From GlobeNewswire: 2025-02-25 08:00:00

Portillo’s Inc. reported financial results for Q4 2024 and fiscal year 2024, with total revenue increasing by 4.5% to $710.6 million. Same-restaurant sales decreased by 0.6%, while net income rose to $35.1 million. In Q4 2024, total revenue decreased by 1.7%, with net income increasing to $12.4 million.

Development Highlights show that Portillo’s opened 10 new restaurants in fiscal year 2024, focusing on markets outside Chicagoland. The company plans to open 12 new restaurants in fiscal 2025, primarily in the Sunbelt region, with a goal of entering the Atlanta market.

Financial targets for fiscal year 2025 include unit growth of 12 new units, flat to +2% same-restaurant sales, revenue growth of 11-12%, and adjusted EBITDA growth of 6-8%. Long-term financial targets include annual unit growth of 12-15% and low teens adjusted EBITDA growth.

Adjusted EBITDA for Q4 2024 was $25.2 million, a decrease of 3.6% compared to Q4 2023. Restaurant-Level Adjusted EBITDA for Q4 2024 was $45.2 million, down 1.1% from Q4 2023. Adjusted EBITDA Margin for Q4 2024 was 13.7%, while Restaurant-Level Adjusted EBITDA Margin was 24.5%.

Portillo’s uses non-GAAP measures like Adjusted EBITDA and Restaurant-Level Adjusted EBITDA to evaluate performance. Adjusted EBITDA represents net income before certain items, while Restaurant-Level Adjusted EBITDA is revenue less restaurant operating expenses. Both measures provide insight into operating performance.



Read more at GlobeNewswire:: Portillo’s Inc. Announces Fourth Quarter and Fiscal Year