The law firm of Kirby McInerney LLP reminds investors of its investigation on behalf of Portillo’s Inc. (“Portillo’s” or the “Company”) (NASDAQ: PTLO) investors concerning the Company’s and/or members of its senior management’s possible violation of the federal securities laws or other unlawful business practices.

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What Happened?

On August 5, 2025, Portillo’s reported its second quarter 2025 financial results, reducing its fiscal 2025 revenue growth target from a range of 10% to 12% to a range of 5% to 7% and lowering its adjusted EBITDA growth expectations from 5% to 8% to “flat to low single-digits”. The Company also revealed that same-restaurant sales increased only 0.7% during the quarter while transactions declined 1.4%. On this news, the price of Portillo’s shares declined by $2.21 per share, or approximately 23.3%, from $9.49 per share on August 4, 2025 to close at $7.28 on August 5, 2025.

Then, on September 10, 2025, Portillo’s provided a business update and announced a strategic reset of its development and growth plans. The Company revealed that it expected third quarter 2025 same-restaurant sales to decline by 2.0% to 2.5%. Additionally, Portillo’s updated its fiscal 2025 financial targets, reducing its unit growth target from 12 to 8 new restaurants, lowering same-restaurant sales from an increase of 1% to 3% to a decrease of 1% to 1.5%, and cut its EBITDA margin from a range of 22.5% to 23% to 21.0% to 21.5%. The Company stated that these cuts “reflect an anticipated decline of current trends for the remainder of 2025.” On this news, the price of Portillo’s shares declined by $0.37 per share, or approximately 5.7%, from $6.52 per share on September 9, 2025 to close at $6.15 on September 10, 2025.

On May 6, 2026, Portillo’s announced its first quarter 2026 financial results, revealing that operating income decreased by $5.9 million, from $10.4 million to $4.5 million; same-restaurant sales decreased by 0.1%; there was a net loss of $0.5 million; restaurant-level Adjusted EBITDA decreased by $1.8 million; and Adjusted EBITDA decreased by $2.8 million. On this news, the price of Portillo’s shares declined by $1.23 per share, or approximately 21.5%, from $5.72 per share on May 4, 2026 to close at $4.49 on May 6, 2026.

What Should I Do?

At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.

If you purchased or otherwise acquired Portillo’s securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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