Potbelly(PBPB) GlobeNewswire·2025-03-06 21:05Core Insights - Potbelly Corporation reported significant growth in Q4 2024, with GAAP EPS of 0.13, a remarkable 550% increase year-over-year [1] - The company achieved a net income increase of 69% year-over-year and an adjusted EBITDA growth of 30% year-over-year [1] - Potbelly opened eight new shops in Q4 and secured 29 additional franchise commitments, contributing to a total of 727 open and committed shops, representing an 18.8% increase from the previous year [1][9] Financial Performance - Q4 total revenues decreased by 116.6 million compared to 28.8 million or 5.9% to 491.4 million [6] - Company-operated same-store sales in Q4 increased by 0.3%, a decline from the 6.3% increase in the prior year [6] Profitability Metrics - Adjusted net income for Q4 was 0.7 million in the previous year, while adjusted diluted EPS was 0.02 [6] - Adjusted EBITDA for Q4 increased by 30% to 7.5 million [6] - For the full year, adjusted net income was 4.4 million, with adjusted diluted EPS rising to 0.15 [6] Growth Strategy - The company plans to continue driving comparable sales growth through menu innovation and investments in digital assets, with a target of opening at least 38 new shops in 2025 [5][7] - Potbelly aims to enhance its customer loyalty program and modernize its shop footprint to support long-term growth objectives [5] Share Repurchase Program - In Q4, Potbelly repurchased approximately 48,000 shares for about 18.6 million remaining under its share repurchase program authorized in May 2024 [10]