Portillo'S Inc. Stock Price, News & Analysis

Portillo's Inc. (NASDAQ: PTLO) has reported its financial results for Q4 and fiscal year 2024. The company showed mixed performance with total revenue decreasing 1.7% to $184.6 million in Q4, but increasing 4.5% to $710.6 million for the full fiscal year.

Q4 same-restaurant sales increased 0.4%, while fiscal year same-restaurant sales decreased 0.6%. The company's net income showed improvement, increasing by $2.8 million to $12.4 million in Q4 and by $10.3 million to $35.1 million for the full year.

In fiscal 2024, Portillo's opened 10 new restaurants across Arizona, Florida, Illinois, Michigan, and Texas markets, bringing its total to 94 locations. The company plans to open 12 new restaurants in fiscal 2025, focusing on markets outside Chicagoland with favorable economic conditions, particularly in the Sunbelt region and Texas, with plans to enter the Atlanta market.

To address inflationary pressures, Portillo's implemented several menu price increases throughout 2024, including a 1.5% increase in January, another 1.5% in March, and 1.0% in June, followed by an additional 1.5% increase in January 2025.

Portillo's (Nasdaq: PTLO), a fast-casual restaurant chain specializing in Chicago-style favorites, has scheduled its fourth quarter 2024 financial results announcement for Tuesday, February 25, 2025, before market opening. The company will host a live audio webcast at 10:00 AM ET on the same day, featuring President and CEO Michael Osanloo and CFO Michelle Hook.

The webcast will be accessible through the company's investor relations website at investors.portillos.com, with a replay available afterward. Investors can also participate via telephone by dialing 1 (877) 407-3982 (toll-free) or 1 (201) 493-6780 (international). A telephone replay will be available using passcode 13741636.

Portillo's (NASDAQ: PTLO), a fast-casual restaurant known for Chicago-style favorites, announced the appointment of Jack Hartung to its Board of Directors, effective immediately. Hartung, currently President and Chief Strategy Officer at Chipotle, brings extensive experience in the fast-casual dining sector. He played a pivotal role at Chipotle, serving as CFO for 22 years and helping guide the company through its 2006 IPO and subsequent growth from under 500 to over 3,600 locations, delivering a 60x return to shareholders.

Prior to Chipotle, Hartung held various management positions at McDonald's , ultimately serving as VP and CFO of its Partner Brands Group. He also serves on the Boards of The Honest Company and Zocdoc. Hartung expressed admiration for Portillo's transformation from a Chicago icon to a national brand, emphasizing his commitment to maintaining high standards and unique culture.

With his addition, Portillo’s Board now comprises eight directors, seven of whom are independent. The company believes Hartung’s expertise will be invaluable as they accelerate growth in new markets across the country.

Portillo's (NASDAQ: PTLO) has appointed Tony Darden as Chief Operating Officer, effective December 9, 2024. Darden, bringing over 30 years of multi-unit restaurant experience, joins from Jack in the Box where he oversaw 2,200 locations. He previously held leadership positions at MOOYAH Burgers, Taco Bueno, Sun Holdings, and Panera Bread. In his new role, Darden will oversee operational strategy as Portillo's pursues its target of 920 locations. The company is set to open its first 'Restaurant of the Future' in Grapevine, Texas, featuring a smaller, more efficient design with kiosks and a Grab and Go area.

Portillo's Inc. (PTLO), the fast-casual restaurant chain specializing in Chicago-style favorites, has announced its participation in three upcoming investor conferences. CEO Michael Osanloo and CFO Michelle Hook will present at the Furey Research Partners Hidden Gems Conference on November 26, 2024. Hook will lead a fireside chat at Morgan Stanley's Global Consumer & Retail Conference on December 3, 2024. Both executives will then present at the 2025 ICR Conference on January 14, 2025. Presentation materials will be available on the company's investor website, and in-person investor meetings will be conducted during the conferences.

Portillo's (NASDAQ: PTLO) reported Q3 2024 financial results with mixed performance. Total revenue increased 6.9% to $178.3 million, while same-restaurant sales decreased 0.9%. Net income rose by $2.2 million to $8.8 million. The company faced challenges with a 3.5% decrease in transactions, partially offset by a 2.6% increase in average check driven by menu price increases. Portillo's opened four new restaurants during the first three quarters of 2024, with plans to open five more by year-end. The company updated its 2024 guidance, projecting approximately -1.0% same-restaurant sales and maintaining its Restaurant-Level Adjusted EBITDA margin target of 23-24%.

Portillo's Inc. (Nasdaq: PTLO), a fast-casual restaurant chain known for Chicago-style favorites, has announced its plans to release third quarter 2024 financial results on Tuesday, November 5, 2024, before the market opens. The company will host a live audio webcast at 10:00 AM ET on the same day, featuring President and CEO Michael Osanloo and CFO Michelle Hook.

Investors can access the webcast through Portillo's investor relations website at investors.portillos.com. A replay will be available shortly after the event concludes. Additionally, investors can listen via telephone by dialing 1 (877) 407-3982 (toll-free) or 1 (201) 493-6780 (international). A telephone replay will be accessible using the passcode 13741636.

Portillo's Inc. (Nasdaq: PTLO), the fast-casual restaurant chain famous for Chicago-style favorites, has announced its participation in the upcoming Piper Sandler Growth Frontiers Conference. The event is scheduled for September 10-11, 2024.

Key details include:

• CEO Michael Osanloo and CFO Michelle Hook will represent Portillo's
• They will present and host investor meetings
• A live audio webcast of the Company's presentation will be available on September 11 at 12:00pm ET
• Interested investors can access the webcast at investors.portillos.com

This conference provides Portillo's an opportunity to engage with investors and showcase its growth strategy in the competitive fast-casual restaurant sector.

Portillo's, the Chicago-style fast-casual restaurant chain, is launching its first new cake flavor in 20 years - the Salted Caramel Spice Cake. Available nationwide from August 27, 2024, this seasonal treat combines salty, sweet, and spicy flavors in two layers of moist spice cake with salted caramel frosting. It can be enjoyed by the slice, as a whole cake, or in Portillo's Cake Shake.

To celebrate 'Spice-tember', Portillo's is offering a $1 slice of the new cake with any entrée purchase for dine-in or drive-thru orders throughout September. This promotion is available at participating locations in select states, with some restrictions.