{"schema_version":"secwatch.filing_event.v1","accession":"0001871509-25-000133","form_type":"8-K","ticker":"PTLO","cik":"0001871509","company_name":"Portillo's Inc.","filed_at":"2025-09-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.467112+00:00","generated_at":"2026-05-17T07:06:25.515996+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Portillo's cuts FY2025 outlook; same-store sales seen -1% to -1.5%, unit growth halved to 8","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001871509-25-000133","json":"https://secwatch.observer/filing/0001871509-25-000133.json","markdown":"https://secwatch.observer/filing/0001871509-25-000133.md","text":"https://secwatch.observer/filing/0001871509-25-000133.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1871509/000187150925000133/0001871509-25-000133-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1871509/000187150925000133/ptlo-20250910.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T07:06:25.515996+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}