Portillos Stock Slides On Q3 EPS Miss, Margin Pressure

  • Portillos Inc 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.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!