Portillo’s Inc. (NASDAQ: PTLO) shares moved sharply lower first thing Tuesday. The one-of-a-kind restaurant concept known for its menu of Chicago-style favorites, today reported financial results for the first quarter ended March 29, 2026.
Total revenue of $182.6 million, an increase of 3.5% or $6.2 million
• Same-restaurant sales decrease of -0.1%
• Operating income of $4.5 million, a decrease of $5.9 million
• Net loss of $0.5 million, a decrease of $4.5 million from net income of $4.0 million
• Restaurant-Level Adjusted EBITDA(1) of $34.8 million, a decrease of $1.8 million
• Adjusted EBITDA of $18.5 million, a decrease of $2.8 million
“My first couple of months as CEO of Portillo’s have been productive and encouraging, and our team is making progress in identifying the priorities that will drive our growth strategy,” said CEO Brett Patterson. “Our focus is on building a sustainable, long-term plan centered on three priorities: consistently great operations, an integrated marketing strategy, and a disciplined development strategy that creates compelling shareholder value. I’m optimistic about Portillo’s future and look forward to sharing more as our plan takes shape.”
Net loss for the quarter ended March 29, 2026 was $0.5 million compared to a net income of $4.0 million for the quarter ended March 30, 2025, a decrease of $4.5 million or 112.8%.
PTLO opened Tuesday down 43 cents, or 7.6%, to $5.29.
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