western
markets.
The marketing process has driven significant interest among new
and existing franchisees and the Company is currently performing
its due diligence by evaluating transaction economics and, most
importantly, buyer qualifications including their track record as
operators and new unit developers. Because the exact timing of any
refranchising transactions has not yet been determined, they are
not embedded within our fiscal year 2019 guidance referenced
below.
Fiscal Year 2019 Guidance
Del Taco is reaffirming the following guidance for the 52-week
fiscal year 2019 ending December 31, 2019. This guidance does not
include any future refranchising transactions.
- System-wide comparable restaurant sales growth of low-single
digits;
- Total revenue between $517 million and $527 million;
- Company restaurant sales between $481 million and $491
million;
- Restaurant contribution* margin between 18.1% and 18.6%, which
includes approximately 70 basis points of unfavorable impact from
the adoption of the new lease accounting standard;
- General and administrative expenses between approximately 8.7%
and 9.0% of total revenue;
- Interest expense between approximately $7.2 million and $7.6
million;
- Effective tax rate of approximately 26.5% to 27.5%;
- Adjusted diluted earnings per share of approximately $0.47 to
$0.52;
- Adjusted EBITDA* is expected between $66.5 million and $69.0
million, which includes approximately $3.5 million of unfavorable
impact from the adoption of the new lease accounting standard;
- At least 25 gross system-wide new unit openings skewing toward
franchised restaurants and an estimated 1% system-wide closure
rate; and
- Net capital expenditures between $42 million to $47
million.
Adjusted net income, restaurant contribution, and adjusted
EBITDA* are non-GAAP measures and defined below under “Key
Financial Definitions”.
We have not reconciled guidance for Adjusted Net Income or
Adjusted EBITDA to the corresponding GAAP financial measure because
we do not provide guidance for the various reconciling items. We
are unable to provide guidance for these reconciling items because
we cannot determine their probable significance, as certain items
are outside of our control and cannot be reasonably predicted since
these items could vary significantly from period to period.
Accordingly, a reconciliation to the corresponding GAAP financial
measure is not available without unreasonable effort.
Conference Call
A conference call and webcast to discuss Del Taco’s financial
results and annual guidance is scheduled for 4:30 p.m. ET today.
Hosting the conference call and webcast will be John D. Cappasola,
Jr., President and Chief Executive Officer; and Steven L. Brake,
Executive Vice President and Chief Financial Officer.
Interested parties may listen to the conference call via
telephone by dialing 201-689-8471. A telephone replay will be
available shortly after the call has concluded and can be accessed
by dialing 412-317-6671; the passcode is 13692074.
The webcast will be available at www.deltaco.com under the
investors section and will be archived on the site shortly after
the call has concluded.
Key Financial Definitions
Comparable restaurant sales growth reflects the change in
year-over-year sales for the comparable company, franchise and
total system restaurant base. Restaurants are included in the
comparable store base in the accounting period following its 18th
full month of operations and excludes restaurant closures.
Restaurant contribution* is defined as company restaurant
sales less restaurant operating expenses, which are food and paper
costs, labor and related expenses and occupancy and other operating
expenses. Restaurant contribution margin is defined as
restaurant contribution as a percentage of company restaurant
sales. Restaurant contribution and restaurant contribution margin
are neither required by, nor presented in accordance with, GAAP.
Restaurant contribution and restaurant contribution margin are
supplemental measures of operating performance of restaurants and
the calculations thereof may not be comparable to those reported by
other companies. Restaurant contribution and restaurant
contribution margin have limitations as analytical tools, and you
should not consider them in isolation or as substitutes for
analysis of results as reported under U.S. GAAP. Management
believes that restaurant contribution and restaurant contribution
margin are important tools for investors because they are
widely-used metrics within the restaurant industry to evaluate
restaurant-level productivity, efficiency and performance.
Management uses restaurant contribution and restaurant contribution
margin as key performance indicators to evaluate the profitability
of incremental sales at Del Taco restaurants, to evaluate
restaurant performance across periods and to evaluate restaurant
financial performance compared with competitors.
Adjusted EBITDA* is defined as net income/loss prior to
interest expense, income taxes, and depreciation and amortization,
as adjusted to add back certain charges, such as stock-based
compensation expense and restaurant closure charges, as these
expenses are not considered an indicator of ongoing company
performance. Adjusted EBITDA is a non-GAAP financial measure and
should not be considered as an alternative to operating income or
net income/loss as a measure of operating performance or cash flows
or as measures of liquidity. Non-GAAP financial measures are not
necessarily calculated the same way by different companies and
should not be considered a substitute for or superior to GAAP
results. We believe Adjusted EBITDA facilitates operating
performance comparisons from period to period by isolating the
effects of some items that vary from period to period without any
correlation to core operating performance or that vary widely among
similar companies. These potential differences may be caused by
variations in capital structures (affecting interest expense), tax
positions (such as the impact on periods or changes in effective
tax rates or net operating losses) and the age and book
depreciation of facilities and equipment (affecting relative
depreciation expense). We also present Adjusted EBITDA because (i)
we believe this measure is frequently used by securities analysts,
investors and other interested parties to evaluate companies in our
industry and (ii) we use Adjusted EBITDA internally as a benchmark
to compare performance to that of competitors.
Adjusted net income* represents company net income before
restaurant closure charges, sublease income related to closed
restaurants, impairment of long-lived assets and other income
related to insurance proceeds, net of tax. Adjusted diluted net
income per share* represents company diluted net income per
share before restaurant closure charges, sublease income related to
closed restaurants, impairment of long-lived assets and other
income related to insurance proceeds, net of tax.
About Del Taco Restaurants, Inc.
Del Taco (NASDAQ: TACO) offers a unique variety of both Mexican
and American favorites such as burritos and fries, prepared fresh
in every restaurant's working kitchen with the value and
convenience of a drive-thru. Del Taco's menu items taste better
because they are made with quality ingredients like fresh grilled
chicken and carne asada steak, hand-sliced avocado, hand-grated
cheddar cheese, slow-cooked beans made from scratch, and creamy
Queso Blanco. Del Taco’s new advertising campaign, “Celebrating the
Hardest Working Hands in Fast Food,” further communicates the
company’s commitment to providing guests with fresh, quality food
prepared by hand every day. Founded in 1964, today Del Taco serves
more than three million guests each week at its more than 580
restaurants across 14 states. For more information, visit
www.deltaco.com.
Forward-Looking Statements
In addition to historical information, this release may contain
a number of “forward-looking statements” as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include, without limitation, information concerning Del
Taco’s possible or assumed future results of operations, business
strategies, competitive position, industry environment, potential
growth opportunities and the effects of regulation. These
statements are based on Del Taco’s management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “target,”
“may,” “will,” “should,” “future,” “propose,” “preliminary,”
“guidance,” “on track” and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. Such
forward-looking statements are subject to known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside Del Taco’s management’s control that could cause
actual results to differ materially from the results discussed in
the forward-looking statements. These risks include, without
limitation, consumer demand, our inability to successfully open
company-operated or franchised restaurants or establish new
markets, competition in our markets, our inability to grow and
manage growth profitably, adverse changes in food and supply costs,
our inability to access additional capital, changes in applicable
laws or regulations, food safety and foodborne illness concerns,
our inability to manage existing and to obtain additional
franchisees, our inability to attract and retain qualified
personnel, our inability to profitably expand into new markets,
changes in, or the discontinuation of, the Company’s repurchase
program, and the possibility that we may be adversely affected by
other economic, business, and/or competitive factors. Additional
risks and uncertainties are identified and discussed in Del Taco’s
reports filed with the SEC, including under Item 1A. Risk Factors
in our Annual Report on Form 10-K for the year ended January 1,
2019, and available at the SEC’s website at www.sec.gov and the
Company’s website at www.deltaco.com.
Forward-looking statements included in this release speak only
as of the date of this release. Del Taco undertakes no obligation
to update its forward-looking statements to reflect events or
circumstances after the date of this release or otherwise.
Del Taco Restaurants, Inc. Consolidated Balance
Sheets (In thousands, except share and per share data)
June 18, 2019 January 1, 2019 Assets
(unaudited) Current assets: Cash and cash equivalents
$
5,250
$
7,153
Accounts and other receivables, net
2,269
3,167
Inventories
2,831
2,932
Prepaid expenses and other current assets
2,960
4,935
Assets held for sale —
14,794
Total current assets
13,310
32,981
Property and equipment, net
153,498
161,429
Operating lease right-of-use assets
228,763
— Goodwill
324,120
321,531
Trademarks
220,300
220,300
Intangible assets, net
11,370
18,507
Other assets, net
3,994
4,208
Total assets
$
955,355
$
758,956
Liabilities and shareholders' equity Current
liabilities: Accounts payable
$
19,688
$
19,877
Other accrued liabilities
35,094
34,785
Current portion of finance lease obligations, other debt and
deemedlandlord financing liabilities
423
1,033
Current portion of operating lease liabilities
19,861
— Total current liabilities
75,066
55,695
Long-term debt, finance lease obligations, other debt and deemed
landlordfinancing liabilities, excluding current portion, net
146,587
178,664
Operating lease liabilities
225,100
— Deferred income taxes
69,958
69,471
Other non-current liabilities
15,336
32,852
Total liabilities
532,047
336,682
Shareholders' equity: Preferred stock, $0.0001 par value;
1,000,000 shares authorized; no sharesissued and outstanding — —
Common stock, $0.0001 par value; 400,000,000 shares authorized;
36,795,532shares issued and outstanding at June 18, 2019;
37,305,342 shares issuedand outstanding at January 1, 2019
4
4
Additional paid-in capital
332,769
336,941
Accumulated other comprehensive (loss) income
(43
)
180
Retained earnings
90,578
85,149
Total shareholders' equity
423,308
422,274
Total liabilities and shareholders' equity
$
955,355
$
758,956
Del Taco Restaurants, Inc. Consolidated Statements
of Comprehensive Income (Unaudited) (In thousands,
except share and per share data) 12 Weeks Ended
24 Weeks Ended June 18, 2019 June 19, 2018
June 18, 2019 June 19, 2018 Revenue: Company
restaurant sales
$
112,180
$
109,800
$
218,083
$
214,909
Franchise revenue
4,638
4,149
8,703
7,941
Franchise advertising contributions
3,459
3,136
6,590
6,072
Franchise sublease and other income
1,183
728
2,281
1,445
Total revenue
121,460
117,813
235,657
230,367
Operating expenses: Restaurant operating expenses: Food and paper
costs
30,855
30,082
59,673
59,055
Labor and related expenses
36,338
35,422
72,238
70,240
Occupancy and other operating expenses
23,703
22,627
48,136
44,613
General and administrative
10,849
10,321
21,314
20,750
Franchise advertising expenses
3,459
3,136
6,590
6,072
Depreciation and amortization
5,813
5,847
11,720
11,761
Occupancy and other - franchise subleases and other
993
651
1,847
1,289
Pre-opening costs
155
199
255
641
Impairment of long-lived assets
3,694
1,661
3,694
1,661
Restaurant closure charges, net
490
(24
)
1,130
(37
)
Loss on disposal of assets, net
594
87
884
180
Total operating expenses
116,943
110,009
227,481
216,225
Income from operations
4,517
7,804
8,176
14,142
Other expense, net Interest expense
1,722
2,012
3,506
3,922
Other income
(97
)
—
(201
)
— Total other expense, net
1,625
2,012
3,305
3,922
Income from operations before provision for income taxes
2,892
5,792
4,871
10,220
Provision for income taxes
800
1,582
1,354
2,781
Net income
2,092
4,210
3,517
7,439
Other comprehensive (loss) income: Change in fair value of interest
rate cap, net of tax
(131
)
115
(270
)
289
Reclassification of interest rate cap amortization included innet
income, net of tax
26
10
47
16
Total other comprehensive (loss) income
(105
)
125
(223
)
305
Comprehensive income
$
1,987
$
4,335
$
3,294
$
7,744
Earnings per share: Basic
$
0.06
$
0.11
$
0.10
$
0.19
Diluted
$
0.06
$
0.11
$
0.09
$
0.19
Weighted-average shares outstanding Basic
36,821,728
38,299,483
36,988,853
38,370,595
Diluted
37,083,799
38,643,873
37,215,059
38,938,106
Del Taco Restaurants, Inc. Reconciliation of Net Income
to EBITDA and Adjusted EBITDA (Unaudited) (In
thousands) 12 Weeks Ended 24 Weeks Ended
June 18, 2019 June 19, 2018 June 18, 2019
June 19, 2018 Net income
$
2,092
$
4,210
$
3,517
$
7,439
Non-GAAP adjustments: Provision for income taxes
800
1,582
1,354
2,781
Interest expense
1,722
2,012
3,506
3,922
Depreciation and amortization
5,813
5,847
11,720
11,761
EBITDA
10,427
13,651
20,097
25,903
Stock-based compensation expense (a)
1,676
1,360
3,253
2,634
Loss on disposal of assets, net (b)
594
87
884
180
Restaurant closure charges, net (c)
490
(24
)
1,130
(37
)
Amortization of favorable and unfavorable lease assets
andliabilities, net (d)
(23
)
(132
)
63
(250
)
Pre-opening costs (e)
155
199
255
641
Impairment of long-lived assets (f)
3,694
1,661
3,694
1,661
Other income (g)
(97
)
—
(201
)
— Sublease income for closed restaurants (h)
(180
)
—
(381
)
—
Adjusted EBITDA
$
16,736
$
16,802
$
28,794
$
30,732
(a) Includes non-cash, stock-based compensation. (b) Loss on
disposal of assets, net includes the loss or gain on disposal of
assets related to sales, retirements and replacement or write-off
of leasehold improvements or equipment in the ordinary course of
business, net gains or losses recorded associated with the sale of
company-operated restaurants to franchisees and net gains or losses
recorded associated with sale-leaseback transactions. (c) During
2019, restaurant closure costs includes rent expense, non lease
executory costs and other direct costs associated with previously
closed restaurants. During 2018, restaurant closure costs includes
costs related to future obligations associated with the closure or
net sublease shortfall of a restaurant and lease termination costs,
partially offset by sublease income from leases which are treated
as deemed landlord financing. (d) Includes amortization of
favorable lease assets and unfavorable lease liabilities. (e)
Pre-opening costs consist of costs directly associated with the
opening of new restaurants and incurred prior to opening, including
restaurant labor, supplies, cash and non-cash rent expense and
other related pre-opening costs. These are generally incurred over
the three to five months prior to opening. (f) Includes costs
related to impairment of long-lived assets. (g) Other income
consists of insurance proceeds related to a fire at a
company-operated restaurant. (h) Includes other sublease income
related to closed restaurants that have been subleased to third
parties.
Del Taco Restaurants, Inc. Reconciliation of
Company Restaurant Sales to Restaurant Contribution
(Unaudited) (In thousands) 12 Weeks
Ended 24 Weeks Ended June 18, 2019 June 19,
2018 June 18, 2019 June 19, 2018 Company
restaurant sales
$ 112,180
$ 109,800
$ 218,083
$ 214,909
Restaurant operating expenses
90,896
88,131
180,047
173,908
Restaurant contribution
$ 21,284
$ 21,669
$ 38,036
$ 41,001
Restaurant contribution margin
19.0 %
19.7 %
17.4 %
19.1 %
Del Taco Restaurants, Inc. Reconciliation of Net
Income and Diluted Earnings Per Share to Adjusted Net Income and
Adjusted Diluted Earnings Per Share (Unaudited) (In
thousands, except per share data) 12 Weeks
Ended 12 Weeks Ended June 18, 2019 June 19,
2018
$
Per Share
$
Per Share Net income and diluted earnings per share, as
reported
$
2,092
$
0.06
$
4,210
$
0.11
Restaurant closure charges, net (a)
490
0.01
(24
)
— Other income (b)
(97
)
— — — Sublease income for closed restaurants (c)
(180
)
— — — Impairment of long-lived assets (d)
3,694
0.10
1,661
0.04
Tax impact of adjustment (e)
(1,085
)
(0.03
)
(445
)
(0.01
)
Non-GAAP adjusted net income and adjusted diluted earnings per
share
$
4,914
$
0.13
$
5,402
$
0.14
24 Weeks Ended 24 Weeks Ended June 18,
2019 June 19, 2018
$
Per Share
$
Per Share Net income and diluted earnings per share, as
reported
$
3,517
$
0.09
$
7,439
$
0.19
Restaurant closure charges, net (a)
1,130
$
0.03
(37
)
— Other income (b)
(201
)
$
(0.01
)
— — Sublease income for closed restaurants (c)
(381
)
$
(0.01
)
— — Impairment of long-lived assets (d)
3,694
$
0.10
1,661
0.04
Tax impact of adjustment (e)
(1,176
)
$
(0.03
)
(442
)
(0.01
)
Non-GAAP adjusted net income and adjusted diluted earnings per
share
$
6,583
$
0.18
$
8,621
$
0.22
(a) During 2019, restaurant closure costs includes rent
expense, non lease executory costs and other direct costs
associated with previously closed restaurants. During 2018,
includes costs related to future obligations associated with the
closure or net sublease shortfall of a restaurant and lease
termination costs, partially offset by sublease income from leases
which are treated as deemed landlord financing. (b) Includes other
income which consists of insurance proceeds related to a fire at a
company-operated restaurant. (c) Includes other sublease income
related to closed restaurants that have been subleased to third
parties. (d) Represents the income tax associated with the
adjustments in (a) through (c) that are deductible for income tax
purposes.
Del Taco Restaurants, Inc. Restaurant
Development 12 Weeks Ended 24 Weeks Ended
June 18, 2019 June 19, 2018 June 18, 2019
June 19, 2018 Company-operated restaurant activity:
Beginning of period
312
315
322
312
Openings
1
1
1
4
Closures
(3
)
(1
)
(3
)
(1
)
Purchased from franchisees
—
—
3
— Sold to franchisees — —
(13
)
— Restaurants at end of period
310
315
310
315
Franchise-operated restaurant activity: Beginning of period
271
251
258
252
Openings
2
1
6
1
Closures —
(1
)
(1
)
(2
)
Purchased from Company — —
13
— Sold to Company — —
(3
)
— Restaurants at end of period
273
251
273
251
Total restaurant activity: Beginning of period
583
566
580
564
Openings
3
2
7
5
Closures
(3
)
(2
)
(4
)
(3
)
Restaurants at end of period
583
566
583
566
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190729005649/en/
Investor Relations Contact: Raphael Gross (203) 682-8253
investor@deltaco.com
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Del Taco Restaurants (NASDAQ:TACO)
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From Sep 2023 to Sep 2024