SHAKE SHACK SHARES FALL MORE THAN 13% AS SAME-STORE SALES GROWTH DISAPPOINTS

  • Shake Shack reported third-quarter earnings after the bell on Monday that beat analysts’ expectations.
  • Shares of Shake Shack were down more than 13% in extended trading after same-store sales came in below expectations.
  • Revenue came in at $157.8 million in-line with expecations.

Shake Shack shares fell more than 14% in extended trading Monday after the company reported third-quarter earnings that beat analysts’ expectations, but turned in disappointing same-store sales growth.

Revenue was in-line with expectations, but same-store sales rose 2.0%, shy of the 2.5% growth analysts predicted.

Here’s what the company reported compared to what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: 26 cents, adjusted, vs. 20 cents expected
Revenue: $157.8 million, vs. $157.8 million expected
Shake Shack said its net income rose to $11.4 million, or 31 cents a share, from $6.9 million, or 17 cents a share, a year ago.

Excluding items, Shake Shack earned 26 cents a share, topping estimates of 20 cents per share.

Revenue climbed 32% to $157.8 million from the year-earlier period, in-line with analysts’ predictions.

Shake Shack revised its financial outlook for the 2019 fiscal year. The company said total revenue, which includes licensing revenue, is now expected to come in between $592 million to $597 million, compared to the previous outlook of $585 million to $590 million…

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