secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001871509-23-000015
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150923000015/0001871509-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150923000015/ptlo-20230302.htm
  HTML page:      https://secwatch.observer/filing/0001871509-23-000015

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