Welcome to our dedicated page for Portillo's news (Ticker: PTLO), a resource for investors and traders seeking the latest updates and insights on Portillo's stock.
Portillo's Inc. Class A Common Stock (symbol: PTLO) is a renowned name in the fast-casual restaurant industry, celebrated for its Chicago-style menu offerings. Established in 1963 by Dick Portillo in Villa Park, Illinois, the company has grown from a single hot dog stand named 'The Dog House' into a nationally recognized chain.
Portillo’s restaurants are known for their high-energy ambiance and nostalgic theme, serving fresh, homemade food. The core menu includes classic Chicago-style hot dogs, Italian beef sandwiches, char-grilled burgers, and fresh salads. Their delicious desserts, like the famous chocolate cake and chocolate cake shake, have also garnered a loyal following.
As of recent developments, Portillo’s operates over 80 restaurants across ten states, with significant expansions in markets such as Arizona, Florida, and Texas. In 2023, the company achieved remarkable financial milestones, including a 15.8% revenue growth, driven by same-restaurant sales growth and the opening of 12 new locations. The company's strategic focus on operational excellence and impeccable service has resulted in a record operating cash flow and increased guest satisfaction.
Portillo's also operates two food production commissaries in Illinois, ensuring consistent quality and supply across their outlets. Their multi-channel approach, including dine-in, drive-thru, takeout, online ordering, and catering services, caters to a broad customer base.
Looking ahead, Portillo’s aims to sustain its growth trajectory, planning to open at least nine new restaurants in 2024 and targeting a long-term annual growth rate of 12-15%. The company's focus remains on enhancing guest experiences, strategic pricing, and maintaining operational efficiencies.
Portillo's commitment to delivering value to shareholders is evident through its disciplined development strategy and continuous efforts in operational excellence. For more information and the latest updates, visit their website.
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.
Portillo's Inc. (NASDAQ: PTLO) is piloting self-service kiosks in select Chicago and California restaurants. The initiative, in partnership with Bite, aims to enhance guest and Team Member experiences while optimizing operational efficiency. The 24-inch kiosks offer an additional ordering option, showcasing the full menu and potentially increasing check sizes.
Key points:
- Pilot locations in Downers Grove, IL, Chicago's River North, and California
- Kiosks designed to complement existing ordering channels
- Success metrics include line reduction, order accuracy, and satisfaction
- Technology integration focuses on enhancing the classic Portillo's experience
Portillo's Inc. (NASDAQ: PTLO) reported its Q2 2024 financial results, showing a 7.5% increase in total revenue to $181.9 million. The company experienced a 0.6% decrease in same-restaurant sales but saw improvements in operating income, Restaurant-Level Adjusted EBITDA, and Adjusted EBITDA. Key highlights include:
- Net income decreased by $1.4 million to $8.5 million
- Operating income increased by $0.7 million to $18.1 million
- Restaurant-Level Adjusted EBITDA rose by $1.8 million to $44.6 million
- Adjusted EBITDA increased by $0.6 million to $29.9 million
Portillo's opened two new restaurants in Q2 2024 and plans to open at least 10 new locations in 2024. The company updated its fiscal 2024 targets, projecting flat to slightly positive same-restaurant sales and maintaining its Restaurant-Level Adjusted EBITDA margin forecast of 23-24%.
Portillo's (Nasdaq: PTLO) will announce its second-quarter 2024 financial results on Tuesday, August 6, 2024, before the market opens. A live audio webcast will be held on the same day at 10:00 AM ET, hosted by CEO Michael Osanloo and CFO Michelle Hook. Investors can access the webcast and its replay on the company's investor relations website. Telephone access is available with toll-free and international dial-in options. A replay of the call will also be available via telephone.
Condado Tacos has announced Derrick Pratt as the new CEO, effective July 1, 2024. Pratt, with nearly 40 years of experience in the restaurant industry, previously served as COO at Portillo's (PTLO) and held significant roles at Starbucks (SBUX) and McDonald's (MCD).
Under Pratt's leadership at Portillo's, he drove key technology initiatives and led the company through a successful IPO in 2021. Condado Tacos, which has doubled its locations in the past three years, aims to leverage Pratt's expertise for its next growth phase.
Pratt is expected to focus on strategic expansion, operational processes, and people development at Condado Tacos, aligning with the company's vision and culture. Condado Tacos currently operates 50 locations across 10 states.
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