Portillos Q2 revenue slightly misses expectations as same-restaurant sales fall

Portillos

05/08/2026 21:09

Overview
U.S. Chicago-style restaurant's Q2 revenue rose 5.6% yr/yr, slightly missing analyst expectations
Net income for Q2 fell 29% yr/yr, impacted by higher operating expenses
Company cut 18% of corporate headquarters workforce after quarter to improve efficiency

Outlook
Portillo’s targets 8 new restaurant openings in fiscal 2026
Company expects fiscal 2026 adjusted EBITDA of $92-$96 mln
Company sees fiscal 2026 restaurant-level adjusted EBITDA margin of 19.5% to 20.5%

Result Drivers
NEW RESTAURANT OPENINGS - Revenue growth was mainly driven by the opening of eight restaurants in fiscal 2025 and seven more in the first half of 2026
DECLINE IN TRANSACTIONS - Same-restaurant sales fell 1.2% due to a 3.4% decrease in transactions, partially offset by higher average check sizes from menu price increases
COST INFLATION - Higher commodity prices and labor investments contributed to increased operating expenses, with commodity prices up 7% year-over-year

Company press release: ID:nGNX2mVLtf

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Miss*
$199 mln
$199.22 mln (11 Analysts)
Q2 Net Income
 
$7.20 mln
 
Q2 Rest. Level Adj. EBITDA
 
$29.80 mln
 
Q2 Operating Expenses
 
$155.70 mln
 
Q2 Operating Income
 
$13.80 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the restaurants & bars peer group is "buy."
Wall Street's median 12-month price target for Portillos Inc is $5.75, about 26.9% above its August 4 closing price of $4.53
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 26 three months ago

Reuters Recommended Reads
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Aug 5 - Dine Brands beats Q2 revenue estimates, maintains 2026 guidance
Aug 5 - Bloomin' Brands Q2 revenue and adjusted EPS beat estimates, raises outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)