$PTLO

Portillo’s (PTLO) reported Q2 2026 revenue of $198.954M, up 5.6% year over year, but net income fell to $6.944M (-20%) and EPS to $0.0959 (-26%). Same-restaurant sales declined 1.2% and restaurant-level margins fell to 21.7%, with food, beverage and packaging costs at 35% of revenue. Management targets $10M to $15M annual cost savings.

Portillo’s announced it will appoint Kevin Kalicak as Chief Financial Officer and Treasurer effective Sept. 7, 2026. Kalicak previously held finance leadership roles at Darden Restaurants for more than 25 years, most recently as Senior VP of Finance for Olive Garden, which has over 900 restaurants and about $5 billion in annual sales. The CFO role will cover finance, investor relations, audit, tax, and related functions.

Portillo’s laid off about 18% of its Oak Brook, Illinois corporate staff, affecting roughly 36 employees, and a limited number of field management roles, with no restaurant-level layoffs, the company said. The move followed weaker same-store sales and higher beef and produce costs. Portillo’s reported Q2 chainwide revenue up 5.6% but same-store sales down 1.2%, and expects $10m-$15m annualized savings plus about $1.1m restructuring charges.

Analyst estimates compiled by FactSet show Portillo’s Inc. average 12-month price target was cut to $6.22 from $6.28. The range is $5 to $11 per share, implying about 33% upside versus the Aug. 5 close. The consensus rating remains “Buy” among 13 analysts (4 Buys, 9 Holds, 0 Sells).

Portillo’s CEO Brett Patterson said the company cut corporate jobs after Q2 to simplify G&A, lower costs, and shift resources to restaurant operations, without affecting restaurant-level staff. Portillo’s reported Q2 revenue of $199 million, same-store sales down 1.2%, and lowered adjusted EBITDA guidance to $92 million to $96 million, citing weaker newer markets, especially Texas.

Portillo’s said it cut 18% of staff at its Oak Brook, Illinois headquarters on July 31, affecting about 140 corporate employees, as part of a “strategic reset” tied to lower restaurant sales. The company said restaurant workers were not affected. CEO Brett Patterson cited efficiency and resource redirection for long-term growth.

Portillo’s (NASDAQ: PTLO) appointed Kevin Kalicak as Chief Financial Officer and Treasurer effective Sept. 7, 2026. According to the company, Kalicak previously held finance roles at Darden, including managing Olive Garden’s $5 billion annual sales across 900 locations. The board approved a one-time $825,000 RSU sign-on grant vesting over three years.

Portillo’s said it cut about 18% of corporate staff at its Oak Brook headquarters and some field management roles, while restaurant workers at its 109 locations were not affected. The company reported about 7,800 U.S. employees as of December. Portillo’s expects about $1.1 million in restructuring charges, with Q2 net income down to $7.2 million and same-restaurant sales down 1.2%, and noted higher beef and produce costs.

Portillo’s Inc. (Nasdaq: PTLO) reported 2Q total revenue of $199 million, up 5.6% year over year. Net income was $7.2 million, down $2.9 million, and adjusted EBITDA was $29.8 million, down $0.2 million. The company opened its first airport location at DFW and plans an inline restaurant in downtown Chicago. It outlined a 2026 outlook for restaurant-level adjusted EBITDA margin of 19.5% to 20.5% and adjusted EBITDA of $92-$96 million.

Portillo’s (NASDAQ:PTLO) reported Q2 CY2026 results. Revenue rose 5.6% year over year to $199 million, matching Wall Street expectations. GAAP EPS was $0.09, also in line with consensus. The company said underlying sales were resilient despite tougher promotional comparisons and it is simplifying operations. Same-store sales fell 1.2% YoY.