Portillo's Inc.
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Range $5 – $8
Price Chart
About the company
Portillo's Inc. , along with its affiliated companies, owns and operates a network of quick-service and fast-casual restaurants throughout the United States. The company's diverse menu prominently features classic Chicago-style hot dogs and sausages, savory Italian beef sandwiches, flame-grilled burgers, crisp chopped salads, signature crinkle-cut French fries, and celebrated homemade chocolate cakes and chocolate cake shakes.
- CEO
- Brett A. Patterson
- IPO
- 2021
- Employees
- 7,890
- HQ
- Oak Brook, IL, US
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Peers in the same neighborhood.
- Market Cap
- $343.47M
- P/E
- 23.71
- Fwd P/E
- 26.73
- PEG
- -0.41
- P/S
- 0.46
- P/B
- 0.72
- EV/EBITDA
- 15.49
- Div Yield
- 0.00%
- Gross Margin
- 24.14%
- Op Margin
- 5.48%
- Net Margin
- 1.85%
- ROE
- 2.95%
- ROIC
- 2.65%
Latest fiscal year · YoY change
- Revenue
- $732.07M+3.0%
- Gross Profit
- $288.67M+0.3%
- Op Income
- $51.20M
- Net Income
- $19.34M-34.5%
- EPS
- $0.28-41.7%
- OCF Growth
- -26.7%
- FCF Growth
- -288.1%
- 52W High
- $7.34
- 52W Low
- $3.77
- 50D MA
- $4.57
- 200D MA
- $4.99
- Beta
- 1.57
- RSI (14)
- 52
- Avg Volume
- 1.38M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Portillo’s reset strategy, cost actions, and disciplined development offset a softer Q2 tied to lapping promotions and cannibalization.· August 5, 2026
- Q2 revenue was $199 million, up 5.6% year over year, but same restaurant sales fell 1.2% as transactions declined 3.4% and average check rose 2.2%.
- Restaurant-level adjusted EBITDA was $43.2 million, with margin down about 190 bps to 21.7%; adjusted EBITDA was $29.8 million, versus $30.1 million last year.
- Management lowered full-year adjusted EBITDA guidance to $92 million to $96 million, citing non-comp reset, commodity pressure, and deliberate choices not to chase discounting.
- The company announced a strategic reset across operations, marketing, and development, with expected annualized run-rate savings of about $10 million to $15 million.
- Cash flow improved: year-to-date operating cash flow was $35.1 million, with $21.3 million in cash, $97 million drawn on the revolver, and $338 million of total net debt.
Q2 revenue was $199 million, up 5.6% year over year. Same restaurant sales declined 1.2%, driven by a 3.4% drop in transactions and a 2.2% increase in average check; food, beverage, and packaging cost rose to 35.0% of revenue from 33.8% last year, labor was flat at 25.7% of revenue, and restaurant-level adjusted EBITDA fell to $43.2 million with margin down about 190 bps to 21.7%. Adjusted EBITDA was $29.8 million, or 15.0% of revenue, versus $30.1 million, or 16.0% last year; interest expense was $5.7 million, income tax expense was $1.8 million, and the effective tax rate was 19.8%. On guidance, management now expects full-year adjusted EBITDA of $92 million to $96 million and still plans to open 8 restaurants in 2026, including one additional fourth-quarter opening in Downtown Chicago. Management said commodity inflation should remain in the mid-single digits for the year, expects about a 2% menu pricing benefit in Q3 absent further pricing actions, and noted they are 85% hedged in Q3 and Q4 for beef with about 63% of the rest of the basket locked.
Brett A. Patterson framed the quarter as evidence that Portillo’s brand remains resilient even while the company laps prior-year promotions, breakfast, and new-unit cannibalization. He emphasized a strategic reset built around operational excellence, integrated marketing, and disciplined development, saying the company now has clearer brand segmentation, brand positioning, and menu satisfaction insights. His tone was constructive and candid: he repeatedly pointed to poor development decisions in Texas and Arizona, but said the business now has better tools, better discipline, and a more efficient prototype path for 2028 and beyond.
Pamela Smith focused on the mechanics of the quarter: revenue growth came from non-comp restaurant additions, while same-store sales were pressured by a 3.4% transaction decline. She called out food inflation, noting food, beverage, and packaging cost rose to 35.0% of revenue, and said beef market costs were higher in Q2 but the company is 85% hedged in Q3 and Q4 with the rest of the basket about 63% locked. She also highlighted balance-sheet progress, with $35.1 million of year-to-date operating cash flow, $21.3 million in cash, $97 million outstanding on the revolver, $338 million of net debt, and about $49 million of remaining revolver capacity, and said cash will be used to pay down debt.
Analysts focused on the brand research, lower margin guidance, beef inflation, traffic softness, and underperformance in Texas and Arizona. Management said the research clearly identified target customer segments and brand positioning, and that menu work is still being finalized, with more strategy detail coming soon. On guidance, Brett said the lower EBITDA outlook was mainly due to resetting non-comp assumptions and some commodity inflation, not a fundamental surprise, and he said the company is positive quarter-to-date despite continued headwinds from lapping promotions. On Texas and Arizona, he said the company built too many restaurants too quickly, cannibalization was greater than modeled, and build costs were too high, while also saying transaction softness was expected because management chose not to chase deep discounting.
The call suggested Portillo’s still has strong brand affinity and customer loyalty, including outside Chicago, and management believes the brand can travel. The company is taking visible actions to improve unit economics, reduce costs, tighten development, and use a new prototype and better site-selection model to support better returns.
Near-term results are still being weighed down by lapping promotional activity, breakfast, and cannibalization, and management expects more headwinds in August and September. The company also acknowledged structural issues in Texas and Arizona, including overbuilding, poor site economics, and higher build costs that pressured margins and forced a reset of expectations.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 93.3%
- Shares Outstanding
- 72.38M
- Float Shares
- 67.50M
of shares held by institutions
193 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 4.91M | ▼ 210.20K |
| Orbis Allan Gray Ltd | 4.17M | ▼ 2.90M |
| Vanguard Group Inc | 3.98M | ▼ 1.21M |
| Engaged Capital LLC | 3.44M | 0 |
| Citadel Advisors LLC | 3.15M | ▲ 2.60M |
| Vanguard Capital Management LLC | 3.07M | ▲ 26.17K |
| Marshall Wace, Llp | 2.34M | ▲ 645.05K |
| Zuckerman Investment Group, LLC | 2.05M | ▼ 12.43K |
| Geode Capital Management, LLC | 1.81M | ▲ 144.30K |
| State Street Corp | 1.45M | ▲ 166.62K |
| Goldman Sachs Group Inc | 1.42M | ▲ 433.89K |
| Blair William & Co/Il | 1.24M | ▲ 129.59K |
Held by 107 ETFs
Biggest fund positions in PTLO by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 12, 26 | LEE EUGENE I JR | buy | 65,355 |
| May 31, 26 | Kaiser Kelly M | other | 3,161 |
| May 31, 26 | Kaiser Kelly M | other | 92 |
| May 31, 26 | Waite Jill Francine | other | 1,146 |
| May 31, 26 | Waite Jill Francine | other | 33 |
| May 31, 26 | Correia Keith M | other | 73 |
| May 31, 26 | Correia Keith M | other | 2 |
| May 20, 26 | Smith Pamela Faye | other | 0 |
| May 11, 26 | LEE EUGENE I JR | buy | 70,165 |
| May 2, 26 | Kaiser Kelly M | other | 1,840 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our PTLO coverage
Recent articles, reports, and earnings notes.
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