Shake Shack (SHAK) Tops Q2 EPS by 1c; Comps Light of Expectations
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(Updated - August 10, 2016 4:09 PM EDT)
Shake Shack (NYSE: SHAK) reported Q2 EPS of $0.14, $0.01 better than the analyst estimate of $0.13. Revenue for the quarter came in at $66.5 million versus the consensus estimate of $63.11 million.
Comps rose 4.5 percent, versus a gain of 5.4 percent expected.
Updated 2016 Outlook
For the fiscal year ending December 28, 2016, the Company is revising its financial outlook to the following:
- Total revenue between $253 million and $256 million (vs. $245 million to $249 million). (The Street sees revenue of $252 million.)
- Same-Shack sales growth between 4% and 5%.
- 18 (vs. 16) total new domestic company-operated Shacks to be opened in 2016.
- Seven licensed Shacks, net of a relocation (an increase of one Shack from the previous guidance).
- Approximately 50 basis points (vs. 75 to 100 basis points) of deleverage in labor and related expenses as a percentage of Shack sales, on a year-over-year basis.
- Adjusted pro forma effective tax rate between 40% and 41%.
For earnings history and earnings-related data on Shake Shack (SHAK) click here.
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