Shake Shack crushes earnings and now the stock is exploding
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 ...