NASDAQ$PBPB
Potbelly Corporation · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Potbelly's Q4 2020 financial performance was marked by sequential revenue growth and strategic advancements amidst pandemic challenges.
Potbelly Corporation reported a 3% sequential increase in total revenues to $74.9 million for the fourth quarter of 2020. The company's same-store sales improved by 130 basis points sequentially to (19.7%). Despite these improvements, Potbelly reported a GAAP net loss of ($16.4) million, or ($0.68) per share, and an adjusted net loss of ($13.7) million, or ($0.57) per share.
- Total revenues increased 3% sequentially to $74.9 million.
- Same-store sales trends finished the fourth quarter at (19.7%), a 130-basis point improvement from the third quarter.
- GAAP net loss attributable to Potbelly Corporation was ($16.4) million, or ($0.68) per share.
- Non-catering digital sales comprised 35.8% of total Company sales compared to 12.8% last year.
Headline financials
Revenue & EPS history
Potbelly · Revenue · Quarterly
$74.9M
Revenue by segment
Potbelly · $74.9M total across 2 segments · Q4 2020
- Sandwich shop sales, net$74.3M—99.3%
- Franchise royalties, fees and rent income$542K—0.7%
Forward guidance
Potbelly Corporation anticipates sequential improvement in top-line results throughout each quarter of fiscal 2021 and expects the majority of operating earnings and Adjusted EBITDA during the second half of 2021, supporting both shop-level and enterprise-level profitability, as well as positive cash flow.
Tailwinds
- Expect the recovery of our business and shops to track the rate of vaccinations and increased dining room re-openings as pandemic conditions recede.
- Expect that our strategic initiatives will build momentum throughout the year.
- Expect to see sequential improvement in our top-line results throughout each quarter of fiscal 2021.
- Anticipate that we will generate the majority of our operating earnings and Adjusted EBITDA during the second half of 2021.
- Strategic initiatives and economic recovery expected to support sequential quarterly improvement in performance and return to positive cash flow and enterprise profitability in second half of 2021
Headwinds
- Company remains focused on furthering a culture of vigilant cost discipline.
- Company remains focused on driving additional operational efficiencies.
- Company remains focused on advancing the five pillars of our new strategy to accelerate Potbelly’s future growth.
- COVID-19 related impacts, which significantly impacted the overall business.
- Weekly cash burn decreased from the targeted $0.50 million per week average to $0.44 million, driven by retimed lease repayments, but including restructuring costs and deferred salary repayment.
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% | — | — |
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