NASDAQ$PBPB
Potbelly Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported strong fourth quarter and full year results driven by traffic growth and strategic initiatives.
Potbelly Corporation reported a 4.7% increase in total revenues for the fourth quarter, reaching $125.7 million, driven by a 6.3% increase in same-store sales and a 3.4% increase in Average Weekly Sales (AWS) to $24,960. GAAP net income attributable to Potbelly Corporation was $2.7 million, with diluted EPS of $0.09.
- Total revenues increased by 4.7% to $125.7 million.
- Same-store sales increased by 6.3%, driven by traffic growth.
- GAAP net income attributable to Potbelly Corporation was $2.7 million, with diluted EPS of $0.09.
- Adjusted EBITDA was $7.5 million.
Headline financials
Revenue & EPS history
Potbelly · Revenue · Quarterly
$126M
Revenue by segment
Potbelly · $120M total across 2 segments · Q4 2022
- Sandwich shop sales, net$119M—99.1%
- Franchise royalties, fees and rent income$1.12M—0.9%
Forward guidance
Potbelly provided its first quarter and full year 2024 outlook, introducing new long-term growth ranges.
Tailwinds
- Same Store Sales growth of (-0.25%) to +0.5% for Q1 2024 and Low- to Mid-Single Digit for FY2024
- New Unit Growth ~10% for FY2024 and Low-Double Digit long-term
- Adjusted EBITDA of $4.4M to $5.2M for Q1 2024 and High-Single to Low-Double Digit for FY2024
- Long-Term Growth Ranges: Low- to Mid-Single Digit for Same Store Sales
- Long-Term Growth Ranges: Low- to Mid-Double Digit for Adjusted EBITDA
Headwinds
- Impact of refranchising 33 former company locations in 2023
- 53rd week in 2023 will not recur in 2024
- Increased costs associated with the Company’s investment in development efforts to support sustained franchise growth
- A $1.1 million settlement gain in the first quarter 2024 with a third-party software provider
- Effect of 2023 refranchising is most pronounced in the first three quarters of 2024
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports · overlaid with Q4 2023
+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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