By Karen Roman
Chicago-style chain Portillo’s Inc. (Nasdaq: PTLO) said total revenue rose 6.9% to $178.3 million for the third quarter, while net income increased $2.2 million to $8.8 million.
Earnings per share were $0.11, increasing 83.33% from the prior-year quarter and above analysts’ estimates, the company said.
Adjusted EBITDA grew $0.6 million to reach $27.9 million and same-restaurant sales fell 0.9%, it said.
“While our top line results for the quarter fell short of expectations, I’m proud of how our team protected margins and drove cash flow,” said Michael Osanloo, Portillo’s President and CEO. “We’re profitable, we’re controlling the levers we can, and we’re positioned for lasting, long-term growth.”
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