As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the modern fast food industry, including Portillo's (NASDAQ: PTLO) and its peers.

Modern fast food is a relatively newer category representing a middle ground between traditional fast food and sit-down restaurants. These establishments feature an expanded menu selection priced above traditional fast food options, often incorporating fresher and cleaner ingredients to serve customers prioritizing quality. These eateries are capitalizing on the perception that your drive-through burger and fries joint is detrimental to your health because of inferior ingredients.

The 6 modern fast food stocks we track reported a satisfactory Q4. As a group, revenues were in line with analysts’ consensus estimates.

While some modern fast food stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.3% since the latest earnings results.

Portillo's (NASDAQ: PTLO)

Begun as a Chicago hot dog stand in 1963, Portillo’s (NASDAQ: PTLO) is a casual restaurant chain that serves Chicago-style hot dogs and beef sandwiches as well as fries and shakes.

Portillo's reported revenues of $185.7 million, flat year on year. This print was in line with analysts’ expectations, and overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and same-store sales in line with analysts’ estimates.

"Portillo's took a number of steps in the fourth quarter to change the trajectory of the business by implementing a reset of our new restaurant growth strategy, refocusing on operational fundamentals and deploying more dynamic marketing tactics," said Mike Miles, Chairman of the Board and Interim CEO.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $5.80.

Is now the time to buy Portillo's? Access our full analysis of the earnings results here, it’s free.

Best Q4: CAVA (NYSE: CAVA)

Starting from a single Washington, D.C. location, CAVA (NYSE: CAVA) operates a fast-casual restaurant chain offering customizable Mediterranean-inspired dishes.

CAVA reported revenues of $275 million, up 20.9% year on year, outperforming analysts’ expectations by 2.4%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ same-store sales estimates.

CAVA scored the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 33.1% since reporting. It currently trades at $90.26.

Is now the time to buy CAVA? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Sweetgreen (NYSE: SG)

Founded in 2007 by three Georgetown University alum, Sweetgreen (NYSE: SG) is a casual quick service chain known for its healthy salads and bowls.

Sweetgreen reported revenues of $155.2 million, down 3.5% year on year, falling short of analysts’ expectations by 2.3%. It was a slower quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ revenue estimates.

Sweetgreen delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 6.3% since the results and currently trades at $5.76.

Read our full analysis of Sweetgreen’s results here.

Wingstop (NASDAQ: WING)

The passion project of two chicken wing aficionados in Texas, Wingstop (NASDAQ: WING) is a popular fast-food chain known for its flavorful and crispy chicken wings offered in a variety of sauces and seasonings.

Wingstop reported revenues of $175.7 million, up 8.6% year on year. This number missed analysts’ expectations by 1.2%. Taking a step back, it was a mixed quarter as it also logged an impressive beat of analysts’ same-store sales estimates but a significant miss of analysts’ EBITDA estimates.

The stock is down 21.2% since reporting and currently trades at $198.30.

Read our full, actionable report on Wingstop here, it’s free.

Shake Shack (NYSE: SHAK)

Started as a hot dog cart in New York City's Madison Square Park, Shake Shack (NYSE: SHAK) is a fast-food restaurant known for its burgers and milkshakes.

Shake Shack reported revenues of $400.5 million, up 21.9% year on year. This print met analysts’ expectations. More broadly, it was a mixed quarter as it also recorded a beat of analysts’ EPS estimates but revenue in line with analysts’ estimates.

Shake Shack scored the fastest revenue growth among its peers. The stock is down 1.7% since reporting and currently trades at $90.55.

Read our full, actionable report on Shake Shack here, it’s free.

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