secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001871509-23-000053
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150923000053/0001871509-23-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150923000053/ptlo-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001871509-23-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer