Portillo's Q1 revenue up 16% to $156.1M; same-store sales +9.1% but net loss $1.3M on debt charge

Portillo's Inc.

2023-Q1 EPS reported -$0.01 revenue$156,061,000

Revenue $156.1M (+16.0% YoY); same-restaurant sales +9.1% (avg check +7.0%, transactions +2.1%).
Net loss $1.3M vs net income $0.6M; $3.5M loss on debt extinguishment from new $300M term loan.
Restaurant-Level Adj. EBITDA $34.8M (+24.4%); Adj. EBITDA $19.6M (+11.4%).
Commodity inflation eased to 8.9% (from 15.7%); expecting mid-single digits for FY2023.
Planning nine new restaurants in 2023; six new openings added $10.6M revenue in Q1.

item 2.02 item 7.01 item 9.01

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 first quarter ended March 26, 2023 results: revenue $156.1 million, net income a net loss of $1.3 million.

Period: the first quarter ended March 26, 2023
Revenue: $156.1 million
Net income: a net loss of $1.3 million
Result: reported results

Exact text from the filing

for our investors throughout the economic cycle.” Financial Highlights for the First Quarter 2023 vs. First Quarter 2022: • Total revenue increased 16.0% or $21.6 million to $156.1 million; • Same restaurant sales increased 9.1%; • Operating income increased $1.7 million to $8.5 million; • Net income decreased $1.8 million to a net loss of $1.3 million; •

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Source: SEC EDGAR

accession 0001871509-23-000053

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