Portillo’s second quarter revenue hits $199 million

• Portillo’s second-quarter revenue increased 5.6% to $199 million, mainly because of new restaurant openings.
• Net income fell 28.8% to $7.2 million as commodity, labour and occupancy costs increased.
• Portillo’s maintained plans for eight new restaurants while reducing its corporate headquarters workforce by approximately 18%.

Portillo’s (NASDAQ:PTLO) reported second-quarter revenue of $199 million, up 5.6%, as recently opened restaurants added $13.3 million to sales.

Revenue increased from $188.5 million, but same-restaurant sales fell 1.2% as transactions declined 3.4% and average customer spending rose 2.2%.

Net income declined 28.8% to $7.2 million, adjusted EBITDA fell 0.8% to $29.8 million and restaurant-level adjusted EBITDA decreased 2.8% to $43.2 million.

Following the announcement, Portillo’s share price was up 2.6% at $4.65, while the company forecast fiscal 2026 adjusted EBITDA of $92–$96 million.

Portillo’s opened three restaurants during the quarter, including its first airport location, bringing its system to 109 restaurants.

The company reduced its corporate headquarters workforce by approximately 18% on July 31, while stating that no restaurant-level employees were affected.