secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001871509-24-000075
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 6.3% to $165.8M; net income swings to $5.3M from loss
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150924000075/0001871509-24-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150924000075/ptlo-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001871509-24-000075

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