---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-24-000075"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T20:42:48.260706+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 6.3% to $165.8M; net income swings to $5.3M from loss

## Summary
- Revenue $165.8M (+6.3% YoY); same-store sales -1.2% (transactions -3.2%, check +2.0%).
- Net income $5.3M vs net loss $1.3M; operating income $10.1M vs $8.5M.
- Restaurant-Level Adj. EBITDA $36.4M (+4.5%); Adj. EBITDA $21.8M (+10.9%).
- Opened 1 restaurant in Q1 (Denton, TX) and 1 after quarter (Surprise, AZ); total 86.
- Menu prices raised ~1.5% in Jan and late March; commodity inflation slowed to 4.8%.

## SEC filing metadata
- accession: 0001871509-24-000075
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2024-05-07T23:59:59+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/1871509/000187150924000075/0001871509-24-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000075/ptlo-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-24-000075
- JSON: https://secwatch.observer/filing/0001871509-24-000075.json
- Plain text: https://secwatch.observer/filing/0001871509-24-000075.txt

## Key facts
- Earnings Releases
  Portillo's Inc. reported the first quarter ended March 31, 2024 results: revenue $165.8 million, net income $5.3 million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $165.8 million
  - Net income: $5.3 million
  - Result: reported results
  source text: the primary drivers of value creation at Portillo’s.” Financial Highlights for the First Quarter 2024 vs. First Quarter 2023: • Total revenue increased 6.3% or $9.8 million to $165.8 million; • Same-restaurant sales* decreased 1.2%; • Operating income increased $1.6 million to $10.1 million; • Net income increased $6.6 million to $5.3 million; • Restaurant-Level
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000075/0001871509-24-000075-index.htm

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