Potbelly (PBPB) To Report Earnings Tomorrow: Here Is What To Expect
Casual sandwich chain Potbelly (NASDAQ:PBPB) will be reporting earnings tomorrow after market hours. Here's what to expect.
Last quarter Potbelly reported revenues of $126.6 million, up 9.2% year on year, missing analyst expectations by 0.38%. It was a weak quarter for the company, with revenue and EPS missing analysts' expectations.
Is Potbelly buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Potbelly's revenue to grow 3.35% year on year to $121.6 million, slowing down from the 15.7% year-over-year increase in revenue the company had recorded in the same quarter last year.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing 1 upwards revisions over the last thirty days. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Potbelly's peers in the restaurants segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Chipotle delivered top-line growth of 11.3% year on year, missing analyst estimates by 0.06% and BJ's reported revenues up 2.34% year on year, missing analyst estimates by 2.22%. Chipotle traded up 5.2% on the results, BJ's was down 4.1%.
Read our full analysis of Chipotle's results here and BJ's's results here.
The technology sell-off has been putting pressure on stocks, and while some of the restaurants stocks have fared somewhat better, they have not been spared, with share price declining 2.69% over the last month. Potbelly is up 16.4% during the same time, and is heading into the earnings with analyst price target of $13, compared to share price of $8.79.
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The author has no position in any of the stocks mentioned.
