Core Insights - Portillo's, Inc. is scheduled to host its Q3 2025 earnings webcast on November 4, 2025, at 10 a.m. EST, with the earnings release occurring before market open on the same day [1]. Company Overview - Portillo's has expanded from a small hot dog trailer in Chicago to over 90 restaurants across 10 states, offering a unique menu that includes Italian beef sandwiches, Chicago-style hot dogs, char-grilled burgers, fresh salads, and chocolate cake [2]. - The company operates a model that focuses on creating experience-oriented destinations, combining dine-in, drive-thru, takeout, and delivery services to meet customer demands [2]. - Portillo's aims to extend its iconic food and dining experience to a broader audience across the United States after six decades of successful operations [2].

Core Viewpoint - Portillo's has appointed Michael Miles Jr as interim CEO following the departure of Michael Osanloo, who served as president and CEO for seven years and will assist in the transition for 90 days [1][2]. Group 1: Leadership Changes - Michael Miles Jr, previously the chairman of Portillo's board, has taken over as interim CEO [1][5]. - Osanloo expressed gratitude for his time leading the company and acknowledged the contributions of the team [1]. - A search committee has been formed to find a permanent CEO, consisting of directors Paulette Dodson, GJ Hart, Eugene I Lee Jr, and Michael Miles Jr [2]. Group 2: Executive Background - Michael Miles Jr has extensive experience in the retail and restaurant sectors, having previously served as president and COO of Staples and COO of Pizza Hut [3]. - Eugene Lee Jr has been appointed as the lead independent director, bringing experience from his tenure as CEO of Darden Restaurants [4]. Group 3: Company Overview - Portillo's operates 90 outlets across ten US states, known for its Italian beef sandwiches, char-grilled burgers, Chicago-style hot dogs, salads, and chocolate cake [5].

Company Leadership Transition - Portillo's Inc. has appointed Michael A. Miles, Jr. as Interim CEO, effective immediately, succeeding Michael Osanloo who has departed the company [2][5] - A Search Committee has been established to identify the next CEO, comprising Directors Paulette Dodson, G.J. Hart, Eugene I. Lee, Jr., and Michael A. Miles, Jr., with assistance from an executive search firm [3] - Eugene I. Lee, Jr. has been appointed as Lead Independent Director during this transition period [5] Leadership Experience - Michael A. Miles, Jr. brings extensive leadership experience from the retail and restaurant industries, having previously served as President and COO of Staples and COO of Pizza Hut [4] - Miles has been Chairman of the Board at Portillo's since 2014 and served as Interim CEO from 2014 to 2015 [4] Company Overview - Portillo's has grown from a small hot dog trailer in Chicago to over 90 restaurants across 10 states, known for its menu of Italian beef sandwiches, Chicago-style hot dogs, and other offerings [6] - The company operates a model that focuses on experience, blending dine-in, drive-thru, takeout, and delivery to serve its guests [6]

Core Insights - Portillo's is implementing a strategic reset to focus on core markets, enhance unit economics, and ensure long-term success [1][2] - The company aims to drive sustainable traffic through consistent service and value, while also emphasizing disciplined development for strong unit economics [2] Financial Performance - Same-restaurant sales for Q3 2025 are expected to decline by 2.0% to 2.5% due to pricing and promotional dynamics [3] - Updated fiscal 2025 financial targets include: - Unit growth revised from 12 new units to 8 new units - Same-restaurant sales target adjusted from 1% to 3% to a range of (1%) to (1.5%) - Revenue target set at $730 to $733 million - Restaurant-level adjusted EBITDA margin revised from 22.5% to 23% to 21.0% to 21.5% - General and administrative expenses reduced from $78 to $80 million to $72 to $75 million - Pre-opening expenses decreased from $11 to $12 million to approximately $9 million - Adjusted EBITDA target set at $94 to $98 million [4][5] Development Outlook - The company plans to open 8 new restaurants in fiscal 2026, including its first airport location at DFW, with an average net build cost of less than $5 million per restaurant [6]

Core Viewpoint - Portillo's is implementing a strategic reset of its development and growth plans to focus on core markets, enhance unit economics, and ensure long-term success [1][2]. Financial Performance - The company anticipates same-restaurant sales for Q3 2025 to decline by 2.0% to 2.5% due to pricing and promotional dynamics in the industry [3]. - Updated fiscal 2025 financial targets include: - Unit growth revised from 12 new units to 8 new units - Same-restaurant sales target adjusted from 1% to 3% to a range of (1%) to (1.5%) - Revenue target set at $730 to $733 million - Restaurant-level adjusted EBITDA margin revised from 22.5% to 23% to a range of 21.0% to 21.5% - General and administrative expenses reduced from $78 to $80 million to a range of $72 to $75 million - Pre-opening expenses decreased from $11 to $12 million to approximately $9 million - Adjusted EBITDA target set at $94 to $98 million [4][5]. Development Outlook - For fiscal 2026, the company plans to open 8 new restaurants, including its first airport location at DFW, with an average net build cost of less than $5 million per restaurant [7]. Strategic Initiatives - The company aims to drive transactions by reinforcing value and service, simplifying operations, and optimizing capital deployment to achieve positive free cash flow in 2026 [8].

Core Insights - Portillo's has appointed Denise Lauer as Chief Marketing Officer, effective September 22, 2025, bringing over two decades of marketing experience in the foodservice and food CPG industries [1][2]. Company Overview - Portillo's is a unique restaurant brand that has expanded from a small hot dog trailer in Chicago to over 95 locations across 10 states, offering a menu that includes Italian beef sandwiches, Chicago-style hot dogs, and more [6]. Leadership and Strategy - Denise Lauer previously served as CMO for Marco's Pizza, where she led initiatives that positioned the brand as a top competitor in the U.S. pizza market, focusing on brand growth, digital marketing, and customer experience [2][3]. - Lauer's appointment is part of Portillo's strategy to strengthen its leadership team and enhance sales and transaction growth while providing exceptional dining experiences [4]. Marketing Initiatives - At Marco's Pizza, Lauer developed a multi-year innovation pipeline and a successful value platform that increased customer check and trip frequency, alongside driving digital transformation for online ordering [3]. - Lauer aims to enhance Portillo's digital capabilities and grow brand awareness as the company expands into new markets [5].

Core Insights - Portillo's Inc. reported a revenue increase of 3.6% to $188.5 million for Q2 2025 compared to $181.9 million in Q2 2024, driven by new restaurant openings and same-restaurant sales growth [4][8][28] - Same-restaurant sales rose by 0.7%, attributed to a 2.1% increase in average check, despite a 1.4% decrease in transactions [4][8] - Net income increased by 17.7% to $10.0 million in Q2 2025, up from $8.5 million in Q2 2024, primarily due to a tax receivable agreement liability adjustment [8][9] Financial Performance - Total restaurant operating expenses rose by 4.9% to $144.0 million, influenced by the opening of nine new restaurants and a 1.9% increase in commodity prices [5][28] - General and administrative expenses increased by 4.8% to $18.8 million, mainly due to higher professional fees and advertising costs [6][28] - Operating income decreased by 3.2% to $17.5 million, reflecting changes in revenue and expenses [7][28] Development Highlights - No new restaurants were opened in Q2 2025, but one new location was opened in Tomball, Texas, after the quarter, bringing the total to 95 [11][12] - The company plans to open 12 new restaurants in the second half of 2025, focusing on the Sunbelt region and entering Atlanta [12][13] Fiscal Targets - Updated fiscal 2025 targets include revenue growth of 5% to 7%, down from a previous target of 10% to 12% [13] - Same-restaurant sales growth target remains at 1% to 3%, with adjusted EBITDA growth expected to be flat to low single digits [13][14] Long-Term Outlook - Long-term financial targets include annual unit growth of 12% to 15% and mid-teens revenue growth [14][15]

Company Overview - Portillo's, Inc. (NASDAQ: PTLO) has expanded from a small hot dog trailer in Chicago to over 90 restaurants across 10 states [2] - The brand is recognized for its unique menu, which includes Italian beef sandwiches, Chicago-style hot dogs, char-grilled burgers, fresh salads, and chocolate cake [2] - Portillo's operates a company-owned model that focuses on creating experience-oriented destinations, offering dine-in, drive-thru, takeout, and delivery services [2] Upcoming Events - Portillo's will host a Q2 2025 Earnings Webcast on August 5, 2025, at 10 a.m. EST [1] - The earnings release for Q2 2025 will be available before the market opens on the same day [1] - The webcast will be accessible for replay on the Portillo's Investor Relations website [1]

Core Insights - Portillo's has appointed Eugene I. Lee, Jr. to its Board of Directors, bringing extensive experience from the restaurant industry [1][2] - Mr. Lee previously served as CEO of Darden Restaurants, where he oversaw a revenue increase of over $2 billion and nearly tripled the company's market capitalization to $20 billion [2] - The appointment aligns with Portillo's growth strategy and is supported by Engaged Capital, LLC [4][5] Company Overview - Portillo's, founded in 1963, has expanded to over 90 restaurants across 10 states, specializing in Chicago-style food [6] - The company is known for its hot dogs, Italian beef sandwiches, char-grilled burgers, fresh salads, and chocolate cake [6] - Portillo's offers a loyalty program called Portillo's Perks and provides options for online ordering and delivery [7] Leadership and Strategy - Mr. Lee's leadership is expected to enhance Portillo's operational efficiency and growth potential [3][5] - His background includes a focus on team members and customer experience, which aligns with Portillo's values [2][3] - The company aims to create lasting value for guests, team members, and shareholders under Mr. Lee's guidance [3]

Company Overview - Portillo's Inc. is a fast-casual restaurant chain known for its American classics with a Chicago twist, operating over 90 restaurants across 10 states [1] - The company was founded in 1963 by Dick Portillo, who started with a $1,100 investment in a hot dog stand called "The Dog House" [1] Investor Engagement - CFO Michelle Hook will present at William Blair's 45th Annual Growth Stock Conference on June 3, 2025, at 12:20 p.m. Eastern Time, with a presentation available at investors.portillos.com [3] - On June 4, 2025, CFO Michelle Hook will host a fireside chat at Baird's 2025 Global Consumer, Technology & Services Conference at 3:45 p.m. Eastern Time, along with in-person investor meetings [3] - CEO Michael Osanloo and CFO Michelle Hook will conduct in-person investor meetings at the Jefferies Consumer Conference on June 17 and 18, 2025 [3] Customer Engagement - Portillo's offers a loyalty program called Portillo's Perks, allowing fans to earn and redeem rewards [2] - Customers can order ahead for pickup or delivery through the Portillo's App or website, with food shipping available to all 50 states [2]