Portillos Inc
For the period ended Sep 29, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 29, 2024 · Filed Nov 5, 2024
PTLO$6.98+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
PORTILLO'S INC
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except share and per share data)
| Quarter Ended | Three Quarters Ended | |||
|---|---|---|---|---|
| September 29, 2024 | September 24, 2023 | September 29, 2024 | September 24, 2023 | |
| REVENUES, NET | $178,252 | $166,805 | $525,945 | $492,047 |
| COST AND EXPENSES: | ||||
| Restaurant operating expenses: | ||||
| Food, beverage and packaging costs | 60,136 | 55,551 | 178,809 | 165,407 |
| Labor | 45,945 | 42,588 | 135,659 | 126,200 |
| Occupancy | 9,172 | 8,210 | 27,723 | 24,898 |
| Other operating expenses | 21,053 | 18,571 | 60,868 | 56,107 |
| Total restaurant operating expenses | 136,306 | 124,920 | 403,059 | 372,612 |
| General and administrative expenses | 18,305 | 18,898 | 54,786 | 57,285 |
| Pre-opening expenses | 1,747 | 2,410 | 5,270 | 5,029 |
| Depreciation and amortization | 6,679 | 6,178 | 20,729 | 17,788 |
| Net income attributable to equity method investment | (383) | (422) | (923) | (1,010) |
| Other income, net | (390) | (276) | (1,176) | (630) |
| OPERATING INCOME | 15,988 | 15,097 | 44,200 | 40,973 |
| Interest expense | 6,450 | 6,573 | 19,583 | 20,539 |
| Interest income | (50) | (116) | (204) | (116) |
| Tax Receivable Agreement liability adjustment | (1,724) | (528) | (2,724) | (1,691) |
| Loss on debt extinguishment | — | — | — | 3,465 |
| INCOME BEFORE INCOME TAXES | 11,312 | 9,168 | 27,545 | 18,776 |
| Income tax expense | 2,539 | 2,622 | 4,898 | 3,605 |
| NET INCOME | 8,773 | 6,546 | 22,647 | 15,171 |
| Net income attributable to non-controlling interests | 1,553 | 2,185 | 4,395 | 4,536 |
| NET INCOME ATTRIBUTABLE TO PORTILLO'S INC. | $7,220 | $4,361 | $18,252 | $10,635 |
| Net income per common share attributable to Portillo's Inc.: | ||||
| Basic | $0.12 | $0.08 | $0.30 | $0.20 |
| Diluted | $0.11 | $0.07 | $0.29 | $0.19 |
| Weighted-average common shares outstanding: | ||||
| Basic | 61,921,564 | 55,127,133 | 60,336,488 | 53,231,086 |
| Diluted | 64,894,558 | 58,767,812 | 63,347,715 | 56,813,653 |
PORTILLO'S INC
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(In thousands, except share data)
| Quarter Ended September 29, 2024 and September 24, 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock · Class B Common Stock | ||||||||
| Shares | Amount | Shares | Amount | Additional Paid-in Capital | Retained Earnings | Non-Controlling Interest | Total Stockholders' Equity | |
| Balance at June 25, 2023 | 55,073,993 | $551 | 17,472,926 | $— | $301,622 | $1,462 | $132,821 | $436,456 |
| Net income | — | — | — | — | — | 4,361 | 2,185 | 6,546 |
| Equity-based compensation | — | — | — | — | 3,275 | — | 1,049 | 4,324 |
| Activity under equity-based compensation plans | 108,148 | 1 | — | — | 400 | — | — | 401 |
| Non-controlling interest adjustment | — | — | — | — | 218 | — | (218) | — |
| Balance at September 24, 2023 | 55,182,141 | 552 | 17,472,926 | — | 305,515 | 5,823 | 135,837 | 447,727 |
| Balance at June 30, 2024 | 61,739,874 | 617 | 11,640,555 | — | 344,937 | 24,644 | 93,924 | 464,122 |
| Net income | — | — | — | — | — | 7,220 | 1,553 | 8,773 |
| Equity-based compensation | — | — | — | — | 2,940 | — | 566 | 3,506 |
| Activity under equity-based compensation plans | 416,652 | 4 | — | — | 1,522 | — | — | 1,526 |
| Redemption of LLC Interests | 66,763 | 1 | (66,763) | — | (1) | — | — | — |
| Non-controlling interest adjustment | — | — | — | — | 892 | — | (892) | — |
| Establishment of liabilities under Tax Receivable Agreement and related changes to deferred tax assets associated with increases in tax basis | — | — | — | — | (335) | — | — | (335) |
| Balance at September 29, 2024 | 62,223,289 | $622 | 11,573,792 | $— | $349,955 | $31,864 | $95,151 | $477,592 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.