---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-24-000138"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2024-11-05T23:59:59+00:00"
generated_at: "2026-05-30T05:29:34.246225+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Portillo's Q3 revenue up 6.9% but same-store sales -0.9%; cuts 2024 unit and comp guidance

## Summary
- Revenue $178.3M (+6.9% YoY); same-restaurant sales -0.9% vs +3.9% in Q3 2023.
- Net income $8.8M vs $6.5M; Adjusted EBITDA $27.9M vs $27.3M.
- FY2024 unit growth target lowered to 10 new units; same-store sales guidance reduced to approximately (1.0%).
- Opened 4 new restaurants YTD Q3, 1 post-quarter; expects 5 more in Dec to reach 10 total in 2024.
- CEO Michael Osanloo noted top-line fell short of expectations but margins and cash flow were protected.

## SEC filing metadata
- accession: 0001871509-24-000138
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2024-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000138/0001871509-24-000138-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000138/ptlo-20241105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-24-000138
- JSON: https://secwatch.observer/filing/0001871509-24-000138.json
- Plain text: https://secwatch.observer/filing/0001871509-24-000138.txt

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