secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001871509-24-000102
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Portillo's Q2 revenue up 7.5% to $181.9M; same-store sales down 0.6%; raises unit target to 10+
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- Revenue $181.9M (+7.5% YoY); net income $8.5M vs $9.9M; adj. EBITDA $29.9M (+2.2%).
- Same-restaurant sales -0.6% (transactions -2.3%, avg check +1.7%); vs +5.9% in prior Q2.
- Commodity inflation 6.9%; labor flat as % of revenue; menu prices up ~4.3% in 2024.
- Updated FY24 targets: unit growth to 10+ (from 9+); same-store sales flat to slightly positive; G&A $82-84M; capex $85-88M.
- Opened 4 restaurants YTD (2 post-quarter); total 88 restaurants; on track for 10+ new units.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150924000102/0001871509-24-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150924000102/ptlo-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001871509-24-000102

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