Portillo’s Q2 revenue slightly misses expectations as same-restaurant sales fall
PTLO•Outlook
Portillo’s targets 8 new restaurant openings in fiscal 2026.
The company expects fiscal 2026 adjusted EBITDA of $92-$96 mln and fiscal 2026 restaurant-level adjusted EBITDA margin of 19.5% to 20.5%.
Other details
The company cut 18% of its corporate headquarters workforce after the quarter to improve efficiency.
The current average analyst rating on the shares is "hold," with 4 "strong buy" or "buy," 9 "hold," and no "sell" or "strong sell." The average consensus recommendation for the restaurants & bars peer group is "buy."
Wall Street's median 12-month price target for Portillos Inc is $5.75, about 26.9% above its August 4 closing price of $4.53. The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 26 three months ago.
Quarterly results
Portillo’s Q2 revenue rose 5.6% year over year, slightly missing analyst expectations. Net income for Q2 fell 29% year over year, impacted by higher operating expenses.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Slight Miss* | $199 mln | $199.22 mln (11 Analysts) |
| Q2 Net Income | $7.20 mln | ||
| Q2 Rest. Level Adj. EBITDA | $29.80 mln | ||
| Q2 Operating Expenses | $155.70 mln | ||
| Q2 Operating Income | $13.80 mln |
