---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-24-000012"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2024-02-27T23:59:59+00:00"
generated_at: "2026-06-05T13:16:09.690243+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Portillo's Q4 revenue up 24.5%, FY revenue up 15.8%; net income $9.6M Q4, $24.8M FY

## Summary
- Total revenue increased 24.5% to $187.9M in Q4 2023 (14 weeks) vs prior year
- Same-restaurant sales up 4.4% in Q4 and 5.7% for fiscal year 2023
- Opened 12 new restaurants in FY2023, bringing total to 84; plans at least 9 more in 2024
- Commodity inflation moderated to 4.4% in Q4 2023 from 14.5% in prior year period
- Adjusted EBITDA grew 44.5% in Q4 to $26.1M and 20.4% for FY to $102.3M

## SEC filing metadata
- accession: 0001871509-24-000012
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2024-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000012/0001871509-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000012/ptlo-20240227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-24-000012
- JSON: https://secwatch.observer/filing/0001871509-24-000012.json
- Plain text: https://secwatch.observer/filing/0001871509-24-000012.txt

## Key facts
- Earnings Releases
  Portillo's Inc. reported the fourth quarter ended December 31, 2023 results: revenue $187.9 million, net income $9.6 million.
  - Period: the fourth quarter ended December 31, 2023
  - Revenue: $187.9 million
  - Net income: $9.6 million
  - Result: reported results
  source text: Financial Highlights for the Fourth Quarter 2023 (14 weeks)* vs. Prior Year (13 weeks)*: • Total revenue increased 24.5% or $37.0 million to $187.9 million; • Same-restaurant sales** increased 4.4%; • Operating income increased $8.0 million to $14.5 million; • Net income increased $7.0 million to $9.6 million; • Restaurant-Level Adjusted EBITDA**** increased $13.7 million to $45.7 million; and • Adjusted EBITDA**** increased $8.1 million to $26.1 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000012/0001871509-24-000012-index.htm
- Earnings Releases
  Portillo's Inc. reported the fiscal year ended December 31, 2023 results: revenue $679.9 million, net income $24.8 million.
  - Period: the fiscal year ended December 31, 2023
  - Revenue: $679.9 million
  - Net income: $24.8 million
  - Result: reported results
  source text: Financial Highlights for Fiscal Year 2023 (53 weeks)* vs. Prior Year (52 weeks)*: • Total revenue increased 15.8% or $92.8 million to $679.9 million; • Same-restaurant sales*** increased 5.7%; • Operating income increased $14.2 million to $55.4 million; • Net income increased $7.7 million to $24.8 million; • Restaurant-Level Adjusted EBITDA**** increased $32.7 million to $165.2 million; and • Adjusted EBITDA**** increased $17.3 million to $102.3 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000012/0001871509-24-000012-index.htm

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