Portillos Inc
NASDAQ:PTLO
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Portillos Inc
Portillo's, Inc. serves street food through high-energy, multichannel restaurants designed to ignite the senses and create a memorable dining experience. The company is headquartered in Oak Brook, Illinois and currently employs 7,453 full-time employees. The company went IPO on 2021-10-21. The firm's menu consists of Chicago-style hot dogs, Beef and sausage Sandwiches, Chicken, Char-Broiled Burgers, Sandwiches and Ribs, Salads, Barnelli’s Pasta, Sides and Soup, Desserts and shakes, Italian beef sandwiches, burgers, crinkle-cut French fries, homemade chocolate cake, signature chocolate cake shake and milkshakes. The company accommodates a range of access modes, including dine-in, carryout/curbside, delivery and catering. The company owns and operates approximately 69 restaurants across nine states, including Illinois, Arizona, Indiana, Florida, Iowa, Minnesota, Wisconsin, Michigan and California. The firm conducts its business through PHD Group Holdings LLC, known as Portillo’s OpCo and its subsidiaries. The firm also operates in non-traditional locations, which includes a food truck, ghost kitchen and concessions.
Portillo's, Inc. serves street food through high-energy, multichannel restaurants designed to ignite the senses and create a memorable dining experience. The company is headquartered in Oak Brook, Illinois and currently employs 7,453 full-time employees. The company went IPO on 2021-10-21. The firm's menu consists of Chicago-style hot dogs, Beef and sausage Sandwiches, Chicken, Char-Broiled Burgers, Sandwiches and Ribs, Salads, Barnelli’s Pasta, Sides and Soup, Desserts and shakes, Italian beef sandwiches, burgers, crinkle-cut French fries, homemade chocolate cake, signature chocolate cake shake and milkshakes. The company accommodates a range of access modes, including dine-in, carryout/curbside, delivery and catering. The company owns and operates approximately 69 restaurants across nine states, including Illinois, Arizona, Indiana, Florida, Iowa, Minnesota, Wisconsin, Michigan and California. The firm conducts its business through PHD Group Holdings LLC, known as Portillo’s OpCo and its subsidiaries. The firm also operates in non-traditional locations, which includes a food truck, ghost kitchen and concessions.
Revenue Growth: Q3 revenue was $181.4 million, up 1.8% year-over-year, driven by new non-comparable restaurants.
Sales Headwinds: Same-restaurant sales declined 0.8%, primarily due to a 2.2% drop in transactions, partially offset by a higher average check.
Margin Pressure: Restaurant-level EBITDA margins fell to 20.2% from 23.5% last year, impacted by commodity inflation, labor costs, and underperforming new locations.
Development Slowdown: Portillo's is slowing new restaurant openings in 2025 and 2026 to focus on operational execution and avoid cannibalization, with only pre-committed sites opening.
Updated Guidance: Adjusted EBITDA for fiscal 2025 is now expected to be $90 million to $94 million; G&A expense guidance raised to $76–79 million.
Marketing Focus: The loyalty program and targeted marketing, especially in new markets, helped boost comps, but overall traffic remains challenged.
Cost Inflation: Beef and labor costs are expected to remain elevated in 2025, with labor inflation forecast at 3–4% and commodity inflation at 3–5%.
