---
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"
generated_at: "2026-05-17T07:06:25.515996+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Portillo's cuts FY2025 outlook; same-store sales seen -1% to -1.5%, unit growth halved to 8

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-25-000133
- JSON: https://secwatch.observer/filing/0001871509-25-000133.json
- Plain text: https://secwatch.observer/filing/0001871509-25-000133.txt

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