December 02, 2016 1:56 PM ET

Hotels, Restaurants and Leisure

Company Overview of Potbelly Corporation

Company Overview

Potbelly Corporation, through its subsidiaries, owns and operates Potbelly Sandwich Works sandwich shops in the United States. It also sells and administers franchises of Potbelly Sandwich Works sandwich shops. As of December 27, 2015, the company operated 396 shops in 28 states and the District of Columbia; and 12 franchised shops, including 11 shops in the Middle East and 1 shop in the United Kingdom. The company was formerly known as Potbelly Sandwich Works, Inc. and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.

111 North Canal Street

Suite 850

Chicago, IL 60606

United States

Founded in 1977

7,000 Employees

Phone:

312-951-0600

Key Executives for Potbelly Corporation

Chairman, Chief Executive Officer and President
Age: 61
Total Annual Compensation: $725.0K
Chief Financial Officer and Senior Vice President
Age: 52
Total Annual Compensation: $244.2K
Senior Vice President of Operations
Age: 46
Total Annual Compensation: $299.7K
Senior Vice President of Operations Growth
Age: 60
Total Annual Compensation: $410.9K
Compensation as of Fiscal Year 2015.

Potbelly Corporation Key Developments

Potbelly Corporation - Special Call

Potbelly Corporation - Special Call

Potbelly Corporation - Shareholder/Analyst Call

Potbelly Corporation - Shareholder/Analyst Call

Potbelly Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 25, 2015; Provides Earnings Guidance for the Full Year 2016; Expects to Open 50 to 60 Net Shops in the Full Year 2016

Potbelly Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 25, 2015. For the quarter, the company’s total revenues increased 8.1% to $103.8 million from $96.0 million. GAAP net income attributable to the company increased 28.1% to $1.8 million from net income of $1.4 million. GAAP diluted EPS increased 40.0% to $0.07 from $0.05. Adjusted net income attributable to the company increased 37.8% to $3.0 million from adjusted net income of $2.2 million. Adjusted diluted EPS increased 50.0% to $0.12 from $0.08. EBITDA increased 7.8% to $8.4 million from $7.8 million. Adjusted EBITDA increased 11.1% to $12.0 million from $10.8 million. Income from operations was $2,842,000 compared to $2,379,000 a year ago. Income before income taxes was $2,809,000 compared to $2,323,000 a year ago. For the nine months, the company’s total revenues increased 9.7% to $304.8 million from $277.8 million. GAAP net income attributable to the company increased 42.4% to $6.3 million from net income of $4.4 million. GAAP diluted EPS increased 60.0% to $0.24 from $0.15. Adjusted net income attributable to the company increased 36.1% to $8.1 million from adjusted net income of $5.9 million. Adjusted diluted EPS increased 55.0% to $0.31 from $0.20. EBITDA increased 16.2% to $27.1 million from $23.3 million. Adjusted EBITDA increased 12.2% to $34.6 million from $30.8 million. Income from operations was $10,243,000 compared to $7,411,000 a year ago. Income before income taxes was $10,141,000 compared to $7,231,000 a year ago. For the full fiscal year of 2016, management currently expects company-operated comparable store sales growth of approximately 1% to 2%; an effective tax rate that is expected to range from 37% to 39%; adjusted net income of at least 20% growth; and full year adjusted diluted earnings per share to range from $0.36 to $0.38. For the full year, the company expected 50 to 60 total new shop openings, including 40 to 45 company-operated shop openings.

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Recent Private Companies Transactions

Type
Date
Target
Buyback
September 8, 2016
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