Portillo’s (NASDAQ:PTLO) Releases Earnings Results, Misses Expectations By $0.02 EPS

Posted by George Bondi on May 5th, 2026

Portillo’s (NASDAQ:PTLO – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02), FiscalAI reports. The business had revenue of $182.62 million for the quarter, compared to the consensus estimate of $183.27 million. Portillo’s had a return on equity of 3.93% and a net margin of 2.64%.Portillo’s’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share.

Here are the key takeaways from Portillo’s’ conference call:

New CEO Brett Patterson outlined a three‑pillar strategy—operational excellence, integrated marketing, and disciplined development—and reiterated fiscal year guidance while prioritizing long‑term foundational work.
CFO Michelle Hook is departing and the company has launched an immediate search with a national executive search firm, saying the move is consistent with its internal succession plan.
First‑quarter revenue was $182.6 million (+3.5% YoY) driven by new restaurants, but same‑restaurant sales fell 0.1% and adjusted EBITDA declined to $18.5 million (10.1% of revenue), with restaurant‑level EBITDA margin down ~170 bps.
Promotions and the Portillo’s Perks loyalty offers (e.g., Big Burger Bundle, LTOs) increased transactions and Perks penetration but reduced average check and net effective pricing, and April showed weaker trends as the company lapped prior promotions.
Cost pressures from beef and produce and wage inflation pushed food/bev/packaging to 34.7% of revenue and labor to 26.9%, while net debt was about $347 million with $24 million cash, weighing on margins and capital flexibility.

Portillo’s Stock Down 13.9%

Shares of PTLO traded down $0.80 during trading hours on Tuesday, reaching $4.93. The stock had a trading volume of 2,299,660 shares, compared to its average volume of 1,717,527. Portillo’s has a 12 month low of $4.41 and a 12 month high of $13.55. The firm has a 50-day simple moving average of $5.59 and a 200 day simple moving average of $5.34. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $371.89 million, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.79 and a beta of 1.72.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PTLO. Roth Mkm began coverage on Portillo’s in a report on Tuesday, April 21st. They set a “buy” rating and a $9.00 price target on the stock. UBS Group cut their price target on Portillo’s from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. DA Davidson began coverage on Portillo’s in a report on Friday, March 6th. They set a “neutral” rating and a $5.50 price target on the stock. Morgan Stanley set a $7.00 price target on Portillo’s in a report on Tuesday, January 20th. Finally, Stephens restated an “equal weight” rating and set a $6.00 price target on shares of Portillo’s in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.64.

Check Out Our Latest Analysis on PTLO

Insider Activity

In other news, Director Eugene I. Lee, Jr. bought 286,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $5.18 per share, for a total transaction of $1,481,480.00. Following the acquisition, the director directly owned 416,250 shares in the company, valued at approximately $2,156,175. This trade represents a 219.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Portillo’s

A number of large investors have recently modified their holdings of the company. Orbis Allan Gray Ltd lifted its holdings in shares of Portillo’s by 2.3% in the 4th quarter. Orbis Allan Gray Ltd now owns 6,994,844 shares of the company’s stock worth $31,757,000 after purchasing an additional 155,205 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Portillo’s by 16.8% in the 2nd quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company’s stock worth $67,428,000 after purchasing an additional 830,460 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Portillo’s by 4.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,563,600 shares of the company’s stock worth $41,587,000 after purchasing an additional 149,931 shares in the last quarter. Millennium Management LLC purchased a new stake in Portillo’s in the 4th quarter valued at $10,350,000. Finally, Dimensional Fund Advisors LP raised its position in Portillo’s by 11.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,131,834 shares of the company’s stock valued at $13,750,000 after buying an additional 221,298 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

About Portillo’s

(Get Free Report)

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.