Portillos shares dip after dour annual revenue, profit forecast

Shares of fast casual restaurant chain Portillos PTLO.O down 7% at $9.68 premarket

Co now expects fiscal 2025 revenue growth between 10% and 12% vs. previous expectations of 11% to 12% growth

Sees annual adjusted core profit to rise 5% to 8% compared to the prior 6% to 8% growth forecast

Q1 revenue of $176.4 million missed estimates of $180.4 million, while adjusted core profit of $21.2 million narrowly missed expectations- data compiled by LSEG

However, co raised its annual same-restaurant sales forecast to a growth of 1% to 3% vs. the prior flat to ~2% growth expectation

PTLO is up 10.6% YTD, as of last close