Chief Financial Officer Michelle Hook reported fourth-quarter revenue of $185.7 million, up $1.1 million, or 0.6%, from the prior year. Growth was driven by restaurants outside the comparable base, which contributed $7.8 million of the year-over-year increase. Same-restaurant sales declined 3.3%, which Hook said reduced revenue by roughly $5.4 million in the quarter, driven entirely by a 3.3% decrease in transactions.Miles also said the company recently hired Brett Patterson as Chief Executive Officer, desc ...

OAK BROOK, Ill., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Portillo’s Inc. (“Portillo’s” or the “Company”) (NASDAQ: PTLO), the one-of-a-kind restaurant concept known for its menu of Chicago-style favorites, today reported financial results for the fourth quarter and fiscal year ended December 28, 2025. Fourth Quarter 2025 Performance Highlights (vs. Fourth Quarter 2024): Total revenue of $185.7 million, an increase of 0.6% or $1.1 millionSame-restaurant sales decrease of -3.3%Operating income of $10.3 million, a de ...

Core Insights - Portillo's has appointed Brett Patterson as President and CEO, effective February 23, 2026, who will also join the Board of Directors [1] - Patterson has extensive leadership experience in the restaurant industry, focusing on operations, team development, and sustainable growth [2] - The Board believes Patterson possesses the necessary qualities to lead Portillo's into its next growth phase while maintaining the brand's unique identity [3] Company Overview - Portillo's is a fast-casual restaurant chain based in Chicago, known for its Italian beef sandwiches, Chicago-style hot dogs, and other menu items, with over 100 locations across 11 states [5] - The company operates a model that combines dine-in, drive-thru, takeout, and delivery, aiming to provide an experience-focused dining environment [5] - Portillo's is committed to expanding its brand and bringing its iconic food to a wider audience across the country [5] Leadership Vision - Patterson aims to enhance the company's overall strategy, focusing on market positioning, new restaurant growth, and operational excellence [3] - He emphasizes the importance of investing in team members and improving the guest experience as part of the company's growth strategy [3][4] - Patterson expresses excitement about joining Portillo's, highlighting the brand's strong culture and passionate fan base [4]

Company Overview - Portillo's, Inc. (NASDAQ: PTLO) has expanded from a small hot dog trailer in Chicago to over 100 restaurants across 11 states, offering a unique menu that includes Italian beef sandwiches, Chicago-style hot dogs, char-broiled burgers, fresh salads, and chocolate cake [2] Upcoming Earnings Event - Portillo's will host a Q4 & FY 2025 Earnings Webcast on February 24 at 10 a.m. EST, with the earnings release scheduled to be published before market open on the same day [1]

Core Insights - Portillo's is launching a "Season of Surprises" holiday promotion for its loyalty program, Portillo's Perks, featuring free menu items, discounts, and exclusive offers throughout December [1][2] Promotions and Offers - The promotion begins with a free small Candy Cane shake with a minimum $5 purchase available until December 7, with additional deals to follow [2] - New members of Portillo's Perks can receive a free large French fry with their first order of $5 or more [3][4] Company Overview - Portillo's has expanded from a small hot dog trailer in Chicago to over 100 restaurants across 11 states, offering a unique menu that includes Italian beef sandwiches, Chicago-style hot dogs, and more [5] - The company operates a model focused on providing an experience that includes dine-in, drive-thru, takeout, and delivery options [5] Loyalty Program - Portillo's Perks allows guests to earn and redeem rewards, with exclusive perks and surprise offers available through the program [6]

Core Insights - The Alger Small Cap Focus Fund's third-quarter 2025 investor letter indicates that U.S. equity markets experienced significant growth, with the S&P 500 Index rising by 8.12% due to improving economic conditions, solid corporate earnings, and expectations for monetary easing [1] - The fund's class A shares underperformed compared to the Russell 2000 Growth Index during the same period [1] Company Overview: Portillo's Inc. (NASDAQ:PTLO) - Portillo's Inc. is a fast-casual restaurant chain known for Chicago-style hot dogs and Italian beef sandwiches, operating company-owned locations across the U.S. [3] - The stock of Portillo's Inc. experienced a one-month return of -2.80% and a significant decline of 54.44% over the past 52 weeks, closing at $5.21 per share with a market capitalization of $374.767 million as of November 27, 2025 [2] Financial Performance - In the third quarter of 2025, Portillo's Inc. reported revenue of $181.4 million, which is an increase of $3.2 million compared to Q3 2024 [4] - The company reported weaker-than-expected fiscal second-quarter results, leading management to reduce full-year guidance for same-restaurant sales due to softer traffic and underperformance at newer locations [3] Investment Sentiment - Portillo's Inc. is not among the 30 most popular stocks among hedge funds, with 18 hedge fund portfolios holding the stock at the end of Q3 2025, down from 26 in the previous quarter [4] - While the potential for Portillo's Inc. as an investment is acknowledged, the fund suggests that certain AI stocks may offer greater upside potential and less downside risk [4]

Core Insights - Portillo's Inc. reported a revenue increase of 1.8% to $181.4 million for Q3 2025 compared to $178.3 million in Q3 2024, driven by new restaurant openings despite a decline in same-restaurant sales [4][9][10] - The company experienced a significant decrease in net income, which fell by 91.1% to $0.8 million from $8.8 million in the previous year, primarily due to increased operating expenses and impairment charges [8][9][10] - Adjusted EBITDA decreased by 23.4% to $21.4 million, reflecting challenges in maintaining profitability amid rising costs and a competitive market [10][9] Financial Performance - Total revenues for Q3 2025 were $181.4 million, up $3.2 million or 1.8% from Q3 2024 [4][9] - Same-restaurant sales decreased by 0.8%, attributed to a 2.2% drop in transactions, partially offset by a 1.4% increase in average check [4][9] - Total restaurant operating expenses rose by 6.2% to $144.7 million, driven by new restaurant openings and a 6.3% increase in commodity prices [5][9] - General and administrative expenses increased by 9.4% to $20.0 million, largely due to dead site costs [6][9] Operational Highlights - The company opened four new restaurants in Q3 2025, bringing the total to 99, with plans for three more openings in Q4 2025 [11][12] - Portillo's introduced a new in-line restaurant format, with future openings focusing on a smaller prototype designed for efficiency [12][11] - The company aims to open a total of eight new restaurants in fiscal 2025 [14] Financial Targets - Management updated fiscal 2025 targets, projecting revenues between $730 million and $733 million, with same-restaurant sales expected to decline by 1% to 1.5% [14] - Adjusted EBITDA is targeted between $90 million and $94 million, with capital expenditures estimated at $97 million to $100 million [14]

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]