Potbelly Corp

NASDAQ:PBPBUnited States

May 8, 2024

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• -- Earnings Flash (PBPB) POTBELLY CORPORATION Posts Q1 Revenue $111.2M, vs. Street Est of $109.5M, from 4:22PM ET on Wednesday May 08, 2024 by MT Newswires

  4:22PM ET on Wednesday May 08, 2024 by MT Newswires
  Companies Mentioned: PBPB
  04:22 PM EDT, 05/08/2024 (MT Newswires) -- ...

• -- Earnings Flash (PBPB) POTBELLY CORPORATION Reports Q1 EPS $0.01, vs. Street Est of $-0.02, from 4:22PM ET on Wednesday May 08, 2024 by MT Newswires

  4:22PM ET on Wednesday May 08, 2024 by MT Newswires
  Companies Mentioned: PBPB
  04:22 PM EDT, 05/08/2024 (MT Newswires) -- ...

• Potbelly Corporation Reports Strong Results for First Fiscal Quarter 2024, from 4:06PM ET on Wednesday May 08, 2024 by GlobeNewswire

  4:06PM ET on Wednesday May 08, 2024 by GlobeNewswire
  Companies Mentioned: PBPB

• Potbelly Corporation Reports Strong Results for First Fiscal Quarter 2024, from 4:05PM ET on Wednesday May 08, 2024 by Dow Jones

  4:05PM ET on Wednesday May 08, 2024 by Dow Jones
  Companies Mentioned: PBPB
  Mar 31, 2024 Mar 26, 2023 --------------- ---------------- Net loss attributable to Potbelly Corporation, as reported $ (2,767) $ (1,327) Impairment, loss on disposal of property and equipment and shop closures(1) 741 1,045 Loss on extinguishment of debt(2) 2,376 239 Loss on Franchise Growth Acceleration Initiative activities(3) 133 949 --- --------- --------- Total adjustments before income tax 3,250 2,233 Income tax adjustments(4) (254) (322) --- --------- --------- Total adjustments after income tax 2,996 1,911 --- --------- --------- Adjusted net income attributable to Potbelly Corporation $ 229 $ 584 === ========= ========= Adjusted net income attributable to Potbelly Corporation per share, basic $ 0.01 $ 0.02 Adjusted net income attributable to Potbelly Corporation per share, diluted $ 0.01 $ 0.02 Shares used in computing adjusted net income attributable to Potbelly Corporation per share: Basic 29,551 28,907 Diluted 30,812 29,662 For the Quarter Ended Mar 31, 2024 Mar 26, 2023 --------------- ---------------- Net loss attributable to Potbelly Corporation, as reported $ (2,767) $ (1,327) Depreciation expense 3,011 2,971 Interest expense, net 364 667 Income tax expense 51 105 --- --------- --------- EBITDA $ 659 $ 2,416 Impairment, loss on disposal of property and equipment and shop closures(1) 741 1,045 Stock-based compensation 1,771 911 Loss on extinguishment of debt(2) 2,376 239 Loss on Franchise Growth Acceleration Initiative activities(3) 133 949 --- --------- --------- Adjusted EBITDA $ 5,680 $ 5,560 === ========= ========= Potbelly Corporation Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures -- Unaudited (amounts in thousands, except per share data) For the Quarter Ended ---------------------------------- Mar 31, 2024 Mar 26, 2023 ---------------- ---------------- Income (loss) from operations [A] $ 118 $ (193) Income (loss) from operations margin [A÷B] 0.1% (0.2)% Less: Franchise royalties, fees and rent income 3,576 1,323 Franchise support, rent and marketing expenses 2,537 591 General and administrative expenses 11,547 9,969 Pre-opening costs -- 22 Loss on Franchise Growth Acceleration Initiative activities(2) 133 949 Depreciation expense 3,011 2,971 Impairment, loss on disposal of property and equipment and shop closures(1) 741 1,045 -------- -------- Shop-level profit [C] $ 14,511 $ 14,031 -------- -------- Total revenues [B] $ 111,153 $ 118,270 Less: Franchise royalties, fees and rent income 3,576 1,323 -------- -------- Sandwich shop sales, net [D] $ 107,577 $ 116,947 -------- -------- Shop-level profit margin [C÷D] 13.5% 12.0% ======== ======== Potbelly Corporation Selected Operating Data -- Unaudited (amounts in thousands, except shop counts) For the Quarter Ended --------------------------------- Mar 31, 2024 Mar 26, 2023 ----------------- -------------- Selected Operating Data Shop Activity: Company-operated shops, end of period 345 373 Franchise shops, end of period 82 53 Revenue Data: Company-operated comparable store sales (0.2%) 22.2% For the Quarter Ended ------------------------------- Mar 31, 2024 Mar 26, 2023 --------------- -------------- Sales from company-operated shops, net $ 107,577 $ 116,947 Sales from franchise shops, net 26,611 14,732 --- ---------- ---------- System-wide sales $ 134,188 $ 131,679 === ========== ==========
  

• *DJ Potbelly 1Q Loss/Shr 9c >PBPB, from 4:05PM ET on Wednesday May 08, 2024 by Dow Jones

  4:05PM ET on Wednesday May 08, 2024 by Dow Jones
  Companies Mentioned: PBPB