NASDAQ$PBPB
Potbelly Corporation · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Potbelly reported improvements in business trends and reached profitability at the shop level.
Potbelly Corporation reported financial results for the third fiscal quarter ended September 27, 2020, showing improvements in same-store sales and reaching profitability at the shop level. The company is implementing a new strategic focus on "Traffic Driven Profitability" and announces a G&A restructuring expected to yield $3.5-$4.0 million in annual corporate expense optimization.
- Same-store sales trends continued to improve, ending the period at (21.0%), a 2,000-basis point improvement from the previous quarter.
- Reached profitability at the shop level during the quarter and continued through the end of October.
- Weekly cash burn remained in-line with the targeted $0.5 million per week average.
- Constructive lease discussions resulted in the closure of approximately 25-30 shops and the renegotiation of 280 leases as of early November.
Headline financials
Revenue & EPS history
Potbelly · Revenue · Quarterly
$72.7M
Revenue by segment
Potbelly · $72.7M total across 2 segments · Q3 2020
- Sandwich shop sales, net$72.2M—99.3%
- Franchise royalties, fees and rent income$474K—0.7%
Forward guidance
Potbelly is launching a corporate expense optimization and restructuring focused on driving efficiencies, rightsizing General & Administrative expenses, and better aligning cost structure to new footprint and strategic direction.
Tailwinds
- Corporate expense optimization and restructuring focused on driving efficiencies.
- Rightsizing General & Administrative expenses including staff reductions above the shop level to be completed by year end.
- Better aligning cost structure to new footprint and strategic direction.
- Expected reduction of annual G&A costs by $3.5 million to $4.0 million.
- Consolidation of franchise and company locations support services into one unit.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
+0.7%
Avg return
Earnings day
+4.9%
Avg return
5 days after
+0.9%
Avg return
30 days after
49%
27 / 55 earnings
Positive
+19.0%
Q4 2014
Best reaction
-24.7%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | — | — | — | |
| Q2 2025 | +13.1% | +11.7% | +10.0% | |
| Q1 2025 | +18.2% | +20.4% | +27.1% | |
| Q4 2024 | -18.2% | -17.6% | -25.3% | |
| Q3 2024 | +18.5% | +26.7% | +19.0% | |
| Q2 2024 | +8.4% | +15.7% | +13.7% | |
| Q1 2024 | -5.9% | -10.7% | -18.5% | |
| Q4 2023 | -3.9% | -11.5% | -19.7% | |
| Q3 2023 | +9.7% | — | — | |
| Q2 2023 | -4.7% | — | — | |
| Q1 2023 | -14.7% | — | — | |
| Q4 2022 | +9.4% | — | — | |
| Q3 2022 | +2.9% | — | — | |
| Q2 2022 | +2.7% | — | — | |
| Q1 2022 | -5.4% | — | — | |
| Q4 2021 | +6.9% | — | — | |
| Q3 2021 | -0.2% | — | — | |
| Q2 2021 | -0.8% | — | — | |
| Q1 2021 | +17.2% | — | — | |
| Q4 2020 | +3.6% | — | — | |
| Q3 2020 | +0.0% | — | — | |
| Q2 2020 | +18.7% | — | — | |
| Q1 2020 | -24.7% | — | — | |
| Q4 2019 | -3.3% | — | — | |
| Q3 2019 | +11.5% | — | — | |
| Q2 2019 | -9.5% | — | — | |
| Q1 2019 | -22.5% | — | — | |
| Q4 2018 | -0.5% | — | — | |
| Q3 2018 | -9.0% | — | — | |
| Q2 2018 | +1.2% | — | — | |
| Q1 2018 | +5.7% | — | — | |
| Q4 2017 | +8.4% | — | — | |
| Q3 2017 | +2.6% | — | — | |
| Q2 2017 | +0.5% | — | — | |
| Q1 2017 | -17.9% | — | — | |
| Q4 2016 | +4.2% | — | — | |
| Q3 2016 | -3.4% | — | — | |
| Q2 2016 | +2.6% | — | — | |
| Q1 2016 | -6.8% | — | — | |
| Q4 2015 | +15.9% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | -10.2% | — | — | |
| Q1 2015 | -2.1% | — | — | |
| Q4 2014 | +19.0% | — | — | |
| Q3 2014 | +9.1% | — | — | |
| Q2 2014 | +3.5% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q1 2014 | -2.2% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q2 2013 | -2.4% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q4 2013 | -9.5% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q3 2013 | +13.9% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro