Shake Shack Q2: Sales Miss, EPS Beat & More
Portfolio Pulse from Shivani Kumaresan
Shake Shack Inc reported Q2 FY23 sales growth of 17.8% to $271.80 million, missing the analyst consensus of $274.40 million. System-wide sales grew 21.2%, and Same-Shack sales climbed 3%. The company held $295.2 million in cash and equivalents. It opened 23 new Shacks, including locations in Thailand and China. Adjusted pro forma EPS was $0.18 for the quarter, beating the consensus of $0.09. SHAK shares are trading lower by 3.51%.
August 04, 2023 | 1:29 pm
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Shake Shack's Q2 sales missed analyst expectations, but EPS beat estimates. The company opened 23 new locations.
Shake Shack's sales missed analyst expectations, which could negatively impact investor sentiment and the stock price. However, the company beat EPS estimates and opened new locations, which could offset some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100