Portillo's Inc. · NASDAQ:PTLO
Portillo's — Q1 2026 Earnings Presentation
17 slides from Portillo's's earnings presentation, May 5, 2026
Slide 1: First Quarter Earnings Supplemental
First Quarter Earnings Supplemental May 5, 2026
Slide 2: Cautionary Note on Forward-Looking Statements & Non-GAAP Measures
CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). All statements other than statements of historical fact are forward-looking statements. Forwa
Slide 3: Q1 2026 Performance
Q1 2026 PERFORMANCE REVENUE PROFITABILITY 3.5% $4.5 million Q1 Total Revenue $182.6 million Q1 Operating Income Growth Q1 Total revenue $0.5 million CHANGE IN SAME RESTAURANT SALES (1) Q1 Net Loss $34.8 million Q1 Restaurant-Level Adjusted EBITDA(2) $18.5 million Q1 Adjusted EBITDA(2) (1) Same resta
Slide 4: Fiscal 2026 Financial Targets
FISCAL 2026 FINANCIAL TARGETS 8 new units New Units (6 in first half and 2 in second half) Commodity Inflation Mid single digit Labor Inflation 3% to 3.5% Restaurant-Level Adjusted EBITDA Margin(1) 20.5% to 21% General & Administrative Expenses $80-$82 million Adjusted EBITDA(1) Flat vs. 2025 Capita
Slide 5: 2026 Development Expectations - New Restaurants
2026 DEVELOPMENT EXPECTATIONS - 8 NEW RESTAURANTS 2026 Openings • Fort Worth, TX (Opened in January) • Humble, TX (Opened in February) • El Paso, TX (Opened in March) • North Dallas, TX (Opened in March) • Frisco, TX (Opened in April) • Schertz, TX (First-in-market, San Antonio) • DFW Airport (First
Slide 6: Financial Profile
FINANCIAL PROFILE TOTAL REVENUE OPERATING INCOME NET INCOME ($ in millions) ($ in millions) ($ in millions) $58 $35 $711 $732 $738 $44 $38 $21 $17 2024 2025 LTM Q1 2026 2024 2025 LTM Q1 2026 2024 2025 LTM Q1 2026 SAME RESTAURANT SALES (1) RESTAURANT-LEVEL ADJ. EBITDA (Margin) (2) ADJ. EBITDA (Margin
Slide 7: Appendix
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Slide 8: Statement of Operations
STATEMENT OF OPERATIONS Quarter Ended March 29, 2026 March 30, 2025 REVENUES, NET $ 182,623 100.0 % $ 176,437 100.0 % COST AND EXPENSES: Restaurant operating expenses: Food, beverage and packaging costs 63,285 34.7 % 61,102 34.6 % Labor 49,195 26.9 % 46,868 26.6 % Occupancy 11,184 6.1 % 10,021 5.7 %
Slide 9: Revenue Summary - Q1 2026
REVENUE SUMMARY - Q1 2026 Quarter Ended March 29, March 30, 2026 2025 $ Change % Change Same-restaurant sales (83 restaurants) (1) $161,263 $161,420 (157) (0.1)% Restaurants not yet in comparable base opened in fiscal 2026 (4 restaurants) (1) 1,536 — 1,536 nm Restaurants not yet in comparable base o
Slide 10: Selected Operating Data
SELECTED OPERATING DATA Quarter Ended March 29, 2026 March 30, 2025 Total Restaurants (a) 106 94 AUV (in millions) (a) $ 8.3 $ 8.7 Change in same-restaurant sales (b) (0.1)% 1.8 % Adjusted EBITDA (in thousands) (b) $ 18,453 $ 21,209 Adjusted EBITDA Margin (b) 10.1 % 12.0 % Restaurant-Level Adjusted
Slide 11: Adjusted EBITDA Definitions
ADJUSTED EBITDA DEFINITIONS Adjusted EBITDA and Adjusted EBITDA Margin How These Measures Are Useful Adjusted EBITDA represents net income (loss) before depreciation and We believe that Adjusted EBITDA and Adjusted EBITDA Margin are important amortization, interest expense, interest income and incom
Slide 12: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION Quarter Ended March 29, 2026 March 30, 2025 Net (loss) income $ (509) $ 3,990 Net (loss) income margin (0.3)% 2.3 % Depreciation and amortization 7,936 7,040 Interest expense 5,627 5,749 Interest income (50) (71) Income tax (benefit) expense (164) 1,360 EBITDA 12,840 1
Slide 13: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION LTM Fiscal Years Ended March 29, 2026 December 28, 2025 December 29, 2024 Net income $ 16,592 $ 21,092 $ 35,076 Net income margin 2.2 % 2.9 % 4.9 % Depreciation and amortization 30,008 29,112 27,297 Interest expense 22,686 22,808 25,616 Interest income (254) (275) (309
Slide 14: Restaurant-Level Adjusted EBITDA Definitions
RESTAURANT-LEVEL ADJUSTED EBITDA DEFINITIONS Restaurant-Level Adjusted EBITDA and Restaurant-Level Adjusted Limitations of the Usefulness of This Measure EBITDA Margin Restaurant-Level Adjusted EBITDA and Restaurant-Level Adjusted EBITDA Margin Restaurant-Level Adjusted EBITDA is defined as revenue,
Slide 15: Restaurant-Level Adjusted EBITDA Reconciliation
RESTAURANT-LEVEL ADJUSTED EBITDA RECONCILIATION Quarter Ended March 29, 2026 March 30, 2025 Operating income $ 4,492 $ 10,381 Operating income margin 2.5 % 5.9 % General and administrative expenses 20,359 18,903 Pre-opening expenses 2,550 508 Depreciation and amortization 7,936 7,040 Net income attr
Slide 16: Restaurant-Level Adjusted EBITDA Reconciliation
RESTAURANT-LEVEL ADJUSTED EBITDA RECONCILIATION LTM Fiscal Years Ended March 29, 2026 December 28, 2025 December 29, 2024 Operating income $ 37,788 $ 43,677 $ 58,033 Operating income margin 5.1 % 6.0 % 8.2 % General and administrative expenses 78,596 77,140 75,089 Pre-opening expenses 10,844 8,802 9
Slide 17: Contact Information
CONTACT INFORMATION Investor Contact: Chris Brandon, Vice President of Investor Relations 312.931.5578 cbrandon@portillos.com Media Contact: Sara Wirth, Director of Communications & PR press@portillos.com