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Portillo's Inc. anuncia resultados financieros del primer trimestre de 2026
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Portillo's Inc. anuncia resultados financieros del primer trimestre de 2026

<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="left">OAK BROOK, Ill., May 05, 2026 (GLOBE NEWSWIRE) -- Portillo's Inc. ("Portillo's" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTLO" rel="nofollow">PTLO</a>), the one-of-a-kind restaurant concept known for its menu of Chicago-style favorites, today reported financial results for the first quarter ended March 29, 2026.</p> <p align="left"><strong>First Quarter 2026 Performance Highlights (vs. First Quarter 2025):</strong></p> <ul type="disc"> <li style="text-align:left;">Total revenue of $182.6 million, an increase of 3.5% or $6.2 million</li> <li style="text-align:left;">Same-restaurant sales decrease of -0.1%</li> <li style="text-align:left;">Operating income of $4.5 million, a decrease of $5.9 million</li> <li style="text-align:left;">Net loss of $0.5 million, a decrease of $4.5 million from net income of $4.0 million</li> <li style="text-align:left;">Restaurant-Level Adjusted EBITDA<sup>(1)</sup> of $34.8 million, a decrease of $1.8 million</li> <li style="text-align:left;">Adjusted EBITDA<sup>(1)</sup> of $18.5 million, a decrease of $2.8 million</li> </ul> <p align="left"><em>(1) Restaurant-Level Adjusted EBITDA and Adjusted EBITDA are non-GAAP measures. Please see definitions and the reconciliations of these non-GAAP measures accompanying this release.</em></p> <p align="left">"My first couple of months as CEO of Portillo's have been productive and encouraging, and our team is making progress in identifying the priorities that will drive our growth strategy," said Brett Patterson, President and Chief Executive Officer. "Our focus is on building a sustainable, long-term plan centered on three priorities: consistently great operations, an integrated marketing strategy, and a disciplined development strategy that creates compelling shareholder value. I'm optimistic about Portillo's future and look forward to sharing more as our plan takes shape."</p> <p align="left"><strong>First Quarter 2026 Financial and Operating Results</strong></p> <p align="left">Revenues for the quarter ended March 29, 2026 were $182.6 million compared to $176.4 million for the quarter ended March 30, 2025, an increase of $6.2 million or 3.5%. The increase in revenues was primarily attributed to the opening of eight restaurants in fiscal 2025 and four restaurants during the quarter ended March 29, 2026, partially offset by a decrease in our same-restaurant sales. Restaurants not in our Comparable Restaurant Base (as defined below) contributed $7.7 million of the total year-over-year increase. Same-restaurant sales decreased 0.1%, or $0.2 million in the quarter. The same-restaurant sales decline was attributable to a decrease in average check of 0.9%, partially offset by an increase in transactions of 0.8%. The lower average check was driven by an approximate 1.0% decrease in product mix, partially offset by a 0.1% increase in certain menu prices, net of increased promotional offers. For the purpose of calculating same-restaurant sales for the quarter ended March 29, 2026, sales for 83 restaurants that were open for at least 24 full fiscal periods were included in the Comparable Restaurant Base.</p> <p align="left">Total restaurant operating expenses for the quarter ended March 29, 2026 were $147.8 million compared to $139.8 million for the quarter ended March 30, 2025, an increase of $8.0 million or 5.7%. The increase was primarily driven by the opening of eight restaurants in fiscal 2025 and four restaurants during the quarter ended March 29, 2026. Additionally, a 1.8% increase in commodity prices negatively impacted food, beverage, and packaging costs. The increase in labor expense was driven by incremental investments to support our team members. Lastly, the increase in other operating expenses was primarily driven by the aforementioned opening of new restaurants, and an increase in repairs and maintenance, operating supplies, and insurance expense, partially offset by lower cleaning expenses.</p> <p align="left">General and administrative expenses for the quarter ended March 29, 2026 were $20.4 million compared to $18.9 million for the quarter ended March 30, 2025, an increase of $1.5 million or 7.7%. This increase was primarily driven by higher equity‐based compensation and an increase in advertising and professional fees, including $0.5 million of dead site costs. The increase was partially offset by lower vacation-related wage expense, software licensing and legal expenses.</p> <p align="left">Operating income for the quarter ended March 29, 2026 was $4.5 million compared to $10.4 million for the quarter ended March 30, 2025, a decrease of $5.9 million or 56.7% as higher revenue was more than offset by the aforementioned expense factors.</p> <p align="left">Net loss for the quarter ended March 29, 2026 was $0.5 million compared to a net income of $4.0 million for the quarter ended March 30, 2025, a decrease of $4.5 million or 112.8%. The decrease in net income was primarily due to a decrease in operating income of $5.9 million due to the aforementioned factors, partially offset by a decrease in income taxes of $1.5 million.</p> <p align="left">Restaurant-Level Adjusted EBITDA* for the quarter ended March 29, 2026 was $34.8 million compared to $36.7 million for the quarter ended March 30, 2025, a decrease of $1.8 million or 4.9%.</p> <p align="left">Adjusted EBITDA* for the quarter ended March 29, 2026 was $18.5 million compared to $21.2 million for the quarter ended March 30, 2025, a decrease of $2.8 million or 13.0%.</p> <p align="left"><em>*A reconciliation of Restaurant-Level Adjusted EBITDA and Adjusted EBITDA and the nearest GAAP financial measure is included under "Non-GAAP Measures" in the accompanying financial data below.</em></p> <p align="left"><strong>Development Highlights</strong></p> <p align="left">During the quarter ended March 29, 2026, we opened four restaurants. Subsequent to March 29, 2026, we opened one additional restaurant, bringing our total restaurant count to 107, as of the filing of this press release, including a restaurant owned by C&O, of which Portillo's owns 50% of the equity. We plan to open three additional restaurants in the remainder of fiscal 2026, including our first airport location at Dallas–Fort Worth International Airport and our second in-line location which will be in Chicago.</p> <p align="left">Below are the restaurants opened thus far in fiscal 2026:</p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td style="max-width:50%; width:50%; min-width:50%;;border-bottom: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>Location</strong></td> <td style="max-width:25%; width:25%; min-width:25%;;border-bottom: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>Opening Month</strong></td> <td style="max-width:25%; width:25%; min-width:25%;;border-bottom: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>Fiscal Quarter Opened</strong></td> </tr> <tr> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Fort Worth, Texas</td> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">January 2026</td> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Q1 2026</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Humble, Texas</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">February 2026</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Q1 2026</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Dallas, Texas</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">March 2026</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Q1 2026</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">El Paso, Texas</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">March 2026</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Q1 2026</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Frisco, Texas</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">April 2026</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Q2 2026</td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td style="vertical-align: bottom ; "> </td> <td style="vertical-align: bottom ; "> </td> </tr> </table> <p align="left"><strong>Fiscal 2026 Financial Targets</strong></p> <p align="left">Based on current expectations, fiscal 2026 outlook is as follows:</p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td style="max-width:75%; width:75%; min-width:75%;;vertical-align: bottom ; "> </td> <td style="max-width:25%; width:25%; min-width:25%;;border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Current Targets</strong></td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">New Units</td> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">8 new units</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Commodity inflation</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Mid single digit</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Labor inflation</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">3% to 3.5%</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Restaurant-level adjusted EBITDA margin*</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">20.5% to 21%</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">General and administrative expenses</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">$80-$82 million</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Adjusted EBITDA*</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Flat vs. 2025</td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">Capital expenditures</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">$55-$60 million</td> </tr> </table> <p align="left">*We are unable to reconcile the financial target for adjusted EBITDA and restaurant-level adjusted EBITDA margin to net income/loss growth and operating income/loss margin, the respective corresponding U.S. GAAP measure, due to variability and difficulty in making accurate forecasts and projections and because not all information necessary to prepare the reconciliation is available to us without unreasonable efforts. For the same reasons, we are unable to address the probable significance of the unavailable information because we cannot accurately predict all of the components of the adjusted calculations and the non-GAAP measure may be materially different than the GAAP measure.</p> <p align="left"><strong>Chief Financial Officer Departure</strong></p> <p align="left">Michelle Hook, Chief Financial Officer, will depart Portillo's to pursue another opportunity, effective today, May 5, 2026. Since joining Portillo's in 2020, she has led the Company's financial function, helping drive a period of meaningful growth, including playing an important role in the Company's 2021 IPO and expansion into new markets.</p> <p align="left">The Board has initiated a search for her successor and is focused on identifying a strategic leader with a demonstrated track record of delivering strong results and leading the finance function within high-growth brands to support the Company's next phase of growth.</p> <p align="left"><strong>The following definitions apply to these terms as used in this release:</strong></p> <p align="left"><strong>Change in Same-Restaurant Sales - </strong>The change in same-restaurant sales is the percentage change in year-over-year revenue for the Comparable Restaurant Base, which is defined as the number of restaurants open for at least 24 full fiscal periods. For the quarters ended March 29, 2026 and March 30, 2025, there were 83 and 74 restaurants in our Comparable Restaurant Base, respectively.</p> <p align="left">A change in same-restaurant sales is the result of a change in restaurant transactions, average guest check, or a combination of the two. We gather daily sales data and regularly analyze the guest transaction counts and the mix of menu items sold to strategically evaluate menu pricing and demand. Measuring our change in same-restaurant sales allows management to evaluate the performance of our existing restaurant base. We believe this measure provides a consistent comparison of restaurant sales results and trends across periods within our core, established restaurant base, unaffected by results of restaurant openings and enables investors to better understand and evaluate the Company's historical and prospective operating performance.</p> <p align="left"><strong>Average Unit Volume - </strong>AUV is the total revenue (excluding gift card and Perks loyalty program breakage) recognized in the Comparable Restaurant Base, including C&O, divided by the number of restaurants in the Comparable Restaurant Base, including C&O, by period.</p> <p align="left">This key performance indicator allows management to assess changes in consumer spending patterns at our restaurants and the overall performance of our restaurant base.</p> <p align="left"><strong>Adjusted EBITDA and Adjusted EBITDA Margin - </strong>Adjusted EBITDA represents net income (loss) before depreciation and amortization, interest expense, interest income, and income taxes, adjusted for the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing core operating performance as identified in the reconciliation of net income (loss), the most directly comparable GAAP measure to Adjusted EBITDA. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of revenues, net. See also "Non-GAAP Financial Measures."</p> <p align="left"><strong>Restaurant-Level Adjusted EBITDA and Restaurant-Level Adjusted EBITDA Margin - </strong>Restaurant-Level Adjusted EBITDA is defined as revenue, less restaurant operating expenses, which include food, beverage and packaging costs, labor expenses, occupancy expenses and other operating expenses. Restaurant-Level Adjusted EBITDA excludes corporate level expenses and depreciation and amortization on restaurant property and equipment. Restaurant-Level Adjusted EBITDA Margin represents Restaurant-Level Adjusted EBITDA as a percentage of revenues, net. See also "Non-GAAP Financial Measures."</p> <p align="left">For more information about the Company's Non-GAAP measures, how they are calculated and reconciled and why management believes that they are useful, see "Non-GAAP Financial Measures" below.</p> <p align="left"><strong>Earnings Conference Call</strong></p> <p align="left">The Company will host a conference call to discuss its financial results for the first quarter ended on Tuesday, May 5, 2026, at 10:00 AM ET. The conference call can be accessed live over the phone by dialing 877-407-3982. A telephone replay will be available shortly after the call has concluded and can be accessed by dialing 844-512-2921, and using passcode #13748480. The webcast replay will be available at investors.portillos.com shortly after the call has concluded.</p> <p align="left"><strong>About Portillo's </strong></p> <p align="left">Portillo's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTLO" rel="nofollow">PTLO</a>) is a one-of-a-kind brand that has grown from a small hot dog trailer in Chicago to more than 100 restaurants across 11 states. Known for its unique menu of craveable Italian beef sandwiches, Chicago-style hot dogs, char-grilled burgers, fresh salads and iconic chocolate cake, Portillo's is beloved in both its home of Chicagoland and across new and growing markets. Portillo's operates a company-owned model of not just restaurants – but experience-focused destinations that blend dine-in, drive-thru, takeout and delivery to serve our guests with the food they crave. And now, after six decades of success and counting, Portillo's is on a mission to bring its iconic food and unforgettable dining experience to guests across the country.</p> <p align="left">Guests can join Portillo's Perks, the brand's loyalty program, at Portillos.com/perks to earn and redeem delicious rewards. Every visit brings fans closer to exclusive perks, badges and surprise offers. Fans can also download the Portillo's App for iOS or Android or visit Portillo's website to order ahead for pickup or delivery and get the best dill on these bun-believably delicious Chicago-style favorites and more. Plus, Portillo's ships its craveworthy food to all 50 states via its website.</p> <p align="left"><strong>Cautionary Note Regarding Forward-Looking Statements</strong></p> <p align="left">This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance and business, and are based on currently available operating, financial and competitive information which are subject to various risks and uncertainties, so you should not place undue reliance on forward-looking statements. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "aim," "anticipate," "believe," "commit," "estimate," "expect," "forecast," "outlook," "potential," "project," "projection," "plan," "intend," "seek," "may," "could," "would," "will," "should," "can," "can have," "likely," the negatives thereof and other similar expressions.</p> <p align="left">Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions and the following:</p> <ul type="disc"> <li style="text-align:left;">risks related to or arising from our organizational structure;</li> <li style="text-align:left;">risks of food-borne illness and food safety and other health concerns about our food;</li> <li style="text-align:left;">risks relating to the economy and financial markets, including in relation to trade and tax policy changes and other macroeconomic uncertainty, including, inflation, fluctuating interest rates, stock market volatility, recession concerns, and other factors;</li> <li style="text-align:left;">risks associated with onboarding new members of management, including the Chief Executive Officer;</li> <li style="text-align:left;">the impact of unionization activities of our Team Members on our reputation, operations and profitability;</li> <li style="text-align:left;">risks associated with our reliance on certain information technology systems, and potential failures or interruptions;</li> <li style="text-align:left;">risks associated with data, privacy, cyber security and the use and implementation of information technology systems, including our digital ordering and payment platforms for our delivery business;</li> <li style="text-align:left;">risks associated with increased adoption, implementation and use of artificial intelligence technologies across our business;</li> <li style="text-align:left;">the impact of competition, including from our competitors in the restaurant industry or our own restaurants;</li> <li style="text-align:left;">the increasingly competitive labor market and our ability to attract and retain the best talent and qualified employees;</li> <li style="text-align:left;">the impact of federal, state or local government regulations relating to privacy, data protection, advertising and consumer protection, building and zoning requirements, labor and employment matters, costs of or ability to open new restaurants, or the sale of food and alcoholic beverages;</li> <li style="text-align:left;">inability to achieve our growth strategy, including as a result of, among other things, the availability of suitable new restaurant sites in existing and new markets and opening of new restaurants at the anticipated rate and on the anticipated timeline;</li> <li style="text-align:left;">the impact of consumer sentiment and other economic factors on our sales;</li> <li style="text-align:left;">fluctuation in food and other operating costs, tariffs and import taxes, and supply shortages; and</li> <li style="text-align:left;">other risks identified in our filings with the Securities and Exchange Commission (the "SEC").</li> </ul> <p align="left">All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in the Company's most recent Annual Report on Form 10-K, filed with the SEC. All of the Company's SEC filings are available on the SEC's website at <a href="http://www.sec.gov" title="www.sec.gov" rel="nofollow">www.sec.gov</a>. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.</p> <p align="left"><strong>Investor Contact:</strong><br />Chris Brandon, Vice President of Investor Relations<br />312.931.5578<br /> [email protected] </p> <p align="left"><strong>Media Contact:</strong><br />Sara Wirth, Director of Communications & PR<br /> [email protected] </p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td colspan="14" style="text-align: center ; vertical-align: middle; text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>PORTILLO'S INC</strong><br /><strong>CONSOLIDATED STATEMENTS OF OPERATIONS</strong><br />(in thousands, except common share and per common share data)</td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td colspan="13" style="vertical-align: bottom ; "> </td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td colspan="13" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Quarter Ended</strong></td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td colspan="6" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>March 29, 2026</strong></td> <td style="vertical-align: bottom ; "> </td> <td colspan="6" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>March 30, 2025</strong></td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td colspan="3" style="vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; vertical-align: bottom ; "> </td> <td colspan="2" style="border-top: solid black 1pt ; vertical-align: bottom ; "> </td> <td style="vertical-align: bottom ; "> </td> <td colspan="3" style="vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; vertical-align: bottom ; "> </td> <td colspan="2" style="border-top: solid black 1pt ; vertical-align: bottom ; "> </td> </tr> <tr> <td style="max-width:47%; width:47%; min-width:47%;;text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>REVENUES, NET</strong></td> <td style="max-width:1%; width:1%; min-width:1%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">$</td> <td style="max-width:11%; width:11%; min-width:11%;;padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">182,623</td> <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">100.0</td> <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">$</td> <td style="max-width:11%; width:11%; min-width:11%;;padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">176,437</td> <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">100.0</td> <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td colspan="3" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="2" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="3" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="2" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> </tr> <tr> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>COST AND EXPENSES:</strong></td> <td colspan="3" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="2" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="3" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="2" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Restaurant operating expenses:</td> <td colspan="3" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="2" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="3" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="2" style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Food, beverage and packaging costs</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">63,285</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">34.7</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">61,102</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">34.6</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Labor</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">49,195</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">26.9</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">46,868</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">26.6</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Occupancy</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">11,184</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6.1</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">10,021</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5.7</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Other operating expenses</td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">24,115</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13.2</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">21,790</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">12.4</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 30.0px; border-top: solid black 1pt ; vertical-align: bottom ; "><strong>Total restaurant operating expenses</strong></td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">147,779</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">80.9</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">139,781</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">79.2</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td colspan="3" style="vertical-align: bottom ; "> </td> <td style="vertical-align: bottom ; "> </td> <td colspan="2" style="vertical-align: bottom ; "> </td> <td style="vertical-align: bottom ; "> </td> <td colspan="3" style="vertical-align: bottom ; "> </td> <td style="vertical-align: bottom ; "> </td> <td colspan="2" style="vertical-align: bottom ; "> </td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">General and administrative expenses</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">20,359</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">11.1</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">18,903</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">10.7</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Pre-opening expenses</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,550</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1.4</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">508</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.3</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Depreciation and amortization</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">7,936</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4.3</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">7,040</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4.0</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Net income attributable to equity method investment</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(206</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="1" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.1</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(164</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="1" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.1</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Other income, net</td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(287</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="1" style="border-bottom: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.2</td> <td style="border-bottom: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(12</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>OPERATING INCOME</strong></td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,492</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2.5</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">10,381</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5.9</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Interest expense</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,627</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3.1</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,749</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3.3</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Interest income</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(50</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(71</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Tax Receivable Agreement liability adjustment</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(412</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="1" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.2</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(647</td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="1" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.4</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)%</td> </tr> <tr> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>(LOSS) INCOME BEFORE INCOME TAXES</strong></td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(673</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td colspan="1" style="border-top: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.4</td> <td style="border-top: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)%</td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,350</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-top: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3.0</td> <td style="border-top: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="vertical-align: middle; text-align: left; padding-left: 20.0px; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Income tax (benefit) expense</td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; ...</tr></table><p><a href=https://www.benzinga.com/pressreleases/26/05/g52278603/portillos-inc-announces-first-quarter-2026-financial-results?utm_source=benzinga_taxonomy&utm_medium=rss_feed_free&utm_content=taxonomy_rss&utm_campaign=channel alt=Portillo's Inc. Announces First Quarter 2026 Financial Results>Full story available on Benzinga.com</a></p>

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globenewswirehace 49d

El director ejecutivo de ZenaTech envía una carta a los accionistas a medida que los ingresos totales crecieron un 558 % año tras año durante todo el año 2025

El crecimiento total de activos de casi el 200 % posiciona firmemente las plataformas de drones autónomos con IA de la compañía, ya que el segmento de drones como servicio genera más de $10 millones en el primer año completo de operación. El crecimiento total de activos de casi el 200 % posiciona firmemente las plataformas de drones autónomos con IA de la compañía, ya que el segmento de drones como servicio genera más de $10 millones en el primer año completo de operación.

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Powell Industries declara dividendo trimestral en efectivo

HOUSTON, 05 de mayo de 2026 (GLOBE NEWSWIRE) -- Powell Industries, Inc. (NASDAQ: POWL), un proveedor líder de soluciones de ingeniería personalizadas para la gestión, control y distribución de energía eléctrica, anunció hoy que su junta directiva ha declarado un dividendo en efectivo trimestral sobre las acciones ordinarias de la empresa de 0,09 dólares por acción. El dividendo se pagará el 17 de junio de 2026 a los accionistas registrados al cierre de operaciones el 20 de mayo de 2026.

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Frontier Airlines informa los resultados financieros del primer trimestre de 2026
benzingahace 49d

Frontier Airlines informa los resultados financieros del primer trimestre de 2026

DENVER , May 5, 2026 /PRNewswire/ -- Frontier Group Holdings, Inc. (NASDAQ: ULCC ), parent company of Frontier Airlines, Inc., today reported financial results for the first quarter of 2026 and issued guidance for the second quarter 2026 and select guidance for full-year 2026. First Quarter 2026 Select Financial Highlights The following is a summary of first quarter and select financial results, including both GAAP and adjusted (non-GAAP) metrics. Refer to "Reconciliations of Non-GAAP Financial Information" in the appendix of this release. (unaudited, in millions, except for percentages and per share data) Three Months Ended March 31, 2026 2025 As Reported (GAAP) Adjusted (Non-GAAP) As Reported (GAAP) Adjusted (Non-GAAP) Total operating revenues $ 992 $ 1,065 $ 912 $ 912 Revenue per available seat mile ("RASM") (¢) 10.11 10.86 9.17 9.17 RASM, stage-length adjusted to 1,000 miles (¢) 9.59 10.29 8.81 8.81 Total operating expenses $ 1,275 $ 1,136 $ 958 $ 958 Income (loss) before income taxes $ (281) $ (69) $ (40) $ (40) Income (loss) before income taxes margin (28.3) % (6.5) % (4.4) % (4.4) % Net income (loss) $ (272) $ (68) $ (43) $ (43) Earnings (loss) per share, diluted $ (1.18) $ (0.30) $ (0.19) $ (0.19) Highlights (financial metrics are non-GAAP): Adjusted revenue was nearly $1.1 billion, an all-time Company record, up 17 percent on one percent lower capacity compared to the corresponding 2025 quarter Adjusted RASM, stage-length adjusted to 1,000 miles, was 10.29 cents, 17 percent higher compared to the corresponding 2025 quarter and at the higher end of the guidance range Adjusted net loss was $68 million, or $0.30 per share, beating guidance ($0.32 to $0.44 loss per share) Total liquidity was $974 million at the end of the first quarter, $100 million higher than year-end 2025 Generated 106 available seat miles ("ASM") per gallon in the first quarter of 2026, a fuel efficiency advantage of over 40 percent compared to the other major U.S. carriers 1 Executed the previously announced agreements with Airbus to defer the delivery of 69 future A320 family aircraft and with AerCap to early terminate the leases associated with 24 A320neo aircraft Received the 2025 Diamond Award of Excellence, the Federal Aviation Administration's most distinguished honor in recognition of Aircraft Maintenance Technicians and employers for their commitment to maintenance training and safety, for the second consecutive year Recognized as North America's lowest-emission carrier in Cirium's 2025 EmeraldSky Review, placing Frontier in the Gold status tier reserved for the top five carriers globally "Our ability to deliver strong top-line results and increase our liquidity despite a rapidly rising fuel cost environment validates our strategy and the resilience of our operating model," said Jimmy Dempsey, President and Chief Executive Officer. "We remain focused on our four key strategic priorities centered around rightsizing the fleet, strengthening our cost discipline, improving operational reliability and driving customer loyalty, with significant progress achieved on these priorities during the quarter. By staying aligned with our framework and focusing on items we can control, we believe we are well positioned to navigate near-term volatility while emerging stronger as macro conditions normalize." First Quarter 2026 Results Net loss was $272 million, or $1.18 per share, including a $139 million non-recurring charge related to the previously announced early lease termination of 24 A320neo aircraft (the "Early Return Agreement"), mostly comprised of non-cash charges, including non-recoverable capitalized prepaid maintenance and accelerated depreciation, along with other costs in connection with the early return of the aircraft and engines, and a $73 million non-recurring charge ("TSA Reserve") resulting from a court ruling relating to the remittance of Transportation Security Administration fees for unused travel that results in probable losses in prior years subject to audit. Total operating revenue was approximately $1.0 billion, or 10.11 cents per ASM, inclusive of the TSA Reserve. Total operating expenses were approximately $1.3 billion, or 13.00 cents per ASM, inclusive of the Early Return Agreement. Excluding the TSA Reserve and the Early Return Agreement, adjusted (non-GAAP) net loss was $68 million, or $0.30 per share, favorable to guidance. The tax benefit generated from the pre-tax loss during the quarter was substantially offset by a non-cash valuation allowance against deferred tax assets. The net operating losses subject to a valuation allowance generally do not expire and may be used to offset future taxable income, at which time any related valuation allowance would be released. Revenue and Cost Performance (adjusted non-GAAP) Adjusted revenue was nearly $1.1 billion, a record, underpinned by strong travel demand, moderating competitive capacity and the continued progression of the Company's revenue management initiatives. ASMs were 9.8 billion, one percent lower compared to the corresponding 2025 quarter on an average stage length of 899 miles, consistent with guidance. Adjusted RASM and adjusted RASM, stage-length adjusted to 1,000 miles, were 10.86 cents and 10.29 cents, respectively , both record first‐quarter levels in Frontier's history. Adjusted RASM, stage-length adjusted to 1,000 miles, increased 17 percent over the corresponding 2025 quarter , at the higher end of the guidance range. Flown load factor was approximately four percentage points higher at 78.4 percent. Total adjusted operating expenses were approximately $1.1 billion in the first quarter of 2026, or 11.58 cents per ASM, including $268 million of fuel expense at an average cost of $2.88 per gallon. Total adjusted operating expenses (excluding fuel) were $868 million, or 8.85 cents per ASM, with the increase over the corresponding 2025 quarter driven largely by 12 percent lower average daily aircraft utilization and higher fleet-related costs against reduced capacity. Liquidity Total liquidity as of March 31, 2026 was $974 million, consisting of unrestricted cash and cash equivalents and availability from the Company's revolving credit facility. Fleet As of March 31, 2026, Frontier had a fleet of 183 Airbus single-aisle aircraft, as scheduled below, all financed through operating leases that expire between 2026 and 2038. Equipment Quantity Seats A320neo 94 186 A320ceo 6 180 - 186 A321ceo 21 230 A321neo 62 240 Total fleet 183 Frontier took delivery of five A320neo aircraft and two A321neo aircraft during the first quarter of 2026. The Company expects to take delivery of seven A320 family aircraft in the second quarter 2026, including five A321neo aircraft and two A320neo aircraft, and return 24 A320neo leased aircraft tied to the Early Return Agreement. Frontier is "America's Greenest Airline" as measured by fuel efficiency (ASMs per fuel gallon consumed) compared to all other major U.S. carriers, generating 106 ASMs per gallon in the first quarter of 2026. Frontier's fuel efficiency advantage of over 40 percent compared to the other major U.S. carriers 1 helps the Company to mitigate the impact of the current elevated fuel prices, should they persist. Forward Guidance The guidance provided below is based on the Company's current estimates and is not a guarantee of future performance. This guidance is subject to significant risks and uncertainties that could cause actual results to differ materially, including the risk factors discussed in the Company's reports on file with the Securities and Exchange Commission (the "SEC"). Frontier undertakes no duty to update any forward-looking statements or estimates, except as required by applicable law. Further, this guidance excludes special items and the reconciliation of non-GAAP measures to the comparable GAAP measures because such amounts cannot be determined at this time. Second quarter 2026 adjusted (non-GAAP) diluted per share guidance, as noted below, reflects significant progress anticipated across key commercial initiatives on higher average aircraft utilization underpinned by moderating competitive capacity, with significantly elevated jet fuel prices impacting expected results. RASM and RASM, stage-length adjusted to 1,000 miles, are expected to be up over 20 percent and high-teens on a percentage basis, respectively, compared to the corresponding 2025 quarter. Having ended the first quarter of 2026 with $974 million of total liquidity, the Company expects total liquidity at the end the second quarter of 2026 in the range of $900 million to $950 million, bolstered by internal liquidity measures, including fleet-related activity and advanced discussions associated with an extension of the Company's co-brand credit card agreement. The Company is not providing full year 2026 guidance other than for the items noted in the table below. Second Quarter 2026 Adjusted (non-GAAP) diluted loss per share (a)(b)(c)(d) $(0.45) to $(0.60) Capacity growth (compared to 2Q 2025) (e) 6 to 8 percent Full Year 2026 Pre-delivery deposits, net of refunds ($ millions) (f) $(170) to $(210) Other capital expenditures ($ millions) (g) $170 to $220 _________________ (a) Includes guidance on certain non-GAAP measures which excludes, among other things, special items. The Company is unable to reconcile these forward-looking projections to GAAP as the nature or amount of such special items cannot be determined at this time. (b) Average fuel cost (including fuel taxes and into-plane costs) is estimated to be $4.25 per gallon in the second quarter of 2026. (c) The Company expects to recognize $75 million to $100 million of charges in the second quarter 2026 related to the Early Return Agreement, which are expected to be excluded for the presentation of adjusted (non-GAAP) operating expenses, consistent with the accounting treatment in the first quarter 2026, and is therefore excluded from the adjusted (non-GAAP) per share guidance. (d) Based on estimated weighted average diluted shares outstanding of 230 million shares in the second quarter of 2026 and no projected tax expense. The Company's actual tax expense may be impacted by varying factors which may include, but are not limited to, the composition of items of income and expense recognized in the respective periods, including the amount of non-deductible or other similar items, the treatment of deferred tax assets and related valuation allowances. (e) Given the volatile nature of jet fuel prices, actual capacity adjustments made by the Company may be materially different than what is currently expected. (f) The Company expects its pre-delivery deposit balance to be reduced by $170 million to $210 million during the year, with a similar reduction expected in the related PDP financing facility balance. (g) Includes capitalized heavy maintenance. Conference Call The Company will host a conference call to discuss first quarter 2026 results today, May 5, 2026, at 11:00 a.m. Eastern Time (USA). Investors may listen to a live, listen-only webcast available on the investor relations section of the Company's website at https://ir.flyfrontier.com/news-and-events/events . The call will also be archived and available for at least 90 days on the investor relations section of the Company's website. About Frontier Airlines Frontier Airlines, Inc., a subsidiary of Frontier Group Holdings, Inc. (NASDAQ: ULCC ) is committed to delivering "Low Fares Done Right." Headquartered in Denver, Colorado, Frontier operates the largest A320neo family fleet in the U.S., which is also among the youngest and most fuel-efficient. With its expanding network, rewarding loyalty program, and bold new product offerings, Frontier is redefining low-fare travel and building The New Frontier as America's High-Value Airline. End Notes 1 Industry average weighted by ASMs in FY2025 to include DAL, UAL, AAL, LUV, JBLU, ALK, and ALGT. Fuel efficiency is measured by ASMs per fuel gallon consumed. Cautionary Statement Regarding Forward-Looking Statements and Information Certain statements in this release should be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company's current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Words such as "expects," "will," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this report are based upon information available to the Company on the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Actual results could differ materially from these forward-looking statements due to numerous risks and uncertainties relating to the Company's operations and business environment including, without limitation, the following: unfavorable economic and political conditions in the states where the Company operates and globally, including tariffs and other trade protection measures, an inflationary environment and potential recession, weakened demand environment, and the resulting impact on cost inputs and/or consumer demand for air travel; the highly competitive nature of the global airline industry and susceptibility of the industry to price discounting and changes in capacity; disruptions to the Company's flight operations, including due to factors beyond the Company's control, such as adverse weather events or air traffic controller staffing shortages and facility and infrastructure constraints (including as a result of federal government shutdowns); the Company's ability to attract and retain qualified personnel at reasonable costs; high and/or volatile fuel prices or significant disruptions in the supply of aircraft fuel, including as a result of the war between Russia and Ukraine and the conflict in the Middle East; the Company's reliance on technology and automated systems to operate its business and the impact of any significant failure or disruption of, or failure to effectively integrate and implement, the technology or systems; the Company's reliance on third-party service providers and the impact of any failure of these parties to perform as expected, or interruptions in the Company's relationships with these providers or their provision of services; adverse publicity and/or harm to the Company's brand or reputation; reduced travel demand and potential tort liability as a result of an accident, catastrophe or incident involving the Company, its codeshare partners or another airline; terrorist attacks, international hostilities or other security events, or the fear of terrorist attacks or hostilities, even if not made directly on the airline industry; increasing privacy and data security obligations or a significant data breach; further changes to the airline industry with respect to alliances and joint business arrangements or due to consolidations; changes in the Company's network strategy or other factors outside its control resulting in less economic aircraft orders, costs related to modification or termination of aircraft orders or entry into less favorable aircraft orders; the Company's reliance on a single supplier for its aircraft and two suppliers for its engines, and the impact of any failure to obtain timely deliveries, additional equipment or support from any of these suppliers; expanded inspection programs and/or heightened maintenance requirements imposed on the Company's aircraft or engines; the impacts of union disputes, employee strikes or slowdowns, and other labor-related disruptions on the Company's operations; extended interruptions or disruptions in service at major airports where the Company operates; the impacts of seasonality and other factors associated with the airline industry; the Company's failure to realize the full value of its intangible assets or its long-lived assets, causing the Company to record impairments; the costs of compliance with extensive government regulation of the airline industry; costs, liabilities and risks associated with environmental regulation and climate change; the Company's inability to accept or integrate new aircraft into the Company's fleet as planned; the impacts of the Company's significant amount of financial leverage from fixed obligations, the possibility the Company may seek material amounts of additional financial liquidity in the short-term and the impacts of insufficient liquidity on the Company's financial condition and business; failure to comply with the covenants in the Company's financing agreements or failure to comply with financial and other covenants governing the Company's other debt; changes in, or failure to retain, the Company's senior management team or other key employees; current or future litigation and regulatory actions, or failure to comply with the terms of any settlement, order or arrangement relating to these actions; increases in insurance costs or inadequate insurance coverage; and other risks and uncertainties set forth from time to time under sections captioned "Risk Factors" in the Company's reports and other documents filed with the SEC, including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 18, 2026. Frontier Group Holdings, Inc. Condensed Consolidated Statements of Operations (unaudited, in millions, except share and per share data) Three Months Ended March 31, Percent Change 2026 2025 Operating revenues: Passenger $ 952 $ 884 8 % Other 40 28 43 % Total operating revenues 992 912 9 % Operating expenses: Aircraft fuel 268 238 13 % Salaries, wages and benefits 271 249 9 % Aircraft rent 265 161 65 % Station operations 192 180 7 % Maintenance, materials and repairs 142 51 178 % Sales and marketing 43 41 5 % Depreciation and amortization 62 20 210 % Other operating 32 18 78 % Total operating expenses Full story available on Benzinga.com

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La rupia cae 2 paise y cierra en un nuevo mínimo histórico de 95,25 frente al dólar estadounidense
dtnexthace 49d

La rupia cae 2 paise y cierra en un nuevo mínimo histórico de 95,25 frente al dólar estadounidense

La rupia india alcanzó un nuevo mínimo histórico de 95,25 frente al dólar estadounidense a medida que las renovadas tensiones en el Golfo, los ataques a la infraestructura de los Emiratos Árabes Unidos y los elevados precios del crudo Brent alimentan la aversión al riesgo, las salidas de capital extranjero y la presión sobre las economías importadoras de petróleo como la India.

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