secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001871509-25-000151
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Portillo's Q3 net income falls 91% to $0.8M; cuts FY2025 outlook
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- Net income $0.8M vs $8.8M YoY; operating income down 66% to $5.4M.
- Same-restaurant sales -0.8% on 2.2% fewer transactions; menu prices up ~3.2%.
- Adjusted EBITDA $21.4M, down 23.4%; Restaurant-Level EBITDA $36.7M, down 12.5%.
- Updated FY2025 targets: rev $730-733M, adj EBITDA $90-94M, same-store sales -1 to -1.5%, 8 new units.
- CEO transition: Mike Miles interim; $3.3M dead site costs; $2.2M Barnelli's trade name impairment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150925000151/0001871509-25-000151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150925000151/ptlo-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001871509-25-000151

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