By Thomas Green
Portillo’s Inc. (Nasdaq: PTLO) said third quarter revenue rose 10.4% to $166.8 million as it added new restaurants.
The Chicago-style, fast-casual chain’s operating income increased $4.5 million to $15.1 million this quarter and Restaurant-Level Adjusted EBITDA increased $7.8 million to $41.9 million. Adjusted EBITDA increased $5.7 million to $27.3 million, it said.
The company plans to open five new restaurants in the fourth quarter, it said.
“With our consistent restaurant operations and ongoing execution of a disciplined development strategy, we feel great about our future,” said President and CEO Michael Osanloo. “We will continue to build fantastic restaurants, staffed with our amazing Team Members who create an unrivaled experience for our guests.”
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