Welcome to our dedicated page for Portillo'S SEC filings (Ticker: PTLO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Portillo’s Inc. filings document the public-company disclosures of a fast-casual restaurant operator known for Chicago-style menu items and a company-owned restaurant model. Recent Forms 8-K furnish quarterly earnings releases and supplemental presentations, including revenue, same-restaurant sales, operating income, net income or loss, Restaurant-Level Adjusted EBITDA and adjusted EBITDA.
The filings also report Item 5.02 governance and officer matters, including chief executive officer, chief financial officer, chief development officer and board chair changes, together with related compensation arrangements and severance plan disclosures when applicable. The definitive proxy statement covers director elections, board governance, executive compensation, equity awards and annual-meeting voting matters.
Portillo’s Inc. appointed Pamela Smith as Interim Chief Financial Officer, effective May 20, 2026, following the previously announced departure of Michelle Hook. Smith will serve as both principal financial officer and principal accounting officer until successors are appointed.
Smith, age 59, brings prior senior financial planning and analysis experience from Estée Lauder and Redbox and currently leads a boutique advisory firm. Under an independent contractor agreement effective May 20, 2026 and expiring July 1, 2026 unless extended, she will be paid $14,000 per week and reimbursed for reasonable travel expenses but will not participate in company benefit or equity plans. The Board has started a search process for a permanent CFO with the help of a global executive search firm.
Portillo's Inc. ownership update filed by two institutional reporting persons shows 7,068,224 shares beneficially owned, representing 9.8% of Class A Common Stock. The filing attributes 7,026,720 shares of sole voting and dispositive power to Orbis Investment Management Ltd and 41,504 shares to Allan Gray Australia Pty Ltd.
The filing states the reporting persons are classified as non-U.S. institutions equivalent to an investment adviser and disclaims group beneficial ownership. The signatory certifies comparable foreign regulatory oversight and agrees to provide additional information to Commission staff upon request.
Portillo's Inc. director Eugene I. Lee Jr. reported an open-market purchase of 70,165 shares of Class A common stock at a weighted average price of $4.28 per share. The purchase was made indirectly through a family trust, which now holds 486,415 shares. Lee also holds 73,479 shares directly.
Portillo’s Inc. reported softer first-quarter results as margins compressed and earnings turned negative. Revenue rose to $182.6 million, up 3.5% year over year, driven mainly by new restaurant openings, while same-restaurant sales dipped 0.1% as lower average check offset slightly higher traffic.
Operating income fell to $4.5 million from $10.4 million, and the company posted a net loss of $0.5 million versus prior net income of $4.0 million. Restaurant-Level Adjusted EBITDA declined to $34.8 million, and Adjusted EBITDA to $18.5 million, reflecting higher labor, occupancy, pre‑opening, and advertising costs and deleverage from newer units.
Portillo’s operated 106 restaurants as of March 29, 2026 and opened four new locations in Texas during the quarter, with more openings planned, including an airport site at Dallas–Fort Worth. The company highlighted negative same-restaurant sales trends in April and expects further near-term headwinds as it laps prior promotions, while implementing about 2.0% menu price increases in April 2026. Liquidity included $24.0 million in cash and $41.6 million of revolver availability, against $349.3 million of debt and a $344.2 million Tax Receivable Agreement liability. Leadership changes continued, including appointment of a new CEO and an upcoming CFO departure.
Portillo’s Inc. reported softer profitability in its first quarter of 2026 despite higher sales and announced a CFO transition. Revenue for the quarter ended March 29, 2026 rose to $182.6 million, up 3.5% from $176.4 million, largely driven by new restaurant openings. Same‑restaurant sales slipped 0.1%, as a 0.9% lower average check outweighed a 0.8% increase in transactions.
Cost pressures weighed on earnings. Restaurant operating expenses increased 5.7% to $147.8 million, with higher commodity costs, labor investments and operating expenses. Operating income fell to $4.5 million from $10.4 million, and the company posted a net loss of $0.5 million versus net income of $4.0 million a year earlier. Adjusted EBITDA declined to $18.5 million from $21.2 million, and Restaurant-Level Adjusted EBITDA decreased to $34.8 million from $36.7 million.
Portillo’s opened four restaurants in the quarter and one more afterward, bringing the count to 107 locations, and targets eight new units in fiscal 2026, capital expenditures of $55–$60 million, Restaurant-Level Adjusted EBITDA margin of 20.5–21%, and Adjusted EBITDA roughly flat versus 2025. The company also disclosed that Chief Financial Officer Michelle Hook will depart effective May 5, 2026 to pursue another opportunity, and the board has begun a search for her successor.
Portillo's Inc. General Counsel Kelly M. Kaiser reported a routine tax-related share disposition. On May 2, 2026, 1,840 shares of Class A common stock were deducted at $6.49 per share to cover tax withholding on the vesting of a previously disclosed equity award. After this non-market transaction, Kaiser directly holds 142,288 shares of Portillo's Class A common stock.
Portillo's Inc. CFO & Treasurer Michelle Greig Hook reported a routine tax-related share disposition. A total of 3,992 shares of Class A common stock were withheld at $6.49 per share to satisfy tax obligations on the vesting of a previously disclosed equity award. After this non-market transaction, she directly holds 301,322 shares.
Portillo's Inc. Chief People Officer Jill Francine Waite reported a routine tax-related share disposition. On the vesting of a previously disclosed equity award, 1,840 shares of Class A common stock were withheld at $6.49 per share to satisfy tax withholding obligations, rather than being sold in the open market. After this withholding, she directly holds 132,178 shares of Portillo's Class A common stock.
Portillo's Inc. Chief Information Officer Keith M. Correia reported a routine tax-related share disposition. On the vesting of a previously disclosed equity award, 1,226 shares of Class A common stock were withheld at $6.49 per share to satisfy tax withholding obligations. After this non-open-market transaction, he directly holds 86,983 shares of Portillo's Class A common stock.
Portillo's Inc. Chief Information Officer Keith M. Correia reported a routine share disposition related to taxes. On the vesting of a previously disclosed equity award, 601 shares of Class A common stock were deducted at $6.50 per share to satisfy tax withholding obligations, rather than being sold in the open market.
After this tax-withholding transaction, Correia directly held 88,209 shares of Portillo's Class A common stock, indicating that the event is a small adjustment to his overall equity position rather than a discretionary sale.