NASDAQ$PTLO
Portillo's Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results for the third quarter ended September 29, 2024.
Portillo's Inc. reported a 6.9% increase in total revenue, reaching $178.3 million, while same-restaurant sales decreased by 0.9%. The company maintained profitability and focused on strategic pillars for long-term growth.
- Total revenue increased by 6.9% to $178.3 million.
- Same-restaurant sales decreased by 0.9%.
- Operating income increased to $16.0 million.
- Net income increased to $8.8 million.
Headline financials
Revenue & EPS history
Portillo's · Revenue · Quarterly
$178M
Forward guidance
Portillo's provided updated financial targets for 2024, anticipating 10 new units, approximately (1.0%) same-restaurant sales, mid-single digits commodity inflation, approximately 3.0% labor inflation, 23% - 24% restaurant-level adjusted EBITDA margin, $78 - $80 million in general and administrative expenses, $10.0 - $10.5 million in pre-opening expenses, and $85 - $88 million in capital expenditures.
Tailwinds
- Unit growth target maintained at 10 new units.
- Restaurant-level adjusted EBITDA margin target remains at 23% - 24%.
- General and administrative expenses are projected to be $78 - $80 million.
- Pre-opening expenses are projected to be $10.0 - $10.5 million.
- Capital expenditures are projected to be $85 - $88 million.
Headwinds
- Same-restaurant sales are expected to be approximately (1.0%).
- Commodity inflation is expected to be in the mid-single digits.
- Labor inflation is expected to be approximately 3.0%.
- Unable to reconcile long-term outlook for restaurant-level adjusted EBITDA margin to operating income/loss margin.
- Unable to reconcile the long-term outlook for adjusted EBITDA growth to net income/loss.
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 Q3 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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