Portillo's Q4 revenue up 8.6% to $150.9M; net income $2.7M vs loss year ago; FY2023 same-store sales guidance 8-10%

Portillo's Inc.

Q4 total revenue $150.9M (+8.6% YoY); same-restaurant sales +6.0%; net income $2.7M vs net loss $33.8M in Q4 2021.
FY2022 revenue $587.1M (+9.7% YoY); net income $17.2M vs net loss $13.4M; Adjusted EBITDA $85.0M (-13.7%).
FY2023 guidance: same-restaurant sales growth 8-10%, total revenue growth 16-18% in Q1; nine new restaurants planned.
New $300M Term Loan and $100M revolver entered Feb 2023, maturing 2028, used to repay prior debt.
Commodity inflation 15.2% in FY2022; expect mid single digits in FY2023; menu price increases of 7.5% in FY2022 and additional 2% in Jan 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Portillo's Inc. reported the fourth quarter ended December 25, 2022 results: revenue $150.9 million, net income $2.7 million. Guidance initiated.

Period: the fourth quarter ended December 25, 2022
Revenue: $150.9 million
Net income: $2.7 million
Guidance: initiated
Result: reported results

Exact text from the filing

• Total revenue increased 8.6% or $12.0 million to $150.9 million; • Same-restaurant sales increased 6.0%; • Operating income increased $29.0 million to $6.4 million; • Net income increased $36.5 million to $2.7 million;

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Portillo's Inc. reported the fiscal year ended December 25, 2022 results: revenue $587.1 million, net income $17.2 million. Guidance initiated.

Period: the fiscal year ended December 25, 2022
Revenue: $587.1 million
Net income: $17.2 million
Guidance: initiated
Result: reported results

Exact text from the filing

• Total revenue increased 9.7% or $52.2 million to $587.1 million; • Same-restaurant sales increased 5.4%; • Operating income increased $11.3 million to $41.3 million; • Net income increased $30.6 million to $17.2 million;

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Portillo's Inc. filing history →

Source: SEC EDGAR

accession 0001871509-23-000015

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