Why Potbelly Shares Are Rising

Potbelly Corp PBPB shares are trading higher by 9.06% to $5.90 during Monday's session after the company reported preliminary fourth-quarter sales results above estimates. The company sees preliminary fourth-quarter revenue of $119 million to $120 million versus the prior guidance of $114 million to $119 million.

Potbelly says the expected financial results are preliminary and unaudited, have not been reviewed by the Company's independent registered public accountants, and remain subject to the completion of normal year-end accounting procedures and adjustments and are subject to change.

The company expects to release final financial and operating results for its fiscal fourth quarter and fiscal year ended December 25, 2022, during March 2023.

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Bob Wright, President and Chief Executive Officer of Potbelly, said, "I am extremely pleased by our strong preliminary fourth quarter and year-end results, which allowed us to conclude 2022 and enter 2023 with great momentum."

According to data from Benzinga Pro, Potbelly has a 52-week high of $7.14 and a 52-week low of $4.31.