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Portillo's (PTLO) To Report Earnings Tomorrow: Here Is What To Expect


Adam Hejl /
2024/05/06 3:01 am EDT

Casual restaurant chain Portillo’s (NASDAQ:PTLO) will be reporting results tomorrow before market open. Here's what to look for.

Portillo's beat analysts' revenue expectations by 2% last quarter, reporting revenues of $187.9 million, up 24.5% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' earnings estimates.

Is Portillo's a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Portillo's revenue to grow 12.1% year on year to $174.9 million, slowing from the 16% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.

Portillo's Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Portillo's has missed Wall Street's revenue estimates six times over the last two years.

Looking at Portillo's peers in the traditional fast food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Starbucks's revenues decreased 1.8% year on year, missing analysts' expectations by 6.5%, and El Pollo Loco reported revenues up 1.4%, topping estimates by 4.6%. Starbucks traded down 15.9% following the results while El Pollo Loco was up 16.5%.

Read our full analysis of Starbucks's results here and El Pollo Loco's results here.

Investors in the traditional fast food segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Portillo's is down 10.5% during the same time and is heading into earnings with an average analyst price target of $20.2 (compared to the current share price of $11.98).

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