Portillo's Inc. (PTLO) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and thank you for standing by. Welcome to Portillo's third quarter 2025 conference call and webcast. I would now like to turn the call over to Chris Brandon, Vice President of Investor Relations at Portillo's to begin. Thank you, operator. Good morning, everyone, and welcome to the Portillo's third quarter 2025 earnings call. With me today are Mike Miles, Chairman of the Board and Interim Chief Executive Officer, and Michelle Hook, Chief Financial Officer. You can find our 10Q earnings press release, and supplemental presentation on investors.portillos.com. 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'll be happy to take questions from our covering sell-side analysts. And with that, I'll turn the call over to Mike. Thanks, Chris, and good morning. Although I've had the opportunity to meet many of you over the years at different venues, this is my first time speaking with you as interim CEO of Portillo's. I was also in this role back in 2014 and 15 after our founder, Dick Portillo, retired, so it's not my first time. And as most of you know, I have been chairman of the board for the past 10 years. I've been ...