secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2026-05-05T23:59:59+00:00
Accession:  0001871509-26-000032
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Portillo's Q1 net loss $0.5M; same-restaurant sales -0.1%; CFO Hook departs
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- Revenue $182.6M (+3.5% YoY), but net loss $0.5M vs net income $4.0M in prior year.
- Operating income fell 56.7% to $4.5M; Adj EBITDA $18.5M, down 13% YoY.
- Same-restaurant sales -0.1% pressured by lower average check; opened 4 restaurants in Q1.
- CFO Michelle Hook departs effective May 5, 2026; board initiates successor search.
- FY2026 guidance: Adj EBITDA flat vs 2025; 8 new units; capex $55-60M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150926000032/0001871509-26-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150926000032/ptlo-20260505.htm
  HTML page:      https://secwatch.observer/filing/0001871509-26-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer