Shake Shack crushes earnings and now the stock is exploding
Abdullah AlBargan/Flickr
Adjusted earnings per share came in at $0.09 per share while revenue totaled $48.5 million, both better than expected.
Same-store sales rose 12.9% in the second quarter, better than expected.
In after hours trade following the results, shares of the company were up as much as 10%.
Via Bloomberg, here's what Wall Street is looking for:
- Adjusted earnings per share: $0.03
- Revenue: $42.8 million
- Same-store-sales: +9%
Over the last 3 months, Shake Shack shares have been virtually unchanged after the stock had a wild ride shortly after its January market debut.
In the second quarter, Shake Shack said average weekly sales at US locations were $102,000, up 7% from the prior year.
For the full-year, Shake Shack raised its revenue outlook to $171-$174 million from $161-$165 million.
The company also increased its same-store sales outlook, now expecting full-year same-store sales to increase by mid- to high-single digits from low- to mid-single digits previously.
Shake Shack also expects it will open 12 company-operated locations in 2015. The company had previously forecast that it would open 10 such locations this year. Shake Shack also said the company expects to open 12 locations per year in 2016 and beyond.
More to come ...
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- PM Modi and Bill Gates discuss AI, climate change, millets and more
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more