10-K · February 24, 2026
Portillo’s 2025 10-K emphasizes a measured growth strategy built on a strong, nostalgic brand and multichannel operations: the company ended fiscal 2025 operating 102 restaurants across 11 states, launched its…
Earnings analysis · 10-Q
PTLO earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Portillo's reported Q1 2026 results with total revenue of $182.6 million, a 3.5% increase year-over-year but falling short of the $183.4 million consensus estimate. The company posted a net loss of $0.5 million (EPS of…
Read full summary
Portillo's reported Q1 2026 results with total revenue of $182.6 million, a 3.5% increase year-over-year but falling short of the $183.4 million consensus estimate. The company posted a net loss of $0.5 million (EPS of $(0.01)), a significant decline compared to a net income of $4.0 million the previous year, reflecting ongoing challenges in same-restaurant sales and increased operational costs.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.01
- Operating margin
- 2.5%
What stood out
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Revenue Growth Year-over-Year
Total revenue increased by 3.5%, up $6.2 million from $176.4 million in Q1 2025.
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Same-Restaurant Sales
Same-restaurant sales decreased by 0.1%, contrasting with a 1.8% growth in the prior year.
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Operating Income Decline
Operating income dropped to $4.5 million from $10.4 million, down $5.9 million year-over-year.
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Increased Commodity Inflation
Commodity inflation was reported at 1.8%, down from 3.4% in the prior year.
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Cash Flow Improvement
Net cash provided by operating activities increased by 85.8%, reaching $17.6 million compared to $9.5 million in Q1 2025.
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Development Expansion
Opened four new restaurants in Q1 2026, contributing to future growth.
What to watch
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Increased Operating Expenses
Labor, occupancy, and other operating expenses increased significantly, impacting margins.
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CEO Transition Risks
Leadership changes could introduce instability as the company adapts to new management styles.
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Negative Sales Trends
Same-restaurant sales declined by 0.1%, indicating potential ongoing sales performance challenges.
Management's outlook
Fiscal 2026 guidance remains flat for Adjusted EBITDA compared to 2025.
Earlier filings 4
10-Q · November 4, 2025
Portillo's reported Q3 revenue of $181,428,000, up $3,176,000 versus the year-ago quarter, but operating income collapsed to $5,434,000 and diluted EPS fell to $0.02. Management recorded a $2.2 million non-cash…
10-Q · May 6, 2025
Portillo’s reported Q1 revenues of $176,437,000, up $10,606,000 (+6.4%) versus Q1 2024 ($165,831,000), while operating income was essentially flat at $10,381,000. Diluted EPS fell to $0.05 from $0.08 a year ago, driven…
10-Q · November 5, 2024
Portillo’s reported quarter ended September 29, 2024 revenues of $178,252 (in thousands) and diluted EPS of $0.11, both up versus the prior-year quarter. Gross margin (food-based) remained stable at ~66.3% while…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.