Portillo's Inc. (PTLO) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and thank you for standing by. Welcome to the fiscal first quarter 2025 Portillo's conference call and webcast. I would now like to turn the call over to Kyle Nelson, Vice President, Investor Relations at Portillo's to begin. Please go ahead. Thank you, Operator. Good morning, everyone, and welcome to our fiscal first quarter 2025 earnings call. You can find our 10-Q earnings press release and supplemental presentation on investors.portillos.com. With me on the call today is Michael Asanlu, President and Chief Executive Officer, and Michelle Hook, Chief Financial Officer. Any commentary made here about our future results and business conditions are forward-looking statements, which are based on management's current expectations and are not guarantees of future performance. We do not update these forward-looking statements unless required by law. Our 10-K identifies risk factors that may cause our actual results to vary materially from these forward-looking statements. Today's earnings call will make reference to non-GAAP financial measures, which are not an alternative to GAAP measures. Reconciliations of these non-GAAP measures to their most comparable GAAP counterparts are included in this morning's posted materials. Finally, after we deliver our prepared remarks, we will open the lines for your questions. Now let me turn the call over to Michael O'Sonlu, President and Chief Executive Officer of Portillo's. Thank you, Kyle. Good morning, everyone. Thank you for joining us today. Before we get into the results, I want to first thank our dedicated team members. Their hard work and commitment to the Portillo's experience is what keeps us moving forward, no matter the challenges. Our first quarter was similar to most others in the restaurant industry. We started...