BUZZ-Portillo's rises on upbeat annual profit forecast fueled by higher menu prices

Shares of fast casual restaurant chain Portillo's PTLO.O up 8% at $14.65 premarket

Company forecasts annual profit largely above expectations, following a quarterly profit beat helped by higher menu prices

Co expects annual adjusted EBITDA growth between 6% and 8%, vs Street estimate of 6.4% growth - data compiled by LSEG

Reports Q4 adjusted EBITDA of $25.2 million, above expectations of $21 million

Sees annual revenue growth forecast of 11% to 12% vs. estimate of 11.4%

Also posts surprise 0.4% rise in quarterly same-restaurant sales, compared to estimate of 0.3% decline, while revenue of $184.6 million is in line with estimate

PTLO fell 41% in 2024