---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-23-000015"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T16:18:46.501314+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# 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%

## Summary
- 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.

## SEC filing metadata
- accession: 0001871509-23-000015
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000015/0001871509-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000015/ptlo-20230302.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-23-000015
- JSON: https://secwatch.observer/filing/0001871509-23-000015.json
- Plain text: https://secwatch.observer/filing/0001871509-23-000015.txt

## Key facts
- Earnings Releases
  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
  source text: • 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;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000015/0001871509-23-000015-index.htm
- Earnings Releases
  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
  source text: • 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;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000015/0001871509-23-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.