Potbelly Beats 3Q Profit Forecasts

EarningsAssociated Press

Potbelly Corp. (NASDAQ:PBPB) on Tuesday reported third-quarter profit of $1.9 million.

The Chicago-based company said it had net income of 6 cents per share. Earnings, adjusted for one-time gains and costs, were 9 cents per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The sandwich restaurant operator posted revenue of $84.7 million in the period.

Potbelly expects full-year earnings in the range of 18 cents to 21 cents per share.

Potbelly shares have fallen 45 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.25, a decline of 52 percent in the last 12 months.

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