By Nicholas G. Miller
Shares of Portillo's fell after the company reported lower-than-expected second-quarter sales and lowered its full-year revenue outlook.
The stock was down 17% at $7.88 and is 16% lower so far this year.
The restaurant chain reported earnings of $8.7 million, or 12 cents a share, in line with analysts' expectations according to FactSet, and up from $6.5 million, or 10 cents a share, from the year prior.
The company reported $188.5 million in sales, up from $181.9 million the previous year. Wall Street expected $195.8 million.
Same-store sales rose 0.7%, below the 1.1% that Wall Street had expected.
Portillo's, which serves burgers and Italian beef, said it has been affected by record-high beef prices and reduced customer traffic.
The company lowered its full-year revenue growth forecast to 5% to 7%, from 10% to 12% previously.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
August 05, 2025 12:43 ET (16:43 GMT)
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