NASDAQ$PTLO
Portillo's Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results with sequential improvement in revenue and margin, prioritizing sales and transaction growth.
Portillo's Inc. reported a 7.5% increase in total revenue to $181.9 million, driven by new restaurant openings. However, same-restaurant sales decreased by 0.6%. Operating income rose to $18.1 million, while net income decreased to $8.5 million. The company is on track to open at least 10 restaurants in 2024 and successfully lower the build costs.
- Total revenue increased by 7.5% to $181.9 million.
- Same-restaurant sales decreased by 0.6%.
- Operating income increased to $18.1 million.
- Net income decreased to $8.5 million.
Headline financials
Revenue & EPS history
Portillo's · Revenue · Quarterly
$182M
Forward guidance
Portillo's provided updated financial targets for 2024.
Tailwinds
- Unit growth target increased to 10+ new units.
- Same-restaurant sales expected to be flat to slightly positive.
- Commodity inflation expected to remain in the mid-single digits.
- Labor inflation expected to remain in the mid-single digits.
- General and administrative expenses are projected to be $82 - $84 million
Headwinds
- Pre-opening expenses are projected to be $10.0 - $10.5 million.
- Capital expenditures are projected to be $85 - $88 million.
- Restaurant-level adjusted EBITDA margin expected to remain at 23% - 24%.
- Unspecified variability and difficulty in making accurate forecasts and projections.
- Inability to reconcile the long-term outlook for restaurant-level adjusted EBITDA margin to operating income/loss margin.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-2.6%
Avg return
Earnings day
-6.0%
Avg return
5 days after
-11.4%
Avg return
30 days after
43%
10 / 23 earnings
Positive
+11.8%
Q4 2023
Best reaction
-17.5%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -16.5% | -25.0% | -33.7% | |
| Q4 2025 | -7.1% | -7.8% | -7.1% | |
| Q3 2025 | -7.4% | -5.7% | -5.5% | |
| Q1 2025 | +1.0% | +8.1% | +8.1% | |
| Q4 2024 | +9.8% | +2.9% | -8.3% | |
| Q3 2024 | -3.7% | -8.3% | -23.4% | |
| Q2 2024 | +11.5% | +20.6% | +34.6% | |
| Q1 2024 | -14.7% | -16.6% | -16.9% | |
| Q4 2023 | +11.8% | +3.7% | +3.1% | |
| Q3 2023 | +9.0% | +2.5% | +5.2% | |
| Q2 2023 | -13.1% | -14.5% | -18.3% | |
| Q1 2023 | -11.4% | -10.8% | -10.9% | |
| Q4 2022 | -0.5% | -2.1% | -4.4% | |
| Q3 2022 | +5.0% | +7.9% | -4.0% | |
| Q2 2022 | +10.0% | +2.5% | -9.6% | |
| Q2 2021 | +10.0% | +2.5% | -9.6% | |
| Q1 2021 | +7.7% | -4.0% | -8.0% | |
| Q1 2022 | +7.7% | -4.0% | -8.0% | |
| Q4 2021 | -7.8% | -5.2% | -10.4% | |
| Q4 2019 | -7.8% | -5.2% | -10.4% | |
| Q3 2020 | -17.5% | -26.4% | -41.5% | |
| Q4 2020 | -17.5% | -26.4% | -41.5% | |
| Q3 2021 | -17.5% | -26.4% | -41.5% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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