Quarterly ResultMay 5, 2026, 08:08 AM
Portillo's Q1 Net Loss $0.4M; EPS $(0.01)
AI Summary
Portillo's Inc. reported a net loss of $0.4 million for the first quarter ended March 29, 2026, translating to a basic and diluted EPS of $(0.01). This contrasts with a net income of $3.3 million and EPS of $0.05 in the prior year. Despite a 3.5% increase in net revenues to $182.6 million, operating income significantly declined by 56.7% to $4.5 million, partly due to a substantial increase in pre-opening expenses to $2.6 million. The company also saw an increase in cash from operating activities and is expanding with a new DFW airport joint venture.
Key Highlights
- Net loss attributable to Portillo's Inc. was $0.4 million, down from $3.3 million YoY.
- Basic and diluted EPS was $(0.01) for Q1 2026, compared to $0.05 in Q1 2025.
- Net revenues increased 3.5% to $182.6 million for the quarter.
- Operating income decreased 56.7% to $4.5 million.
- Pre-opening expenses rose to $2.6 million from $0.5 million YoY.
- Net cash provided by operating activities increased to $17.6 million.
- Company operated 105 restaurants as of March 29, 2026.
- Formed a joint venture for a DFW airport restaurant, opening Q2 2026.