The following is a summary of the Portillo's Inc. (PTLO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 revenue increased by 6.9% to $178.3 million, driven by new restaurant openings.

• Restaurant level adjusted EBITDA was $27.9 million, with margins at 23.5% despite a top-line challenge. This reflects a disciplined approach to cost management.

• Comp sales for the full year are expected to be approximately -1%.

• General and Administrative expenses were effectively managed, decreasing to $18.3 million from $18.9 million year-over-year.

Business Progress:

• Portillo's has fully deployed kiosks across all restaurants, enhancing guest experience and operational efficiency.

• Opened the first restaurant in the Houston area, with plans to open 5 more this year. A total of 10 new restaurants planned for this year.

• Developing 'restaurants of the future' which are more efficient in size and cost, expected to open later this quarter in Texas.

Opportunities:

• The successful rollout of ordering kiosks across all restaurants is expected to improve customer transactions and service efficiency.

• Expansion into Houston and plans for further growth in the Sun Belt area, aiming for a 12% to 15% increase in restaurant count next year.

Risks:

• The company faces negative comp sales trends and an intensely competitive discounting environment in the industry which impacts transaction volumes.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.