Earnings ·
Portillo's raises full-year adjusted EBITDA guidance to $98M-$101M and plans closure of underperforming restaurants
PTLOPortillo's Inc.
Portillo’s Inc. reported third-quarter revenue of $194.1 million, a 7.0% increase year-over-year, driven by new restaurant openings and a 1.4% same-restaurant sales growth. Net income rose to $4.8 million from $0.8 million in the prior year period. The company raised its full-year adjusted EBITDA guidance range to $98 million–$101 million from the previous target of $92 million–$96 million. Additionally, Portillo’s announced a plan to close a mid-to-high single digit number of underperforming restaurants outside of Chicagoland, with most closures expected in fiscal fourth quarter 2026, as part of an ongoing strategy to optimize its portfolio and improve profitability. The company operates a system of Chicago-style fast-casual restaurants.