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Factors Setting the Tone for Portillo's (PTLO) Q1 Earnings
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Portillo's Inc. (PTLO - Free Report) is scheduled to report first-quarter 2024 results on May 7, before the opening bell. In the last reported quarter, the company’s bottom line beat the Zacks Consensus Estimate by 160%.
Q1 Estimates
The Zacks Consensus Estimate for earnings per share (EPS) is pegged at 5 cents, indicating no change from the year-ago reported figure. In the past seven days, the consensus estimate for current-quarter earnings has remained stable. The Zacks Consensus Estimate for revenues is pegged at $174.1 million, suggesting growth of 11.5% from $156.1 million in the prior-year quarter.
Factors to Note
The company’s top line is likely to have benefited from effective advertising efforts in the Chicagoland area, contributing to improved traffic and mix components. Menu innovation, including the introduction of two new salads to the permanent menu, is expected to have driven sales growth by attracting customers and enhancing overall menu appeal.
An increase in menu pricing and expansion efforts also bode well for the company. An improvement in average check and transactions are likely to have aided the company’s same-restaurant sales. Despite inflationary pressures on food basket and labor costs, management is confident in its ability to manage margins. However, inclement weather is expected to negatively impact PLTO’s results.
In the past three months, the company’s shares have declined 7.9% compared with the industry’s decrease of 2.5%. The decline can be attributed to weather related woes.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Portillo's this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Portillo's has an Earnings ESP (difference between the Most Accurate Estimate and the Zacks Consensus Estimate) of +4.76%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Portillo's currently carries a Zacks Rank #3.
Here are some other stocks worth considering from the Zacks Retail-Wholesale space, as our model shows that these, too, have the right combination of elements to beat on earnings this season.
Performance Food Group (PFGC - Free Report) currently has an Earnings ESP of +1.56% and a Zacks Rank #2. The consensus mark for revenues is pegged at $14.21 billion, indicating an increase of 3.2% from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EPS is pegged at 83 cents, suggesting to remain flat from the year-ago quarter. Performance Food Group has a trailing four-quarter earnings surprise of 4.8%, on average.
Ross Stores (ROST - Free Report) currently has an Earnings ESP of +0.34% and carries a Zacks Rank #3. The Zacks Consensus Estimate for EPS is pegged at $1.34, which suggests an increase of 22.9% from the prior-year actuals.
The Zacks Consensus Estimate for quarterly revenues is pegged at $4.82 billion, which indicates a rise of 7.3% from the year-earlier levels. ROST has a trailing four-quarter earnings surprise of 9.1%, on average.
Ollie's Bargain (OLLI - Free Report) currently has an Earnings ESP of +0.77% and a Zacks Rank of 3. The Zacks Consensus Estimate for quarterly EPS of 65 cents implies an increase of 32.7% from the year-ago reported number.
The Zacks Consensus Estimate for quarterly revenues is pegged at $503.8 million, implying a jump of 9.7% from the prior-year quarter. OLLI has a trailing four-quarter earnings surprise of 7.3%, on average.
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Factors Setting the Tone for Portillo's (PTLO) Q1 Earnings
Portillo's Inc. (PTLO - Free Report) is scheduled to report first-quarter 2024 results on May 7, before the opening bell. In the last reported quarter, the company’s bottom line beat the Zacks Consensus Estimate by 160%.
Q1 Estimates
The Zacks Consensus Estimate for earnings per share (EPS) is pegged at 5 cents, indicating no change from the year-ago reported figure. In the past seven days, the consensus estimate for current-quarter earnings has remained stable. The Zacks Consensus Estimate for revenues is pegged at $174.1 million, suggesting growth of 11.5% from $156.1 million in the prior-year quarter.
Factors to Note
The company’s top line is likely to have benefited from effective advertising efforts in the Chicagoland area, contributing to improved traffic and mix components. Menu innovation, including the introduction of two new salads to the permanent menu, is expected to have driven sales growth by attracting customers and enhancing overall menu appeal.
An increase in menu pricing and expansion efforts also bode well for the company. An improvement in average check and transactions are likely to have aided the company’s same-restaurant sales. Despite inflationary pressures on food basket and labor costs, management is confident in its ability to manage margins. However, inclement weather is expected to negatively impact PLTO’s results.
In the past three months, the company’s shares have declined 7.9% compared with the industry’s decrease of 2.5%. The decline can be attributed to weather related woes.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Portillo's this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Portillo's has an Earnings ESP (difference between the Most Accurate Estimate and the Zacks Consensus Estimate) of +4.76%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Portillo's currently carries a Zacks Rank #3.
Portillo's Inc. Price and EPS Surprise
Portillo's Inc. price-eps-surprise | Portillo's Inc. Quote
Other Stocks to Consider
Here are some other stocks worth considering from the Zacks Retail-Wholesale space, as our model shows that these, too, have the right combination of elements to beat on earnings this season.
Performance Food Group (PFGC - Free Report) currently has an Earnings ESP of +1.56% and a Zacks Rank #2. The consensus mark for revenues is pegged at $14.21 billion, indicating an increase of 3.2% from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EPS is pegged at 83 cents, suggesting to remain flat from the year-ago quarter. Performance Food Group has a trailing four-quarter earnings surprise of 4.8%, on average.
Ross Stores (ROST - Free Report) currently has an Earnings ESP of +0.34% and carries a Zacks Rank #3. The Zacks Consensus Estimate for EPS is pegged at $1.34, which suggests an increase of 22.9% from the prior-year actuals.
The Zacks Consensus Estimate for quarterly revenues is pegged at $4.82 billion, which indicates a rise of 7.3% from the year-earlier levels. ROST has a trailing four-quarter earnings surprise of 9.1%, on average.
Ollie's Bargain (OLLI - Free Report) currently has an Earnings ESP of +0.77% and a Zacks Rank of 3. The Zacks Consensus Estimate for quarterly EPS of 65 cents implies an increase of 32.7% from the year-ago reported number.
The Zacks Consensus Estimate for quarterly revenues is pegged at $503.8 million, implying a jump of 9.7% from the prior-year quarter. OLLI has a trailing four-quarter earnings surprise of 7.3%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.