Potbelly (PBPB) Misses Q4 EPS by 7c, Offers Guidance

Potbelly (NASDAQ: PBPB) reported Q4 EPS of ($0.06), $0.07 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $101.8 million versus the consensus estimate of $99.94 million.

Company-operated comparable store sales nearly flat at (0.1%), a 290-basis point improvement over the sequential quarter.

2020 Outlook:

For the full fiscal year 2020, management currently expects:

• 0.5% to 2.0% increase in company-operated comparable store sales
• Adjusted EBITDA to be between $20.5 million and $25.5 million
• Cost of goods sold to be between 26.7% and 27.3%
• Labor as a percentage of sales to be between 31.0% and 32.0%
• Adjusted G&A expense to be between $44.0 million and $46.0 million
• 8-10 total shop closures, all of which are company-operated shops
• 12-13 total shop openings, including 4 company-operated shop openings, which were delayed in 2019

For earnings history and earnings-related data on Potbelly (PBPB) click here.

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