Portillo's Posts Q4 Earnings Beat, Plans 10 New Restaurants

Portillo's Inc. reported strong financial results for Q4 2024, achieving a 4.5% increase in total revenue to $710.6 million, despite a slight decline in same-restaurant sales. The company posted a GAAP profit of $0.17 per share, significantly exceeding analysts' expectations, and its revenue of $184.6 million was in line with projections. Portillo's plans to expand its footprint, having opened 10 new restaurants in 2024 and intending to open 12 more in 2025, particularly in the Sunbelt region. The company’s adjusted EBITDA also showed growth, and its annual core profit forecast has been raised due to higher menu prices. Investors are optimistic as the stock has increased by about 44.4% since the beginning of the year. Overall, the earnings outlook and expansion strategy contribute to positive sentiment around Portillo's future performance.