other material
confidence high
sentiment negative
materiality 0.85
Portillo's cuts FY2025 outlook; same-store sales seen -1% to -1.5%, unit growth halved to 8
Portillo's Inc.
- Same-restaurant sales guidance revised to (1.0%)-(1.5%) from 1%-3%; Q3 SRS estimated (2.0%)-(2.5%).
- New unit openings reduced from 12 to 8 in FY2025; revenue target $730-733M.
- Restaurant-level adjusted EBITDA margin lowered to 21.0%-21.5% from 22.5%-23.0%.
- Adjusted EBITDA guided to $94-98M vs prior flat to low-single-digit growth; G&A cut to $72-75M.
- Discontinues Chicago breakfast pilot; plans 8 new units in FY2026, including first airport location (DFW) with build cost <$5M.