Shares of Portillos Inc - Class A (PTLO) are trading -13% lower at a price of $24.82 at the time of this writing.
- Q2 revenue: $150.6 million, +7% increase from the year-ago, but below expectations
- Adjusted EBITDA margin fell 510 basis points from the prior year while operating income fell nearly 30% in the same period
- “During the quarter and two quarters ended June 26, 2022, we experienced unprecedented commodity inflation, with the largest increases in pork, chicken and beef prices,” the company explained. “Additionally, we experienced higher labor expenses during the second quarter and two quarters ended June 26, 2022 compared to the same periods last year primarily due to additional wage investments made in June 2021.”
Portillos Inc - Class A has been trading between a 52-week high of $57.73 and a 52-week low of $14.84. The stock has a market cap of $899 Million.
Portillo's Inc., through with its subsidiaries, engages in the ownership and operation of fast casual and quick service restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, chopped salads, burgers, crinkle-cut French fries, homemade chocolate cake, and milkshakes. As of June 27, 2021, it owned and operated 67 restaurants in Illinois, Arizona, Indiana, Florida, Iowa, Minnesota, Wisconsin, Michigan, and California.
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