$PTLO
Portillo's Inc. Stock $ptlo

$ptlo Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000187150923000054 Filed on May 04, 2023

Income Statement

Concept	2023 Q2	2023 Q1
Revenue	$169.2M	$156.1M
YoY Change	12.32%	16.05%
Cost Of Revenue	$56.23M	$53.63M
YoY Change	8.6%	15.91%
Gross Profit	$113.0M	$102.4M
YoY Change	14.27%	16.12%
Gross Profit Margin	66.76%	65.64%
Selling, General & Admin	$71.00M	$67.69M
YoY Change	16.92%	11.41%
% of Gross Profit	62.86%	66.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$5.940M	$5.670M
YoY Change	11.89%	8.93%
% of Gross Profit	5.26%	5.54%
Operating Expenses	$95.57M	$94.03M
YoY Change	17.14%	15.39%
Operating Profit	$17.38M	$8.493M
YoY Change	-0.34%	24.64%
Interest Expense	-$6.142M	-$7.237M
YoY Change	5.5%	21.1%
% of Operating Profit	-35.34%	-85.21%
Other Income/Expense, Net	$579.0K	$584.0K
YoY Change	-66.99%
Pretax Income	$11.44M	-$1.832M
YoY Change	-12.65%	-356.22%
Income Tax	$1.542M	-$559.0K
% Of Pretax Income	13.48%
Net Earnings	$6.788M	-$514.0K
YoY Change	32.81%	-364.95%
Net Earnings / Revenue	4.01%	-0.33%
Basic Earnings Per Share	$0.12	-$0.01
Diluted Earnings Per Share	$0.12	-$0.01
COMMON SHARES
Basic Shares Outstanding	55.00M shares	48.54M shares
Diluted Shares Outstanding	58.55M shares	49.60M shares

Balance Sheet

Concept	2023 Q2	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$22.46M	$14.61M
YoY Change	-54.84%	-54.6%
Cash & Equivalents	$22.46M	$14.61M
Short-Term Investments
Other Short-Term Assets	$5.139M	$5.879M
YoY Change	1.12%	-4.48%
Inventory	$6.493M	$5.259M
Prepaid Expenses	$5.139M	$5.879M
Receivables	$11.50M	$10.13M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$45.59M	$35.88M
YoY Change	-34.2%	-26.61%
LONG-TERM ASSETS
Property, Plant & Equipment	$429.9M	$237.2M
YoY Change	121.81%	23.49%
Goodwill	$394.3M	$394.3M
YoY Change	0.0%	0.0%
Intangibles	$254.3M	$255.0M
YoY Change	-1.51%	-1.53%
Long-Term Investments	$16.37M	$16.24M
YoY Change	1.8%	0.69%
Other Assets	$191.1M	$855.2M
YoY Change	-74.35%	14.28%
Total Long-Term Assets	$1.286B	$1.266B
YoY Change	37.0%	34.6%
TOTAL ASSETS
Total Short-Term Assets	$45.59M	$35.88M
Total Long-Term Assets	$1.286B	$1.266B
Total Assets	$1.331B	$1.302B
YoY Change	32.11%	31.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$24.15M	$22.13M
YoY Change	18.47%	-0.18%
Accrued Expenses	$36.38M	$27.59M
YoY Change	44.79%	29.75%
Deferred Revenue	$4.696M	$5.120M
YoY Change	1.01%	1.13%
Short-Term Debt	$10.00M	$10.00M
YoY Change
Long-Term Debt Due	$7.500M	$7.500M
YoY Change	125.63%	125.63%
Total Short-Term Liabilities	$89.03M	$83.74M
YoY Change	66.47%	61.59%
LONG-TERM LIABILITIES
Long-Term Debt	$289.2M	$289.0M
YoY Change	-8.32%	-8.44%
Other Long-Term Liabilities	$516.8M	$2.827M
YoY Change	13500.95%	-31.98%
Total Long-Term Liabilities	$806.0M	$795.0M
YoY Change	57.85%	55.96%
TOTAL LIABILITIES
Total Short-Term Liabilities	$89.03M	$83.74M
Total Long-Term Liabilities	$806.0M	$795.0M
Total Liabilities	$1.028B	$878.7M
YoY Change	82.22%	56.48%
SHAREHOLDERS EQUITY
Retained Earnings	$1.462M	-$5.326M
YoY Change	-113.73%	-66.2%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$303.6M	$290.2M
YoY Change
Total Liabilities & Shareholders Equity	$1.331B	$1.302B
YoY Change	32.11%	31.58%

Cashflow Statement

Concept	2023 Q2	2023 Q1
OPERATING ACTIVITIES
Net Income	$6.788M	-$514.0K
YoY Change	32.81%	-364.95%
Depreciation, Depletion And Amortization	$5.940M	$5.670M
YoY Change	11.89%	8.93%
Cash From Operating Activities	$24.82M	$6.486M
YoY Change	1.07%	710.75%
INVESTING ACTIVITIES
Capital Expenditures	$17.14M	$20.22M
YoY Change	-323.77%	221.96%
Acquisitions
YoY Change
Other Investing Activities	$7.000K	$26.00K
YoY Change	-76.67%
Cash From Investing Activities	-$17.14M	-$20.19M
YoY Change	124.56%	221.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net		$322.4M
YoY Change		38700.0%
Cash From Financing Activities	159.0K	-$16.11M
YoY Change	-74.35%	905.74%
NET CHANGE
Cash From Operating Activities	24.82M	$6.486M
Cash From Investing Activities	-17.14M	-$20.19M
Cash From Financing Activities	159.0K	-$16.11M
Net Change In Cash	7.846M	-$29.82M
YoY Change	-55.29%	321.07%
FREE CASH FLOW
Cash From Operating Activities	$24.82M	$6.486M
Capital Expenditures	$17.14M	$20.22M
Free Cash Flow	$7.680M	-$13.73M
YoY Change	-76.16%	150.59%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001871509
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-26
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-40951
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	PORTILLO'S INC.
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	87-1104304
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	2001 Spring Road
CY2023Q1	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 400
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Oak Brook
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	IL
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	60523
CY2023Q1	dei	City Area Code CityAreaCode	630
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	954-3773
CY2023Q1	dei	Security12b Title Security12bTitle	Class A common stock, $0.01 par value per share
CY2023Q1	dei	Trading Symbol TradingSymbol	PTLO
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2023Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
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CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	173414000	usd
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CY2023Q1	us-gaap	Indefinite Lived Trade Names IndefiniteLivedTradeNames	223925000	usd
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CY2023Q1	us-gaap	Equity Method Investments EquityMethodInvestments	16238000	usd
CY2022Q4	us-gaap	Equity Method Investments EquityMethodInvestments	16274000	usd
CY2023Q1	us-gaap	Deferred Income Tax Assets Net DeferredIncomeTaxAssetsNet	185943000	usd
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CY2023Q1	ptlo	Tax Receivable Agreement Liability Current TaxReceivableAgreementLiabilityCurrent	6309000	usd
CY2022Q4	ptlo	Tax Receivable Agreement Liability Current TaxReceivableAgreementLiabilityCurrent	813000	usd
CY2023Q1	us-gaap	Short Term Borrowings ShortTermBorrowings	10000000	usd
CY2022Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	0	usd
CY2023Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	5120000	usd
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CY2023Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	27592000	usd
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CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	288979000	usd
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CY2023Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
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CY2023Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	422986000	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest	-1273000	usd
CY2022Q1	us-gaap	Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest	550000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	5670000	usd
CY2022Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	5205000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	431000	usd
CY2022Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	621000	usd
CY2023Q1	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-118000	usd
CY2022Q1	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-22000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3537000	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3785000	usd
CY2023Q1	us-gaap	Straight Line Rent StraightLineRent	0	usd
CY2022Q1	us-gaap	Straight Line Rent StraightLineRent	-1253000	usd
CY2023Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-559000	usd
CY2022Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	165000	usd
CY2023Q1	ptlo	Tax Receivable Agreement Liability Adjustment TaxReceivableAgreementLiabilityAdjustment	584000	usd
CY2022Q1	ptlo	Tax Receivable Agreement Liability Adjustment TaxReceivableAgreementLiabilityAdjustment	0	usd
CY2023Q1	ptlo	Amortization Of Deferred Lease Incentives AmortizationOfDeferredLeaseIncentives	0	usd
CY2022Q1	ptlo	Amortization Of Deferred Lease Incentives AmortizationOfDeferredLeaseIncentives	105000	usd
CY2023Q1	ptlo	Gift Card Breakage GiftCardBreakage	329000	usd
CY2022Q1	ptlo	Gift Card Breakage GiftCardBreakage	293000	usd
CY2023Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-3465000	usd
CY2022Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-499000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-1816000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable Related Parties IncreaseDecreaseInAccountsReceivableRelatedParties	101000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable Related Parties IncreaseDecreaseInAccountsReceivableRelatedParties	8000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-2128000	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-931000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	957000	usd
CY2022Q1	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	319000	usd
CY2023Q1	ptlo	Increase Decrease In Operating Lease Assets IncreaseDecreaseInOperatingLeaseAssets	-2081000	usd
CY2022Q1	ptlo	Increase Decrease In Operating Lease Assets IncreaseDecreaseInOperatingLeaseAssets	0	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-3160000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-3708000	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-4513000	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-9745000	usd
CY2023Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-798000	usd
CY2022Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	0	usd
CY2023Q1	ptlo	Increase Decrease In Deferred Lease Incentives IncreaseDecreaseInDeferredLeaseIncentives	-850000	usd
CY2022Q1	ptlo	Increase Decrease In Deferred Lease Incentives IncreaseDecreaseInDeferredLeaseIncentives	-600000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	19000	usd
CY2022Q1	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	-30000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	6486000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	800000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	20216000	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	6279000	usd
CY2023Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	26000	usd
CY2022Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-20190000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-6279000	usd
CY2023Q1	us-gaap	Proceeds From Short Term Debt ProceedsFromShortTermDebt	10000000	usd
CY2022Q1	us-gaap	Proceeds From Short Term Debt ProceedsFromShortTermDebt	0	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	300000000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	usd
CY2023Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	322428000	usd
CY2022Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	831000	usd
CY2023Q1	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	166400000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	0	usd
CY2023Q1	ptlo	Payments For Repurchase Of Equity Held By Subsidiaries PaymentsForRepurchaseOfEquityHeldBySubsidiaries	166400000	usd
CY2022Q1	ptlo	Payments For Repurchase Of Equity Held By Subsidiaries PaymentsForRepurchaseOfEquityHeldBySubsidiaries	0	usd
CY2023Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	590000	usd
CY2022Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	0	usd
CY2023Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	19000	usd
CY2022Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans	127000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans	0	usd
CY2023Q1	ptlo	Payments Of Tax Receivable Agreement Liability PaymentsOfTaxReceivableAgreementLiability	813000	usd
CY2022Q1	ptlo	Payments Of Tax Receivable Agreement Liability PaymentsOfTaxReceivableAgreementLiability	0	usd
CY2023Q1	ptlo	Payments Of Deferred Financing Costs PaymentsOfDeferredFinancingCosts	3569000	usd
CY2022Q1	ptlo	Payments Of Deferred Financing Costs PaymentsOfDeferredFinancingCosts	0	usd
CY2023Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	0	usd
CY2022Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	771000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-16112000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1602000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-29816000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-7081000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	44427000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	39263000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	14611000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	32182000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	5703000	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	5356000	usd
CY2023Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	usd
CY2022Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	usd
CY2023Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	4852000	usd
CY2022Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	1626000	usd
CY2023Q1	ptlo	Increase Decrease In Liabilities Under Tax Receivable Agreement IncreaseDecreaseInLiabilitiesUnderTaxReceivableAgreement	47380000	usd
CY2022Q1	ptlo	Increase Decrease In Liabilities Under Tax Receivable Agreement IncreaseDecreaseInLiabilitiesUnderTaxReceivableAgreement	0	usd
CY2023Q1	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	10	state
CY2023Q1	ptlo	Number Of Food Production Commissaries NumberOfFoodProductionCommissaries	2	food_production_commissary
CY2023Q1	us-gaap	Number Of Restaurants NumberOfRestaurants	74	restaurant
CY2022Q4	us-gaap	Number Of Restaurants NumberOfRestaurants	71	restaurant
CY2023Q1	ptlo	Number Of Non Traditional Restaurants NumberOfNonTraditionalRestaurants	2	restaurant
CY2022Q4	ptlo	Number Of Non Traditional Restaurants NumberOfNonTraditionalRestaurants	2	restaurant
CY2023Q1	ptlo	Number Of Food Production Commissaries NumberOfFoodProductionCommissaries	2	food_production_commissary
CY2023Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
CY2023Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2023Q1	us-gaap	Fiscal Period FiscalPeriod	<div><span style="color:#d22630;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Fiscal Year </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses a 52- or 53-week fiscal year ending on the Sunday prior to or on December 31. In a 52-week fiscal year, each quarterly period is comprised of 13 weeks. The additional week in a 53-week fiscal year is added to the fourth quarter. Fiscal 2023 and 2022 consist of 53 and 52 weeks, respectively. The fiscal periods presented in this report are the quarters ended March 26, 2023 and March 27, 2022, respectively.</span></div>
CY2023Q1	us-gaap	Use Of Estimates UseOfEstimates	Use of EstimatesThe preparation of these condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the period. Actual results could differ from those estimates.
CY2023Q1	ptlo	Deferred Revenue Gift Card Sales That Will Not Be Redeemed Percent DeferredRevenueGiftCardSalesThatWillNotBeRedeemedPercent	0.11
CY2023Q1	ptlo	Gift Card Breakage GiftCardBreakage	300000	usd
CY2022Q1	ptlo	Gift Card Breakage GiftCardBreakage	300000	usd
CY2023Q1	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	3338000	usd
CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	5722000	usd
CY2023Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	121000	usd
CY2022Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	104000	usd
CY2023Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	962000	usd
CY2022Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	876000	usd
CY2023Q1	us-gaap	Other Inventory Net Of Reserves OtherInventoryNetOfReserves	838000	usd
CY2022Q4	us-gaap	Other Inventory Net Of Reserves OtherInventoryNetOfReserves	685000	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	5259000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	7387000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	348402000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	333507000	usd
CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	111186000	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	106471000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	237216000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	227036000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	5000000	usd
CY2022Q1	us-gaap	Depreciation Depreciation	4400000	usd
CY2023Q1	us-gaap	Number Of Reporting Units NumberOfReportingUnits	1	reporting_unit
CY2023Q1	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	223925000	usd
CY2023Q1	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	223925000	usd
CY2023Q1	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	280042000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	25039000	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	255003000	usd
CY2022Q4	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	223925000	usd
CY2022Q4	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	223925000	usd
CY2022Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	323832000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	66965000	usd
CY2022Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	255725000	usd
CY2023Q1	us-gaap	Adjustment For Amortization AdjustmentForAmortization	700000	usd
CY2022Q1	us-gaap	Adjustment For Amortization AdjustmentForAmortization	800000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	2167000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	2813000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	2707000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	2707000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	2707000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	2707000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	15270000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	31078000	usd
CY2022Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	usd
CY2023Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	usd
CY2023Q1	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	3521000	usd
CY2022Q4	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	3848000	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	306479000	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	318580000	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	288979000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	314425000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	300000	usd
CY2022Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	400000	usd
CY2023Q1	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	200000	usd
CY2022Q1	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	200000	usd
CY2023Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	7400000	usd
CY2022Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	6100000	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	173414000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	166808000	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	173414000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	166808000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	5088000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	4849000	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	210682000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	200166000	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	215770000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	205015000	usd
CY2023Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet	31381000	usd
CY2022Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet	194000	usd
CY2023Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	6828000	usd
CY2023Q1	us-gaap	Short Term Lease Cost ShortTermLeaseCost	152000	usd
CY2023Q1	us-gaap	Variable Lease Cost VariableLeaseCost	994000	usd
CY2023Q1	us-gaap	Lease Cost LeaseCost	7974000	usd
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P25Y3M18D
CY2022Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P25Y
CY2023Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.098
CY2022Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.098
CY2023Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	5773000	usd
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	7263000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	17722000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	23907000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	23924000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	24008000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	23306000	usd
CY2023Q1	ptlo	Lessee Operating Lease Liability To Be Paid Due After Year Four LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour	561757000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	674624000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	458854000	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	215770000	usd
CY2023Q1	ptlo	Lessee Operating Lease Lease Not Yet Commenced Option To Extend Reasonably Certain Amount LesseeOperatingLeaseLeaseNotYetCommencedOptionToExtendReasonablyCertainAmount	381400000	usd
CY2023Q1	ptlo	Lessee Operating Lease Lease Not Yet Commenced Option To Extend Amount LesseeOperatingLeaseLeaseNotYetCommencedOptionToExtendAmount	71300000	usd
CY2023Q1	ptlo	Tax Receivable Agreement Liability Current TaxReceivableAgreementLiabilityCurrent	6300000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-514000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	194000	usd
CY2023Q1	ptlo	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Shares Issued For Equity Based Compensation Plans ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesSharesIssuedForEquityBasedCompensationPlans	711000	usd
CY2022Q1	ptlo	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Shares Issued For Equity Based Compensation Plans ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesSharesIssuedForEquityBasedCompensationPlans	0	usd
CY2023Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Issuance Of Equity By Subsidiary To Noncontrolling Interests ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesIssuanceOfEquityBySubsidiaryToNoncontrollingInterests	43736000	usd
CY2022Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Issuance Of Equity By Subsidiary To Noncontrolling Interests ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesIssuanceOfEquityBySubsidiaryToNoncontrollingInterests	0	usd
CY2023Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Repurchase Of Shares By Subsidiary ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesRepurchaseOfSharesBySubsidiary	59000	usd
CY2022Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Repurchase Of Shares By Subsidiary ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesRepurchaseOfSharesBySubsidiary	0	usd
CY2023Q1	ptlo	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Changes In Tax Basis ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesChangesInTaxBasis	12493000	usd
CY2022Q1	ptlo	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Changes In Tax Basis ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesChangesInTaxBasis	0	usd
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3537000	usd
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3785000	usd
CY2023Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.305
CY2022Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.166
CY2023Q1	ptlo	Deferred Tax Assets Tax Receivable Agreement DeferredTaxAssetsTaxReceivableAgreement	34900000	usd
CY2023Q1	ptlo	Tax Receivable Agreement Liability Increase Decrease TaxReceivableAgreementLiabilityIncreaseDecrease	47400000	usd
CY2023Q1	ptlo	Tax Receivable Agreement Liability TaxReceivableAgreementLiability	298800000	usd
CY2023Q1	ptlo	Tax Receivable Agreement Amount Paid TaxReceivableAgreementAmountPaid	800000	usd
CY2022Q1	ptlo	Tax Receivable Agreement Amount Paid TaxReceivableAgreementAmountPaid	0	usd
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-1273000	usd
CY2022Q1	us-gaap	Profit Loss ProfitLoss	550000	usd
CY2023Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-759000	usd
CY2022Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	356000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-514000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	194000	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49599000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35807000	shares
CY2023Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
CY2022Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	4137000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49599000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	39944000	shares
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.01
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.01
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.00
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5345000	shares
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1196000	shares
CY2021Q4	ptlo	Tax Receivable Agreement Tax Payable Percent Of Tax Savings TaxReceivableAgreementTaxPayablePercentOfTaxSavings	0.85
CY2023Q1	ptlo	Tax Receivable Agreement Amount Paid TaxReceivableAgreementAmountPaid	800000	usd
CY2022Q1	ptlo	Tax Receivable Agreement Amount Paid TaxReceivableAgreementAmountPaid	0	usd
CY2023Q1	ptlo	Tax Receivable Agreement Liability Current TaxReceivableAgreementLiabilityCurrent	6309000	usd
CY2022Q4	ptlo	Tax Receivable Agreement Liability Current TaxReceivableAgreementLiabilityCurrent	813000	usd
CY2023Q1	ptlo	Tax Receivable Agreement Liability Noncurrent TaxReceivableAgreementLiabilityNoncurrent	292490000	usd
CY2022Q4	ptlo	Tax Receivable Agreement Liability Noncurrent TaxReceivableAgreementLiabilityNoncurrent	252003000	usd

Files In Submission

Name	View Source	Status
0001871509-23-000054-index-headers.html	Edgar Link	pending
0001871509-23-000054-index.html	Edgar Link	pending
0001871509-23-000054.txt	Edgar Link	pending
0001871509-23-000054-xbrl.zip	Edgar Link	pending
exhibit101derrickprattoffe.htm	Edgar Link	pending
exhibit31132623.htm	Edgar Link	pending
exhibit31232623.htm	Edgar Link	pending
exhibit32132623.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
image_0.jpg	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
ptlo-20230326.htm	Edgar Link	pending
ptlo-20230326.xsd	Edgar Link	pending
ptlo-20230326_g1.jpg	Edgar Link	pending
ptlo-20230326_g2.jpg	Edgar Link	pending
ptlo-20230326_g3.jpg	Edgar Link	pending
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ptlo-20230326_cal.xml	Edgar Link	unprocessable
ptlo-20230326_def.xml	Edgar Link	unprocessable
ptlo-20230326_lab.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
ptlo-20230326_pre.xml	Edgar Link	unprocessable
ptlo-20230326_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$PTLO
Portillo's Inc. Stock $ptlo

2023 Q2 Form 10-Q Financial Statement

#000187150923000054 Filed on May 04, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PTLO Portillo's Inc. Stock $ptlo

2023 Q2 Form 10-Q Financial Statement

#000187150923000054 Filed on May 04, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PTLO
Portillo's Inc. Stock $ptlo