Shares of Portillo's Inc. (PTLO) surged 6.62% in pre-market trading on Tuesday, following the release of the company's fourth-quarter financial results.
The fast-casual restaurant chain reported revenue of $184.6 million for the quarter, meeting analysts' expectations. Portillo's also posted operating income of $13.8 million, net income of $12.4 million, and restaurant-level adjusted EBITDA of $45.2 million.
The strong Q4 performance, with revenue and profitability metrics exceeding Wall Street's forecasts, appears to be driving the stock's pre-market rally. Investors are likely encouraged by Portillo's ability to maintain growth and profitability during a challenging economic environment.
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