CHICAGO, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Portillo’s (NASDAQ: PTLO), the fast-casual restaurant concept known for its menu of Chicago-style favorites, today announced the appointment of Jack Hartung, President and Chief Strategy Officer at Chipotle, to Portillo’s Board of Directors, effective immediately. "Jack Hartung has been a pioneer of the fast casual restaurant sector and an architect behind one of its greatest success stories. His experience driving operating excellence and developing restaurants wi ...

CHICAGO, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Portillo's (NASDAQ:PTLO), the fast-casual restaurant concept known for its menu of Chicago-style favorites, today announced the appointment of Jack Hartung, President and Chief Strategy Officer at Chipotle, to Portillo's Board of Directors, effective immediately. "Jack Hartung has been a pioneer of the fast casual restaurant sector and an architect behind one of its greatest success stories. His experience driving operating excellence and developing restaurants wit ...

There's no doubt that Portillo's (NASDAQ: PTLO ) is a fast-casual restaurant chain that's growing very quickly. Not long ago, its footprint was limited to Chicagoland, but that changed threeI'm an Equity Analyst and Accountant specializing in restaurant stocks, with a strong foundation in Business Administration and Accounting, complemented by an MBA in Forensic Accounting and Controllership. As the founder of Goulart's Restaurant Stocks, I lead a company focused on analyzing restaurant stocks in the U.S. m ...

Core Insights - Portillo's has appointed Tony Darden as Chief Operating Officer to enhance operations and support national growth [1][2][4] - Darden brings over 30 years of experience in the restaurant industry, having previously served as COO at Jack in the Box and held leadership roles at other notable restaurant chains [2][3] - The company aims to operate up to 920 locations, including new formats like Portillo's Pick-Up, while maintaining its commitment to quality and service [3] Company Overview - Portillo's was founded in 1963 and has grown to over 80 restaurants across 10 states, known for its Chicago-style hot dogs and other menu items [5] - The brand is set to open its first "Restaurant of the Future" in Grapevine, Texas, featuring a more efficient design and modern service elements [3]

OAK BROOK, Ill., Nov. 22, 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, November 26, 2024, CEO Michael Osanloo and CFO Michelle Hook will present at Furey Research Partners Hidden Gems Conference at 9:00 a.m. Eastern Time. A copy of the presentation to be used ...

The restaurant chain saw same-store sales drop just as expansion plans kicked into gear.Portillo's (PTLO -0.89%) has big growth plans as it expands in the Sun Belt. But as those restaurants are built, the company is seeing sales at existing stores slip. Travis Hoium digs into what's going on at Portillo's and in the restaurant industry broadly in 2024.*Stock prices used were end-of-day prices of Nov. 5, 2024. The video was published on Nov. 5, 2024. ...

. . .. | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements discuss our current expectations and ...

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 FOR THE QUARTERLY PERIOD ENDED September 29, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO 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 incorpo ...

Revenue and Sales Performance - Total revenue for Q3 2024 increased by 6.9% or $11.4 million to $178.3 million compared to Q3 2023[2] - Same-restaurant sales decreased by 0.9%, with a 3.5% decline in transactions partially offset by a 2.6% increase in average check[7] - Revenues for the quarter ended September 29, 2024, were $178,252,000, representing a 6.3% increase from $166,805,000 in the same quarter of the previous year[29] - Net income for the quarter ended September 29, 2024, was $8,773,000, compared to $6,546,000 for the same quarter in 2023, representing a 33.9% increase[44] - Net income attributable to Portillo's Inc. for the quarter was $7,220,000, a 65.5% increase from $4,361,000 in the same quarter last year[30] Operating Income and Expenses - Operating income rose by $0.9 million to $16.0 million, while net income increased by $2.2 million to $8.8 million[11][12] - Total restaurant operating expenses increased by 9.1% to $136.3 million, driven by new restaurant openings and a 3.6% rise in commodity prices[9] - Operating income for the quarter was $15,988,000, representing 9.0% of revenues, compared to $15,097,000 or 9.1% in the prior year[30] - General and administrative expenses for the quarter were $18,305,000, down from $18,898,000 in the previous year, showing a decrease of 3.1%[45] - Interest expense for the quarter was $6,450,000, slightly down from $6,573,000 in the same quarter last year[30] EBITDA and Margins - Restaurant-Level Adjusted EBITDA remained stable at $41.9 million, while Adjusted EBITDA increased by $0.6 million to $27.9 million, a 2.3% rise[13] - Adjusted EBITDA for the quarter was $27,911,000, up from $27,285,000 year-over-year, indicating a growth of 2.3%[44] - The Adjusted EBITDA Margin for the quarter was 15.7%, down from 16.4% in the same quarter last year[44] - Restaurant-Level Adjusted EBITDA reached $41,946,000 for the quarter, slightly increasing from $41,885,000 in the previous year, reflecting a 0.1% rise[45] - The Restaurant-Level Adjusted EBITDA Margin was 23.5% for the quarter, a decrease from 25.1% year-over-year[45] Growth and Expansion Plans - The company opened four new restaurants in 2024 and plans to open five more in December, totaling ten new locations for the fiscal year[14] - The company plans to continue its growth strategy, focusing on opening new restaurant locations in existing and new markets[29] - Long-term financial targets project unit growth of 12% - 15% and revenue growth in the mid-teens[17] Financial Position and Assets - Total assets increased to $1,471,419,000 as of September 29, 2024, compared to $1,385,541,000 on December 31, 2023, representing a growth of 6.2%[31] - Total current liabilities rose to $124,288,000 as of September 29, 2024, from $104,913,000 on December 31, 2023, marking an increase of 18.4%[31] - Total stockholders' equity attributable to Portillo's Inc. increased to $382,441,000 as of September 29, 2024, from $322,379,000 at the end of 2023, reflecting a growth of 18.6%[31] Cost and Inflation - Commodity inflation for Q3 2024 was 3.6%, slightly up from 3.5% in Q3 2023, with labor inflation expected to be approximately 3.0%[5][16] - Total food, beverage, and packaging costs were $60,136,000, which is 33.7% of revenues, compared to 33.3% in the previous year[30] - Labor costs increased to $45,945,000, representing 25.8% of revenues, compared to 25.5% in the same quarter last year[30] Quarterly Performance Overview - Net income for the three quarters ended September 29, 2024, was $22,647,000, up from $15,171,000 for the same period in the previous year, reflecting a year-over-year increase of 49.5%[32] - Adjusted EBITDA for the three quarters ended September 29, 2024, was $79,554,000, compared to $76,140,000 for the same period in 2023, indicating a growth of 3.2%[34] - Same-restaurant sales decreased by 0.9% for the three quarters ended September 29, 2024, compared to an increase of 6.1% for the same period in the previous year[34] - Restaurant-Level Adjusted EBITDA for the three quarters ended September 29, 2024, was $122,886,000, compared to $119,435,000 for the same period in 2023, showing an increase of 2.1%[34] - Net cash provided by operating activities for the three quarters ended September 29, 2024, was $71,954,000, compared to $53,570,000 for the same period in 2023, representing an increase of 34.3%[32]

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 l ...