Portillo's Q1-Q3 2024 – Sales Dip, Revenues Rise

By Bobby Samwell • Tuesday, October 08 15:25 • Permanent Link

In the first quarter of 2024, same-restaurant sales decreased by 1.2% compared to the same period in 2023, amounting to $138,166 compared to $139,775. However, the total net revenues for the same period increased by 6.3% to $165,831 from $156,061 in 2023.

Moving onto the second quarter of 2024, same-restaurant sales decreased by 0.6% compared to the second quarter of 2023, amounting to $154,646 compared to $155,631. However, the total net revenues for the same period increased by 7.5% to $181,862 from $169,182 in 2023.

For the first two quarters of 2024, same-restaurant sales decreased by 0.9%, totaling $292,812 compared to $295,406 in 2023. Despite this decrease, the total net revenues for the same period increased by 6.9% to $347,693 from $325,242 in 2023.

Looking at the third quarter of 2023, same-restaurant sales amounted to $152,212, with a total net revenue of $166,805.

For the first three quarters of 2023, same-restaurant sales amounted to $447,618, with a total net revenue of $492,047.

In the fourth quarter of 2023, same-restaurant sales reached $153,957, with a total net revenue of $187,858.

For the fiscal year 2023, same-restaurant sales amounted to $601,575, with a total net revenue of $679,905.

Following these announcements, the company's shares moved 1.1%, and are now trading at a price of $12.49. For the full picture, make sure to review Portillo's's 8-K report.

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