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- Portillos Inc (NASDAQ:PTLO) reported third-quarter FY21 revenue growth of 15.3% year-on-year, to $138 million, versus the analyst consensus of $138.05 million.
- Same-restaurant sales increased 6.8%, attributable to an increase in average check of 7.9%, partially offset by a decline in traffic.
- Total operating expenses rose 21.9% Y/Y to $103.7 million.
- The operating margin contracted 330 basis points to 12.5%, while operating income for the quarter rose 8.8% to $17.2 million.
- Adjusted EBITDA declined 8.4% to $24.2 million, and the adjusted EBITDA margin of 17.5% fell 460 basis points.
- EPS of $0.01 missed the analyst consensus of $0.08.
- The company held $49.4 million in cash and equivalents as of September 26, 2021. Cash provided by operating activities for the nine months totaled $39.8 million.
- Price Action: PTLO shares are trading lower by 8.78% at $49.46 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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