CEO DeparturePortillo’s announced the imminent departure of CEO Michael Osanloo after 8 years of leadership.
Financial PerformancePortillo’s revised its F25E guidance down across unit growth, provided some offsets in the form of lower G&A and preopening expenses, resulting in an 8% reduction in adjusted EBITDA.
Geographic ChallengesKey risks include geographic portability outside the Midwest, Portillo’s high concentration of locations in Illinois, and likely restaurant-level margin contraction on more normalized average unit volumes as the company expands throughout the United States.