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.
AllianceBernstein L.P. filed an amended ownership report regarding its position in Portillo's Inc63,390 shares of Portillo's common stock, held solely for investment purposes in client discretionary investment advisory accounts.
AllianceBernstein states it has sole voting power and sole dispositive power over all 63,390 shares, with no shared voting or dispositive power. This position represents approximately 0.1% of the outstanding common stock, and the filer confirms ownership of 5 percent or less of this class of securities.
Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd report beneficial ownership of Portillo's Inc. Class A common stock. Together they report 4,171,276 shares, representing 5.8% of the class, held in discretionary accounts for their clients.
Orbis holds sole voting and dispositive power over 4,115,801 shares, while Allan Gray Australia holds sole voting and dispositive power over 55,475 shares. Each entity states it is a Non‑U.S. Institution equivalent to an Investment Adviser and disclaims beneficial ownership of shares beneficially owned by the other. Other persons have rights to receive dividends and sale proceeds for the securities held in these managed accounts.
Portillo's Inc. director Eugene I. Lee Jr. reported an indirect open-market purchase of Class A common stock through a Family Trust. The trust acquired 65,355 shares on 2026-08-12 at a weighted average price of $4.59 per share, with execution prices ranging from $4.51 to $4.63. Following this transaction, the Family Trust held 551,770 shares indirectly, and a separate line shows 73,479 shares held directly. The transaction was not reported as made pursuant to a Rule 10b5-1 trading plan.
Portillo’s Inc. reported modest top-line growth but weaker profitability for the quarter ended June 28, 2026. Revenue rose 5.6% to $199.0 million, driven by new restaurant openings, while same-restaurant sales declined 1.2% as transactions fell 3.4% and higher menu prices only partly offset traffic softness.
Operating income decreased to $13.8 million from $17.5 million and net income to $7.2 million from $10.0 million, pressured by 7.0% commodity inflation, higher occupancy and operating costs, increased depreciation from recent openings, and a $1.7 million legal reserve. Restaurant-Level Adjusted EBITDA slipped to $43.2 million with margin contracting to 21.7%.
The company continues an aggressive development strategy, operating 109 restaurants across 11 states, including its first airport location at Dallas–Fort Worth International Airport, with one additional 2026 opening planned. It ended the quarter with $21.3 million in cash, $340.8 million outstanding under its credit facilities, and remained in compliance with covenants. Subsequent events include a headquarters workforce reduction, expected to incur about $1.1 million of restructuring charges, and the appointment of a new Chief Financial Officer effective September 7, 2026.
Portillo’s Inc. reported second quarter 2026 revenue of $199.0 million, up 5.6% from $188.5 million a year earlier, driven mainly by new restaurant openings. Same-restaurant sales declined 1.2% as transactions fell 3.4%, partly offset by a 2.2% increase in average check. Net income decreased to $7.2 million from $10.0 million, and operating income fell to $13.8 million as higher commodity costs, labor, occupancy and other operating expenses outpaced revenue growth. Adjusted EBITDA was broadly stable at $29.8 million versus $30.1 million, while Restaurant-Level Adjusted EBITDA slipped to $43.2 million from $44.5 million.
The company ended the quarter with 109 restaurants, including its first airport location at Dallas–Fort Worth International and several new Texas units, and plans one additional in-line Chicago restaurant in the fourth quarter. For fiscal 2026, management targets 8 new units, Restaurant-level Adjusted EBITDA margin of 19.5%–20.5%, Adjusted EBITDA of $92–$96 million, and capital expenditures of $55–$60 million. On July 31, 2026 Portillo’s implemented a reduction in force that cut its corporate headquarters active workforce by approximately 18%, with no restaurant-level team members impacted.
Portillo’s Inc. appointed Kevin Kalicak, 53, as Chief Financial Officer and Treasurer, serving as principal financial and accounting officer, effective September 7, 2026. He succeeds interim CFO Pamela Smith and brings more than 25 years of financial leadership at Darden Restaurants, including senior finance and investor relations roles.
Under his employment terms, Kalicak will receive a $500,000 base salary, an annual bonus target of 75% of base salary, and a Long-Term Incentive Plan target of $750,000 split between RSUs with three-year vesting and Performance Stock Units with time/performance conditions. He will also receive a $100,000 sign-on cash award, a $187,500 guaranteed 2026 incentive, relocation reimbursement up to $100,000, and a one-time RSU sign-on grant with a grant-date value of $825,000 vesting ratably over three years as an employment inducement award under Nasdaq Listing Rule 5635(c)(4). The company states there are no family relationships or related-party interests requiring disclosure.
Portillo’s Inc. has amended its agreement with Pamela Smith, who serves as Interim Chief Financial Officer and principal accounting officer. The amendment extends her interim CFO role through the earlier of December 31, 2026 or the appointment of a permanent CFO.
Effective June 29, 2026, the company also designated Ms. Smith as Treasurer, adding customary treasury duties under its delegation of authority policy. All other material terms of her existing independent contractor agreement, including compensation and responsibilities, remain unchanged.
Portillo’s Inc. reported the results of its 2026 Annual Meeting of Shareholders held on June 9, 2026. Shareholders voted their Class A and Class B common stock, with 72,160,015 Class A shares and 3,424,546 Class B shares outstanding and entitled to vote as of April 10, 2026.
Seven directors were elected to serve until the 2027 annual meeting, with each nominee receiving more votes "For" than "Withhold"; for example, Eugene I. Lee, Jr. received 41,248,080 votes for and 1,026,855 withheld, with 19,301,913 broker non-votes. Shareholders also approved, on an advisory basis, the compensation of the Named Executive Officers, with 38,587,229 votes for and 3,260,842 against.
In addition, shareholders ratified the appointment of Deloitte & Touche LLP as the company’s independent auditor for fiscal year 2026, with 59,880,212 votes for, 1,348,904 against, and 347,732 abstentions. These results confirm continued support for the current board, executive pay program, and audit firm.
Portillo's Inc. General Counsel and Secretary Kelly M. Kaiser reported routine share-based compensation activity in Class A common stock. Kaiser received a grant or award of 3,161 shares at $3.86 per share, while 92 shares were withheld to cover tax obligations tied to the vesting of this award. Following these transactions, Kaiser directly holds 145,357 shares of Portillo's Class A common stock. The filing reflects compensation and tax withholding events rather than open-market buying or selling.
Portillo's Inc. Chief People Officer Jill Francine Waite reported routine equity compensation activity in Class A common stock. She acquired 1,146 shares at $3.86 per share through the 2022 Employee Stock Purchase Plan for the March 1 to May 31, 2026 purchase period, at 90% of the May 29, 2026 closing price. To cover tax withholding on the vesting of this award, 33 shares were deducted. Following these transactions, she directly holds 133,291 shares of Class A common stock.