Q1 2025 Potbelly Corp Earnings Call Transcript

May 7, 2025 / 09:00 PM GMT

Release Date Price: $8.56 (+1.42%)

Transcript 10-Q8-K

Key Points

Positve

Potbelly Corp (PBPB) reported system-wide sales growth of 4.8% year over year, reaching $140.7 million.
The company achieved a positive same-store sales growth of 0.9% for the quarter, exceeding expectations.
Franchise revenue increased by 30.8% year over year, driven by a 26% increase in franchise units.
Digital sales represented over 42% of total shop sales, marking a 200 basis point increase from the previous year.
Potbelly Corp (PBPB) opened four new restaurants in the first quarter and has a clear line of sight to open at least 38 new shops in 2025.

Negative

Adjusted EBITDA decreased by 2.8% year over year due to a prior year benefit from a settlement payment.
Labor expenses increased by 40 basis points compared to the prior year period.
Occupancy costs rose by 10 basis points due to increased variable rent charges.
The company reported a slight net loss of $62,000 for the quarter, despite improvements over the prior year.
There is potential pressure on food costs due to tariffs, although the company is monitoring the situation closely.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PBPB.OQ - Potbelly Corp
Q1 2025 Potbelly Corp Earnings Call
May 07, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon everyone and welcome to Potbelly Corporation's first quarter 2025 earnings conference call.

Today's call is being recorded.

At this time, all participants have been placed in a listen-only mode, and the lines will be opened for your questions following the prepared remarks. On today's call, we have Bob Wright, President and Chief Executive Officer, Stephen Siris, senior Vice President and Chief Financial Officer. Anna Dea Dixon, senior Vice President, Chief Legal Officer, and secretary of Potbelly Corporation.

At this time I'll turn the call over to Adea Dixon. Please go ahead.

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Unidentified_2 [2]
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