Portillo’s Inc. Announces Third Quarter 2024 Financial Results
Portillo's Inc. (PTLO)
Company Research
Source: GlobeNewswire
CHICAGO, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Portillo’s Inc. (“Portillo’s” or the “Company”) (NASDAQ: PTLO), the restaurant concept known for its menu of Chicago-style favorites, today reported financial results for the third quarter ended September 29, 2024. Michael Osanloo, President and Chief Executive Officer of Portillo’s, said, “While our top line results for the quarter fell short of expectations, I’m proud of how our team protected margins and drove cash flow. We’re profitable, we’re controlling the levers we can, and we’re positioned for lasting, long-term growth.” Financial Highlights for the Third Quarter 2024 vs. Third Quarter 2023: Total revenue increased 6.9% or $11.4 million to $178.3 million;Same-restaurant sales* decreased 0.9%;Operating income increased $0.9 million to $16.0 million;Net income increased $2.2 million to $8.8 million;Restaurant-Level Adjusted EBITDA** increased $0.1 million to $41.9 million; andAdjusted EBITDA** increased $0.6 million to
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News
- Portillo's Inc. (NASDAQ: PTLO) had its price target raised by analysts at UBS Group AG from $13.00 to $14.00. They now have a "neutral" rating on the stock.MarketBeat
- Portillo's Inc. (NASDAQ: PTLO) had its "equal weight" rating re-affirmed by analysts at Stephens. They now have a $13.00 price target on the stock.MarketBeat
- Portillo's Inc. (NASDAQ: PTLO) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating. They now have a $13.00 price target on the stock.MarketBeat
- Portillos Inc (PTLO) Q3 2024 Earnings Call Highlights: Navigating Growth Amidst Rising Costs [Yahoo! Finance]Yahoo! Finance
- Portillos Inc (PTLO) Q3 2024: Everything You Need to Know Ahead of Earnings [Yahoo! Finance]Yahoo! Finance
PTLO
Earnings
- 11/5/24 - Beat
PTLO
Sec Filings
- 11/14/24 - Form SC
- 11/13/24 - Form SC
- 11/5/24 - Form 10-Q
- PTLO's page on the SEC website