Potbelly Corporation Reports Preliminary Results for Fourth Fiscal Quarter of 2024
Potbelly (NASDAQ: PBPB) announced preliminary results for the fourth fiscal quarter ending December 29, 2024. The company reported positive same store sales growth of 0.2% to 0.3%, surpassing previous guidance of -2.5% to -0.5%. Potbelly opened eight new shops during the quarter, falling slightly short of the 9-11 shops projected.
Adjusted EBITDA is estimated at $8.0M to $8.4M, exceeding the guidance range of $7.0M to $8.0M. CEO Bob Wright attributed the better-than-expected results to product innovation, digital marketing, and operational excellence. The company also expanded restaurant margins and improved corporate profitability, expecting a 10% adjusted EBITDA growth for the full year.
Potbelly added 30 new franchise shop commitments, bringing the total to 727 open and committed shops as of December 29, 2024. For 2025, the company has 38 new shop sites in various stages of development. Potbelly will be participating in the 27th Annual ICR Conference in Orlando, FL, on January 13-14, 2025, with a webcast available on their website.
Potbelly (NASDAQ: PBPB) ha annunciato i risultati preliminari per il quarto trimestre fiscale che si conclude il 29 dicembre 2024. L'azienda ha riportato una crescita positiva delle vendite comparabili dello 0,2% allo 0,3%, superando le previsioni precedenti di -2,5% a -0,5%. Potbelly ha aperto otto nuovi negozi durante il trimestre, risultando leggermente al di sotto della proiezione di 9-11 negozi.
L'EBITDA rettificato è stimato tra $8.0M e $8.4M, superando il range di previsione di $7.0M a $8.0M. Il CEO Bob Wright ha attribuito i risultati migliori del previsto all'innovazione dei prodotti, al marketing digitale e all'eccellenza operativa. L'azienda ha anche ampliato i margini dei ristoranti e migliorato la redditività aziendale, prevedendo una crescita dell'EBITDA rettificato del 10% per l'intero anno.
Potbelly ha aggiunto 30 nuovi impegni di franchise, portando il totale a 727 negozi aperti e impegnati al 29 dicembre 2024. Per il 2025, l'azienda ha 38 nuovi siti di negozi in vari stadi di sviluppo. Potbelly parteciperà alla 27ª Conferenza Annuale ICR a Orlando, FL, dal 13 al 14 gennaio 2025, con una trasmissione web disponibile sul loro sito web.
Potbelly (NASDAQ: PBPB) anunció resultados preliminares para el cuarto trimestre fiscal que finaliza el 29 de diciembre de 2024. La compañía reportó un crecimiento positivo de ventas en tiendas comparables de 0.2% a 0.3%, superando la guía previa de -2.5% a -0.5%. Potbelly abrió ocho nuevas tiendas durante el trimestre, quedando un poco por debajo de las proyecciones de 9 a 11 tiendas.
El EBITDA ajustado se estima entre $8.0M y $8.4M, superando el rango de guía de $7.0M a $8.0M. El CEO Bob Wright atribuyó los mejores resultados de lo esperado a la innovación de productos, al marketing digital y a la excelencia operativa. La compañía también amplió los márgenes de los restaurantes y mejoró la rentabilidad corporativa, esperando un crecimiento del EBITDA ajustado del 10% para todo el año.
Potbelly añadió 30 nuevos compromisos de franquicia, llevando el total a 727 tiendas abiertas y comprometidas al 29 de diciembre de 2024. Para 2025, la compañía tiene 38 nuevos sitios de tienda en varias etapas de desarrollo. Potbelly participará en la 27ª Conferencia Anual ICR en Orlando, FL, el 13 y 14 de enero de 2025, con una transmisión web disponible en su sitio web.
Potbelly (NASDAQ: PBPB)는 2024년 12월 29일 종료되는 회계 연도 4분기 예비 결과를 발표했습니다. 회사는 동일 매장 매출 성장률이 0.2%에서 0.3%로 긍정적이었다고 보고했으며, 이전 예측(-2.5%에서 -0.5%까지)을 초과하였습니다. Potbelly는 이번 분기 동안 8개의 새로운 매장을 열어, 9~11개의 매장을 계획한 것에는 약간 미치지 못했습니다.
조정된 EBITDA는 $8.0M에서 $8.4M으로 예상되며, $7.0M에서 $8.0M의 예측 범위를 초과하였습니다. CEO Bob Wright는 예상보다 좋은 결과를 제품 혁신, 디지털 마케팅 및 운영 우수성에 기인한다고 설명했습니다. 회사는 또한 레스토랑 마진을 확대하고 기업 수익성을 향상시켰으며, 연간 10%의 조정 EBITDA 성장률을 기대하고 있습니다.
Potbelly는 30개의 새로운 프랜차이즈 매장 약속을 추가하여, 2024년 12월 29일 기준으로 총 727개의 개점 및 약속된 매장을 보유하게 되었습니다. 2025년에는 다양한 개발 단계에 있는 38개의 새로운 매장 부지가 있습니다. Potbelly는 2025년 1월 13일과 14일에 플로리다주 올랜도에서 열리는 제27회 ICR 연례 회의에 참석할 예정이며, 웹캐스트는 자사 웹사이트에서 제공됩니다.
Potbelly (NASDAQ: PBPB) a annoncé des résultats préliminaires pour le quatrième trimestre fiscal se terminant le 29 décembre 2024. L'entreprise a rapporté une croissance positive des ventes dans les mêmes magasins de 0,2 % à 0,3 %, dépassant les prévisions antérieures de -2,5 % à -0,5 %. Potbelly a ouvert huit nouveaux magasins pendant le trimestre, légèrement en dessous des prévisions de 9 à 11 magasins.
L'EBITDA ajusté est estimé entre $8,0M et $8,4M, dépassant la plage de prévisions de $7,0M à $8,0M. Le PDG Bob Wright a attribué ces meilleurs résultats que prévu à l'innovation produit, au marketing numérique et à l'excellence opérationnelle. L'entreprise a également élargi les marges des restaurants et amélioré la rentabilité de l'entreprise, s'attendant à une croissance de l'EBITDA ajusté de 10 % pour l'année entière.
Potbelly a ajouté 30 nouveaux engagements de franchise, portant le total à 727 magasins ouverts et engagés au 29 décembre 2024. Pour 2025, l'entreprise a 38 nouveaux sites de magasins à différents stades de développement. Potbelly participera à la 27e Conférence Annuelle ICR à Orlando, FL, les 13 et 14 janvier 2025, avec un webinaire disponible sur son site web.
Potbelly (NASDAQ: PBPB) gab vorläufige Ergebnisse für das vierte Geschäftsjahr bekannt, das am 29. Dezember 2024 endet. Das Unternehmen berichtete über ein positives Wachstum der Umsatzentwicklung in vergleichbaren Geschäften von 0,2% bis 0,3%, und übertraf damit die vorherige Prognose von -2,5% bis -0,5%. Potbelly eröffnete acht neue Geschäfte im Quartal, was leicht unter der Prognose von 9 bis 11 Geschäften lag.
Das bereinigte EBITDA wird auf $8,0M bis $8,4M geschätzt und übertrifft den Prognosebereich von $7,0M bis $8,0M. CEO Bob Wright führt die besseren als erwarteten Ergebnisse auf Produktinnovationen, digitales Marketing und operative Exzellenz zurück. Das Unternehmen hat auch die Restaurantmargen erhöht und die Unternehmensrentabilität verbessert, mit der Erwartung eines 10%igen Wachstums des bereinigten EBITDA für das gesamte Jahr.
Potbelly fügte 30 neue Franchiseverträge hinzu, was die Gesamtzahl der offenen und zugesagten Geschäfte auf 727 zum 29. Dezember 2024 erhöht. Für 2025 hat das Unternehmen 38 neue Standortprojekte in verschiedenen Entwicklungsstadien. Potbelly wird an der 27. jährlichen ICR-Konferenz in Orlando, FL, vom 13. bis 14. Januar 2025 teilnehmen, mit einem Webcast, der auf ihrer Website verfügbar sein wird.
- Positive same store sales growth of 0.2% to 0.3% for Q4 2024.
- Adjusted EBITDA estimated at $8.0M to $8.4M, exceeding guidance.
- Expectation of 10% adjusted EBITDA growth for the full year.
- Opened eight new shops and added 30 new franchise shop commitments.
- 38 new shop sites in development for 2025.
- New unit growth of eight shops, below the guidance range of 9-11 shops.
Insights
The preliminary Q4 2024 results reveal notable operational improvements for Potbelly. The company achieved
The franchise expansion strategy shows momentum with 38 new shops in development for 2025. The addition of 30 new franchise commitments brings total committed locations to 727, representing significant growth potential. The
While the company opened 8 shops in Q4 (slightly below the guided 9-11), the robust development pipeline suggests accelerating unit economics and franchisor appeal. The focus on digital marketing and product innovation appears to be yielding positive results in driving customer traffic and maintaining margins despite inflationary pressures.
The quick-service restaurant sector's competitive dynamics make Potbelly's positive comp growth particularly meaningful. The successful execution of their digital strategy and menu innovation indicates effective market positioning. The expansion of franchise commitments suggests strong operator confidence in the brand's unit economics and market potential.
The company's ability to maintain growth while expanding margins demonstrates successful pricing power and operational optimization. The development pipeline of 38 new locations for 2025 represents approximately
Company to host a fireside chat and investor meetings at the 27th Annual ICR Conference
Company expects to deliver positive fourth quarter same store sales growth
38 new shop sites in various stages of development for opening in 2025
CHICAGO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), (“Potbelly” or the “Company”) the iconic neighborhood sandwich shop concept, today reported preliminary estimated results for the fourth fiscal quarter ended December 29, 2024.
| Fourth Quarter 2024 | Guidance (as of 11/7/24) | Preliminary Results |
Same Store Sales % Growth | - | + |
New Unit Growth | 9-11 shops | 8 shops |
Adjusted EBITDA |
Bob Wright, President and Chief Executive Officer of Potbelly Corporation, commented, “Our preliminary fourth quarter results exceeded our expectations as our product innovation, digital marketing and operations excellence helped deliver positive comp growth. We are equally proud to have managed costs effectively, expanding restaurant margins and driving growth in corporate profitability during the fourth quarter which we expect will result in approximately
ICR Conference Participation
Potbelly will participate in a fireside chat and host investor meetings at the 27th Annual ICR Conference in Orlando, FL on January 13-14, 2025. Potbelly’s fireside discussion will begin on Tuesday, January 14, 2025, at 8:30 AM Eastern time and will be webcast live from the Investor Relations section of the Company’s website at www.potbelly.com, under “Events and Presentations”.
About Potbelly
Potbelly Corporation is a neighborhood sandwich concept that has been feeding customers’ smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized just the way customers want them, for more than 40 years. Potbelly promises Fresh, Fast & Friendly service in an environment that reflects the local neighborhood. Since opening its first shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country - with more than 440 shops in the United States including more than 90 franchised shops in the United States. For more information, please visit our website at www.potbelly.com.
Definitions
The following definitions apply to these terms as used throughout this press release:
- Revenues – represents net company-operated sandwich shop sales and our franchise royalties and fees. Net company-operated shop sales consist of food and beverage sales, net of promotional allowances and employee meals. Franchise royalties and fees consist of royalty income, franchise fee, and other fees collected from franchisees including advertising and rent.
- Company-operated comparable store sales or same-store traffic – an operating measure that represents the change in year-over-year sales or transactions for the comparable company-operated store base open for 15 months or longer.
- Adjusted EBITDA – a non-GAAP measure that represents income before depreciation and amortization expense, interest expense and the provision for income taxes, adjusted to eliminate the impact of other items, including certain non-cash and other items that we do not consider reflective of underlying business performance.
The Company believes that a quantitative reconciliation of the Company’s adjusted EBITDA non-GAAP financial measure guidance or preliminary results to the most comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts. A reconciliation of this non-GAAP financial measure would require the Company to provide guidance for various reconciling items that cannot reasonably be predicted due to the fact that the timing and amount of such items are dependent on the timing and outcome of certain actions. For the same reasons, we are unable to address the probable significance of the unavailable information.
Forward-Looking Statements and Disclaimers
The preliminary estimated financial results for the full year ended December 29, 2024, included in this presentation are preliminary, unaudited and subject to completion, and may change as a result of management's continued review. Such preliminary results are subject to the finalization of year-end financial and accounting procedures. The preliminary financial results represent management estimates that constitute forward-looking statements subject to risks and uncertainties. As a result, the preliminary financial results may materially differ from the actual results when they are completed and publicly disclosed.
This press release may contain statements that might be considered as forward-looking statements or predictions of future operations including with respect to the Company’s expectations regarding (i) new shop sites in 2025, (ii) unit growth and strengthening the Potbelly brand in 2025, and (iii) preliminary fourth quarter results and full year adjusted EBITDA growth. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties including the Company’s ability to successfully execute its growth plans and the Company’s ability to achieve its planned expansion. Actual events may also differ from these expectations as a result of the risks identified from time to time in our filings with the Securities and Exchange Commission. We assume no duty to update these statements as of any future date.
Investor Contact:
Jeff Priester
ICR
investor@potbelly.com
Media Contact:
ICR
PotbellyPR@icrinc.com
FAQ
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