Portillo's Inc. (PTLO) came out with quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -9.09%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.08, delivering a surprise of 60%. Over the last four quarters, the company h ...

Investors may also listen via telephone by dialing 1 (877) 407-3982 (toll-free) or 1 (201) 493-6780 (international). A telephone replay will be available shortly after the call concludes and can be accessed by dialing 1 (412) 317-6671; the passcode is 13741635. About Portillo's In 1963, Dick Portillo invested $1,100 into a small trailer to open the first Portillo's hot dog stand in Villa Park, IL, which he called "The Dog House." Years later, Portillo's (NASDAQ: PTLO) has grown to more than 85 restaurants a ...

Portillo's (NASDAQ:PTLO) shares have fallen 40% year-to-date and are now off 55% over the past year. Investors have fled the stock following a disappointing first quarter earnings report, concern over consumer spending, and persistent selling by private equity firm Berkshire Partners (not affiliated with Berkshire Hathaway) since the IPO. While 1Q numbers weren't great, at today's price, I see little fundamental downside in Portillo's shares (discussed below) and think investors are overlooking some importa ...

Core Points - The Chicago chapter of NIRI has elected 11 officers and directors for the 2024-2025 term, effective July 1 [1] Officers - Victor J. Jendras has been elected as Vice President of Membership, previously serving in multiple leadership roles within NIRI Chicago [3] - Maryellen T. Thielen has been elected as Vice President of Communications, with a history of leadership roles in NIRI Chicago [4] - Jeff Myers joins the board as a new member and co-chair of the 2024 IR Workshop committee, focusing on artificial intelligence [5] Departing Board Members - Michael A. Steele, a current board member and former chair, is departing along with other notable members such as Shawn C. Alcaraz and Christine J. Hanneman [7][8] Directors - Barbara Noverini has been elected as President, previously serving as executive vice president and receiving volunteer awards [10] - Brooks O. Rennie has been elected as Co-Executive Vice President, also serving on the NIRI Twin Cities board [12] - Julianna Paterra has been elected as Vice President of Programs, marking her first year on the board [13] NIRI National Recognition - NIRI Chicago provides professional development and networking opportunities for investor relations practitioners, emphasizing best practices in corporate disclosures and governance [16] - Barb Noverini highlighted the chapter's talent and encouraged participation in upcoming events, including the 2024 IR Workshop [17] Additional Board Members - Robert K. Cherry has been elected as Co-Executive Vice President and Treasurer, continuing his involvement from previous years [18] - Adam Dahl has been elected as Vice President of Sponsorship and Advocacy Ambassador, having served in various capacities [19] - Darla Rivera begins her first year on the board after active participation in IR Workshop committees [21]

OAK BROOK, Ill., May 29, 2024 (GLOBE NEWSWIRE) -- Portillo's Inc. (Nasdaq: PTLO) ("Portillo's" or the "Company"), the fast-casual restaurant concept known for its menu of Chicago-style favorites, today announced that CEO Michael Osanloo and CFO Michelle Hook will appear at the following investor conferences: On Tuesday, June 4, 2024, CEO Michael Osanloo and CFO Michelle Hook will present at William Blair's 44th Annual Growth Stock Conference at 10:20 a.m. Eastern Time. Investors may access the live webcast ...

Chicago Legends Collaborate for the Third Year in a Row on Legendary Italian Beef Deep Dish Pizza, Exclusively Available on TastesofChicago.com Portillo's Teams up with Coca-Cola on Italian Beef Sweepstakes to Offer Lollapalooza Tickets to One Lucky Winner CHICAGO, May 14, 2024 (GLOBE NEWSWIRE) -- In celebration of Italian Beef Week (May 20- 26), Portillo's – the famed and fast growing purveyor of unrivaled Chicago-style street food – is reuniting with fellow Windy-City giant, Lou Malnati's – Chicago pizza ...

Portillo's Inc. (NASDAQ:PTLO) Q1 2024 Results Conference Call May 7, 2024 10:00 AM ET Company Participants Barbara Noverini - Director, Investor Relations Michael Osanloo - President & Chief Executive Officer Michelle Hook - Chief Financial Officer Conference Call Participants David Tarantino - Baird Sharon Zackfia - William Blair Dennis Geiger - UBS Sara Senatore - Bank of America Brian Harbour - Morgan Stanley Andy Barish – Jefferies Brian Mullan - Piper Sandler Gregory Francfort - Guggenheim Securities O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10- Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 001-40951 PORTILLO'S INC. (Exact name of registrant as specified in its charter) Delaware 87-1104304 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 2001 Spring Road, Suite 400, Oak Brook, Illinois 60523 (Address of principal executive offices) (630) 954-3773 (Re ...

Portillo's Inc. Announces First Quarter 2024 Financial Results Chicago, IL— May 7, 2024—Portillo's Inc. ("Portillo's" or the "Company") (NASDAQ: PTLO), the fast-casual restaurant concept known for its menu of Chicago-style favorites, today reported financial results for the first quarter ended March 31, 2024. Michael Osanloo, President and Chief Executive Officer of Portillo's, said "It's an exciting time at Portillo's. We're proud of how we exited the quarter and will continue to build top-line momentum th ...

Financial Data and Key Metrics Changes - In Q4 2023, total sales increased by 24.5% to approximately $188 million, with same-restaurant sales growing by 4.4% and transactions increasing by 1.3% [4][41] - For the full year 2023, total sales rose by 15.8% to approximately $680 million, with same-restaurant sales growing by 5.7% and average unit volumes reaching $9.1 million per restaurant [30][41] - Restaurant-level adjusted EBITDA grew by 42.7% to $46 million in Q4 2023, with margins expanding by 310 basis points to 24.3% [4][118] - Operating cash flow increased by 24.4% to a record level of $70.8 million for the year [12][120] Business Line Data and Key Metrics Changes - Catering currently represents about 5% of overall revenue, with expectations for growth in this channel through marketing and expansion into new markets [33][152] - The company opened 12 new restaurants in 2023, including six in Q4, marking the highest number of openings in a single year [18][21] Market Data and Key Metrics Changes - The company reported strong performance in growth markets, particularly in Fort Worth, Texas, and Claremont, Florida, which opened successfully [20][21] - The company plans to enter the Houston market in 2024, with expectations for strong performance similar to the Dallas-Fort Worth area [21][132] Company Strategy and Development Direction - The company aims for long-term mid-teens revenue growth primarily through new restaurant openings while maintaining positive same-restaurant sales growth [24][30] - The focus remains on operational excellence, enhancing guest experiences, and strategic pricing actions to drive traffic and revenue [5][47] Management's Comments on Operating Environment and Future Outlook - Management acknowledged potential challenges in the operating environment, including consumer sentiment and weather impacts, but expressed confidence in the business's health and growth trajectory [42][93] - The company is committed to leveraging operational efficiencies and menu innovation to enhance margins and drive traffic [47][162] Other Important Information - Food, beverage, and packaging costs as a percentage of revenues decreased to 34.8% in Q4 2023, down from 35% in Q4 2022, despite a 4.4% increase in commodity prices [25][44] - Labor costs as a percentage of revenues decreased to 25.4% in Q4 2023 from 26.5% in Q4 2022, driven by increased revenue [44] Q&A Session Summary Question: Pricing strategy for 2024 - Management has not yet made decisions on pricing for 2024, emphasizing the need to assess consumer sentiment and competitive landscape before making adjustments [52] Question: Kitchen efficiency and operational improvements - Management highlighted ongoing efforts to improve kitchen efficiency and service speed, which are critical for driving traffic and enhancing customer experience [62][145] Question: Performance of new restaurant openings - New units are expected to initially perform below the average margin but are anticipated to improve as they mature [112] Question: Catering growth potential - Catering is seen as a significant growth opportunity, particularly in new markets, with plans to enhance marketing efforts in this area [151][152] Question: Advertising strategy in Chicago and other markets - Management plans to use advertising selectively, focusing on markets where it can drive traffic effectively, such as Chicago and potentially Arizona and Indiana [124][126]