Potbelly Net Income Up 150% in Q3 as Perks Drive Engagement

Exec Edge
2024-11-08

By Karen Roman

Potbelly Corp. (Nasdaq: PBPB) said net income increased 150% in the third quarter and adjusted EBITDA rose 19%, surpassing analysts’ expectations.

Adjusted earnings per share was $0.08, up 100% compared to the year prior, while total revenue was $115.1 million, down 4.7%, it stated.

Potbelly said it opened eight shops during the third quarter and expects to inaugurate 9-11 shops in the last quarter.

“During the third quarter, our team once again demonstrated the effectiveness of our five-pillar strategic plan amidst a dynamic consumer environment,” said Bob Wright, Potbelly’s President and CEO. “Our app and Potbelly Perks program drove a positive shift in our comp trajectory and engagement with our brand.”

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