Portillos Inc (PTLO) Q3 2024 Earnings Call Highlights: Navigating Growth Amidst Rising Costs [Yahoo! Finance]
Portillo's Inc. (PTLO)
Company Research
Source: Yahoo! Finance
Restaurant Level Margins: 23.5% in Q3 2024, down from 25.1% in Q3 2023. Adjusted EBITDA: $27.9 million, a 2.3% increase from the previous year. Cash from Operations: $72 million year-to-date, a 34.3% increase year-over-year. New Restaurant Openings: On track to open 10 restaurants in 2024, with a pipeline to grow restaurant count by 12% to 15% next year. Food, Beverage, and Packaging Costs: Increased to 33.7% of revenues due to a 3.6% rise in commodity prices. Labor Costs: Increased to 25.8% of revenues, with hourly labor rates up 2.8% in Q3 2024. General and Administrative Expenses: Decreased to $18.3 million, or 10.3% of revenue. Interest Expense: $6.5 million in Q3 2024, with an effective interest rate of 8.3%. Cash Position: Ended the quarter with $18.5 million in cash. Warning! GuruFocus has detected 4 Warning Signs with PTLO. Release Date: November 05, 2024 For the complete transcript of the earnings call, please refer to the full earnings call transcript
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PTLO
News
- Portillo’s Inc. to Announce Fourth Quarter 2024 Results on Tuesday, February 25, 2025GlobeNewswire
- Portillo's Inc. (NASDAQ: PTLO) was upgraded by analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating. They now have a $16.00 price target on the stock, up previously from $13.00.MarketBeat
- Portillo's Inc. (NASDAQ: PTLO) had its price target lowered by analysts at Morgan Stanley from $15.00 to $13.00. They now have an "equal weight" rating on the stock.MarketBeat
- Portillo’s Adds Industry Veteran Jack Hartung to Board of DirectorsGlobeNewswire
- Portillo's Inc. (NASDAQ: PTLO) had its price target lowered by analysts at UBS Group AG from $14.00 to $11.00. They now have a "neutral" rating on the stock.MarketBeat
PTLO
Earnings
- 11/5/24 - Beat
PTLO
Sec Filings
- 2/14/25 - Form SCHEDULE
- 1/27/25 - Form 8-K
- 1/13/25 - Form 8-K
- PTLO's page on the SEC website