Portillo's shares rose 17% due to better-than-expected 2023 financial results, including 15.8% revenue growth to $679.9m and increased operating income.

Portillo's shares rose 17% on Tuesday after the restaurant chain reported better-than-expected financial results for 2023, with revenue increasing 15.8% to $679.9m and operating income rising $14.2m to $55.4m. The company opened 12 new locations in 2023 and aims to open at least nine more in 2024, representing about 11% growth. Portillo's also saw strong consumer demand, with menu prices up 6% year over year and transactions up by 1.3%.

February 27, 2024
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