Casual restaurant chain Portillo’s (NASDAQ:PTLO) will be announcing earnings results this Tuesday before market open. Here’s what to expect.
Portillo's met analysts’ revenue expectations last quarter, reporting revenues of $185.7 million, flat year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and same-store sales in line with analysts’ estimates.
Is Portillo's a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Portillo’s revenue to grow 3.9% year on year, slowing from the 6.4% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days.
Looking at Portillo’s peers in the restaurants segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Chipotle delivered year-on-year revenue growth of 7.4%, beating analysts’ expectations by 0.5%, and Wingstop reported revenues up 7.4%, falling short of estimates by 2.4%. Chipotle traded up 1.8% following the results while Wingstop was down 5.2%.
Read our full analysis of Chipotle’s results here and Wingstop’s results here.
There has been positive sentiment among investors in the restaurants segment, with share prices up 3.1% on average over the last month. Portillo's is up 13.2% during the same time and is heading into earnings with an average analyst price target of $7.71 (compared to the current share price of $6.38).
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