Shake Shack Q1 2024 Adj EPS $0.13 Beats $0.10 Estimate, Sales $290.5M Miss $290.656M Estimate
Portfolio Pulse from Benzinga Newsdesk
Shake Shack reported Q1 2024 adjusted EPS of $0.13, surpassing the $0.10 estimate, but its sales of $290.5M slightly missed the $290.656M forecast. This represents a 14.70% increase in sales compared to the same period last year.
May 02, 2024 | 11:03 am
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POSITIVE IMPACT
Shake Shack's Q1 2024 earnings beat EPS estimates but missed sales forecasts slightly, showing a significant year-over-year sales growth.
The positive earnings surprise with an EPS beat of 30% is likely to be viewed favorably by investors, potentially leading to a short-term positive impact on SHAK's stock price. However, the slight miss on sales forecasts could temper some of the positive sentiment. The significant year-over-year sales growth indicates strong business momentum, which could further support the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100