Earnings summaries and quarterly performance for Portillo's.
Executive leadership at Portillo's.
Michael A. Miles, Jr.
Detailed
Interim Chief Executive Officer
CEO
JW
Jill Waite
Detailed
Chief People Officer
KC
Keith Correia
Detailed
Chief Information Officer
KK
Kelly Kaiser
Detailed
General Counsel and Secretary
MH
Michelle Hook
Detailed
Chief Financial Officer and Treasurer
TD
Tony Darden
Detailed
Chief Operating Officer
Board of directors at Portillo's.
Research analysts who have asked questions during Portillo's earnings calls.
Brian Harbour
Morgan Stanley
6 questions for PTLO
Also covers: BLMN, BRCB, BROS +22 more
Brian Mullan
Piper Sandler
6 questions for PTLO
Also covers: BJRI, BLMN, BROS +20 more
DT
David Tarantino
Robert W. Baird & Co.
6 questions for PTLO
Also covers: ATKR, BRCB, BROS +20 more
SZ
Sharon Zackfia
William Blair & Company
6 questions for PTLO
Also covers: BIRK, BJRI, BRCB +17 more
Gregory Francfort
Guggenheim Securities
5 questions for PTLO
Also covers: BROS, CMG, DPZ +11 more
DG
Dennis Geiger
UBS
4 questions for PTLO
Also covers: BLMN, BROS, CAKE +18 more
SS
Sara Senatore
Bank of America
4 questions for PTLO
Also covers: BLMN, BROS, CAKE +21 more
Andrew Barish
Jefferies
3 questions for PTLO
Also covers: BROS, CAKE, CAVA +10 more
James Salera
Stephens Inc.
3 questions for PTLO
Also covers: BRBR, CAKE, CELH +20 more
Jim Salera
Stephens Inc.
3 questions for PTLO
Also covers: BRBR, CAKE, CELH +21 more
AB
Andy Barish
Jefferies Financial Group Inc.
2 questions for PTLO
Also covers: BRCB, BROS, CAKE +5 more
CO
Christopher O'Cull
Stifel, Nicolaus & Company
2 questions for PTLO
Also covers: BROS, CAVA, CMG +13 more
Arian Razai
Guggenheim Securities
1 question for PTLO
Also covers: FL, FWRG, JACK
CO
Chris O'cull
Stifel Financial Corp
1 question for PTLO
Also covers: BROS, CAVA, CMG +11 more
Patrick Johnson
Stifel
1 question for PTLO
Also covers: BRCB, BROS, DRI +2 more
Ray Piccione
Morgan Stanley
1 question for PTLO
Recent press releases and 8-K filings for PTLO.
Portillo's Reports Q4 2025 Results, Announces New CEO, and Updates 2026 Outlook
PTLO
Earnings
CEO Change
Guidance Update
- Portillo's reported Q4 2025 revenues of $185.7 million, a 0.6% increase year-over-year, primarily driven by non-comp restaurants, while same-restaurant sales declined by 3.3% due to decreased transactions.
- Restaurant-Level Adjusted EBITDA decreased to $40.6 million (21.8% margin) in Q4 2025, down from $45.2 million (24.5% margin) in the prior year, with the Texas market expansion contributing a 180 basis point headwind to consolidated margins. However, the Texas restaurants achieved slightly positive results in the final period of the quarter.
- The company announced Brett Patterson as its new Chief Executive Officer and has reset its development strategy to slow new store openings and focus on unit economics, with the new Kennesaw, Atlanta restaurant registering over $2 million in sales in its first eight weeks.
- For 2026, Portillo's anticipates Adjusted EBITDA to be flat versus 2025, including a $9 million headwind from bonus expense, and expects to open 8 new restaurants with capital expenditures between $55 million-$60 million. The company also forecasts mid-single-digit commodity inflation and 3%-3.5% labor inflation.
Feb 24, 2026, 3:00 PM
Portillo's Reports Q4 2025 Results, Announces New CEO, and Provides 2026 Outlook
PTLO
Earnings
CEO Change
Guidance Update
- Portillo's reported Q4 2025 revenues of $185.7 million, a 0.6% increase year-over-year, but same-restaurant sales declined 3.3% due to a 3.3% decrease in transactions.
- Restaurant-Level Adjusted EBITDA margins decreased to 21.8% from 24.5% in the prior year, with the Texas market expansion creating a 180 basis point headwind in Q4.
- The company has reset its development strategy, slowing new store openings, but saw strong performance from its new Atlanta restaurant in Kennesaw, which registered over $2 million in sales in its first eight weeks.
- For 2026, Portillo's anticipates Adjusted EBITDA to be flat versus 2025 and plans to open 8 new restaurants.
- Brett Patterson has joined Portillo's as the new Chief Executive Officer.
Feb 24, 2026, 3:00 PM
Portillo's Reports Q4 2025 Results, Announces New CEO, and Provides 2026 Outlook
PTLO
Earnings
CEO Change
Guidance Update
- Portillo's reported Q4 2025 revenue of $185.7 million, a 0.6% increase year-over-year, but same-restaurant sales declined 3.3% due to a 3.3% decrease in transactions.
- Restaurant-Level Adjusted EBITDA decreased to $40.6 million, with margins falling to 21.8% from 24.5% in the prior year, primarily due to a 180 basis point headwind from the Texas market expansion.
- Brett Patterson has joined Portillo's as the new Chief Executive Officer, and the company has reset its development strategy to slow new store openings and focus on healthy unit economics.
- For 2026, Portillo's anticipates Adjusted EBITDA to be flat versus 2025, with an estimated 8 new restaurant openings and total capital expenditures in the range of $55 million-$60 million.
- The company's Perks program has grown to over 2 million members and is expected to play a valuable role in driving traffic improvements in 2026.
Feb 24, 2026, 3:00 PM
Portillo's Inc. Announces Fourth Quarter and Fiscal Year 2025 Financial Results
PTLO
Earnings
Guidance Update
CEO Change
- Portillo's Inc. reported Q4 2025 total revenue of $185.7 million (up 0.6%) and fiscal year 2025 total revenue of $732.1 million (up 3.0%).
- Same-restaurant sales decreased by 3.3% in Q4 2025 and by 0.5% for fiscal year 2025, primarily driven by a decrease in transactions.
- Net income for Q4 2025 was $6.3 million, a decrease of $6.2 million, and for fiscal year 2025 was $21.1 million, a decrease of $14.0 million.
- For fiscal 2026, the company expects to open 8 new units, anticipates mid-single digit commodity inflation and 3% to 3.5% labor inflation, and projects Adjusted EBITDA to be flat versus 2025.
- Brett Patterson was appointed President and Chief Executive Officer, effective February 23, 2026.
Feb 24, 2026, 1:06 PM
Portillo's Inc. Reports Preliminary FY 2025 Results and Provides FY 2026 Outlook
PTLO
Earnings
Guidance Update
Management Change
- Portillo's Inc. reported preliminary unaudited FY 2025 total revenue of $732.1 million and same-restaurant sales of -0.5%, with Adjusted EBITDA of $97.3 million.
- For FY 2026, the company anticipates opening 8 new restaurants, projects Adjusted EBITDA to be flat compared to 2025, and expects Restaurant-Level Adjusted EBITDA Margin between 20.5% and 21%.
- The company's Interim Chief Executive Officer, Mike Miles, and Chief Financial Officer, Michelle Hook, are presenting at the 2026 ICR Conference, while the company continues its search for a new Chief Executive Officer.
- Portillo's is implementing a growth reset strategy, focusing on opening fewer restaurants in more territories, leading with single units, and emphasizing unit economics and four-wall ROI.
Jan 12, 2026, 12:30 PM
Portillo's Reports Q3 2025 Results and Updates Strategic Development Plan
PTLO
Earnings
Guidance Update
CEO Change
- Portillo's reported Q3 2025 revenues of $181.4 million, a 1.8% increase year-over-year, but same restaurant sales declined 0.8% driven by a 2.2% decrease in transactions.
- The company announced a strategic reset, slowing development in 2025 and 2026 after opening too many locations too quickly, particularly in Texas. They plan to open eight restaurants in 2026 and will focus on a more gradual growth pace and smaller format restaurants.
- Restaurant level adjusted EBITDA margins decreased to 20.2% in Q3 2025 from 23.5% in the prior year, primarily due to a 6.3% increase in commodity prices and higher labor costs.
- Portillo's updated its fiscal year 2025 Adjusted EBITDA guidance to $90 million to $94 million and G&A to $76 million to $79 million.
- Mike Miles has assumed the role of Interim Chief Executive Officer, also serving as Chairman of the Board.
Nov 4, 2025, 3:00 PM
Portillo's Announces Q3 2025 Results and Strategic Reset
PTLO
Earnings
Guidance Update
Management Change
- Portillo's (PTLO) reported Q3 2025 revenues of $181.4 million, an increase of 1.8% year-over-year, primarily driven by non-comp restaurants, while same-restaurant sales declined 0.8% due to a 2.2% decrease in transactions.
- Restaurant-level Adjusted EBITDA decreased to $36.7 million (20.2% margin) in Q3 2025, down from $41.9 million (23.5% margin) in the prior year, leading to an updated fiscal year 2025 Adjusted EBITDA guidance of $90-$94 million.
- The company announced a strategic reset, slowing development in 2025 and 2026 to focus on the guest experience and addressing low-volume restaurants, with eight new restaurants planned for 2026.
- Mike Miles was appointed Interim Chief Executive Officer, and the company recognized a $1.1 million net benefit from the CEO transition in Q3 2025, offset by other transition costs.
Nov 4, 2025, 3:00 PM
Portillo's Inc. Announces Third Quarter 2025 Financial Results
PTLO
Earnings
Guidance Update
Demand Weakening
- Portillo's Inc. reported Q3 2025 total revenue of $181.4 million, an increase of 1.8% year-over-year, alongside a 0.8% decrease in same-restaurant sales.
- Profitability declined significantly in Q3 2025, with net income at $0.8 million (down $8.0 million) and operating income at $5.4 million (down $10.6 million) compared to Q3 2024.
- The company is resetting its growth model, adopting a more measured pace in new markets and aiming for better unit economics.
- Portillo's updated its fiscal 2025 financial targets, projecting revenue between $730-$733 million and Adjusted EBITDA between $90-$94 million, with expected same-restaurant sales between (1%) to (1.5%).
Nov 4, 2025, 1:02 PM
Portillo's Updates Guidance, Slows Unit Growth, and Targets Lower Build Costs
PTLO
Guidance Update
New Projects/Investments
Demand Weakening
- Portillo's (PTLO) has lowered its full-year guidance and revised its same-store sales outlook, attributing the change to a tough restaurant environment and softness in top-line trends expected to continue into Q4.
- The company is strategically reducing new restaurant openings from 12 to 8 units for 2025 and guiding to 8 units for 2026, with a focus on improving unit economics and significantly lowering build costs to under $5 million for the 2026 class.
- Portillo's aims to be free cash flow positive in 2026 and beyond.
- The company is simplifying operations, including discontinuing breakfast offerings (except for one airport location), to maniacally focus on driving traffic at lunch and dinner and achieving best-in-class unit-level economics.
Sep 10, 2025, 8:30 PM
Portillo's Updates Guidance and Strategic Development Plans
PTLO
Guidance Update
Demand Weakening
New Projects/Investments
- Portillo's revised its same-store sales outlook and lowered its full-year guidance due to a challenging restaurant environment and top-line softness.
- The company reduced its new unit openings for 2025 from 12 to eight and plans to open eight new restaurants in 2026.
- Portillo's is focused on improving unit economics, targeting new restaurant build costs of less than $5 million for the 2026 class, down from $6.8 million for the 2024 class.
- To simplify operations and focus on core business, Portillo's is discontinuing its breakfast offering, except for the upcoming Dallas-Fort Worth Airport location.
- A new Chief Marketing Officer has been hired to enhance marketing efforts and brand awareness, particularly in new markets like Texas and Atlanta.
Sep 10, 2025, 8:30 PM
Quarterly earnings call transcripts for Portillo's.
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