---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-23-000053"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:04:56.518618+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001871509-23-000053
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000053/0001871509-23-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000053/ptlo-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-23-000053
- JSON: https://secwatch.observer/filing/0001871509-23-000053.json
- Plain text: https://secwatch.observer/filing/0001871509-23-000053.txt

## Key facts
- Earnings Releases
  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
  source text: 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; •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150923000053/0001871509-23-000053-index.htm

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