Potbelly (PBPB) Reports In-Line Q1 EPS, Offers Guidance

Potbelly (NASDAQ: PBPB) reported Q1 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenue for the quarter came in at $73.9 million versus the consensus estimate of $73.66 million.

2014 Outlook

For the full fiscal year of 2014, management currently expects annual adjusted net income growth to range between 25% and 35%. This guidance is based, in part, on the following assumptions for fiscal year 2014:

40 – 48 total new shop openings, including 35 – 40 company-operated shop openings and 5 – 8 franchise openings;
Low single-digit company-operated comparable store sales growth;
An effective tax rate that is not expected to exceed approximately 39.5%; and
Comparable adjustments to net income as discussed in the "Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures."

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

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