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Shake Shack Inc. (SHAK - Free Report) just released its first quarter fiscal 2017 financial results, posting earnings of 10 cents per share and revenues of $76.7 million. Currently, SHAK is a #3 (Hold) on the Zacks Rank, and is down about 7% to $30.79 per share in trading shortly after its earnings report was released.
Shake Shack:
Beat earnings estimates. The company reported earnings of 10 cents per share, surpassing the Zacks Consensus Estimate of 8 cents per share. This number excludes a penny from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $76.7 million, topping our consensus estimate of $75.4 million and increasing 41.7% year-over-year.
Same-Shack sales decreased 2.5% during the quarter compared to 9.9% growth in the first quarter of 2016. The decline was due to a 3.4% decrease in guest traffic, which was offset by a combined increase in price and sales mix of 0.9%.
Looking ahead, Shake Shack expects revenues between $351 million and $355 million for fiscal 2017. Same-Shack sales growth is forecasted to be flat to prior year (vs. 2% to 3%), including roughly 1.5% to 2% of menu price increases taken at the end of December.
“Looking into the remainder of the year, we're increasing our development schedule and overall revenue expectations, despite the relatively small impact the comp base has on the overall Shack story. We remain committed to executing our strategy of growing in premier locations, investing in our teams and delivering a great guest experience. We are extremely pleased with the early results of the Shack App and this is a key component of our long-term strategy to meet our guests whenever and wherever they want their Shack,” said Randy Garutti, CEO.
Here’s a graph that looks at Shake Shack’s price, consensus, and EPS surprise:
Shake Shack, Inc. Price, Consensus and EPS Surprise
Shake Shack Inc. is engaged in owning and operating restaurants. The company offers burgers, hot dogs, frozen custard, crinkle cut fries, beer and wine. It operates primarily in New York, New Jersey, Washington, D.C., Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, Nevada, London, Istanbul and Dubai. Shake Shack Inc. is headquartered in New York.
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Image: Bigstock
Shake Shack Posts Q1 Earnings Beat, Comps Decline 2.5%
Shake Shack Inc. (SHAK - Free Report) just released its first quarter fiscal 2017 financial results, posting earnings of 10 cents per share and revenues of $76.7 million. Currently, SHAK is a #3 (Hold) on the Zacks Rank, and is down about 7% to $30.79 per share in trading shortly after its earnings report was released.
Shake Shack:
Beat earnings estimates. The company reported earnings of 10 cents per share, surpassing the Zacks Consensus Estimate of 8 cents per share. This number excludes a penny from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $76.7 million, topping our consensus estimate of $75.4 million and increasing 41.7% year-over-year.
Same-Shack sales decreased 2.5% during the quarter compared to 9.9% growth in the first quarter of 2016. The decline was due to a 3.4% decrease in guest traffic, which was offset by a combined increase in price and sales mix of 0.9%.
Looking ahead, Shake Shack expects revenues between $351 million and $355 million for fiscal 2017. Same-Shack sales growth is forecasted to be flat to prior year (vs. 2% to 3%), including roughly 1.5% to 2% of menu price increases taken at the end of December.
“Looking into the remainder of the year, we're increasing our development schedule and overall revenue expectations, despite the relatively small impact the comp base has on the overall Shack story. We remain committed to executing our strategy of growing in premier locations, investing in our teams and delivering a great guest experience. We are extremely pleased with the early results of the Shack App and this is a key component of our long-term strategy to meet our guests whenever and wherever they want their Shack,” said Randy Garutti, CEO.
Here’s a graph that looks at Shake Shack’s price, consensus, and EPS surprise:
Shake Shack, Inc. Price, Consensus and EPS Surprise
Shake Shack, Inc. Price, Consensus and EPS Surprise | Shake Shack, Inc. Quote
Shake Shack Inc. is engaged in owning and operating restaurants. The company offers burgers, hot dogs, frozen custard, crinkle cut fries, beer and wine. It operates primarily in New York, New Jersey, Washington, D.C., Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, Nevada, London, Istanbul and Dubai. Shake Shack Inc. is headquartered in New York.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider: Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon, electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Stock for Free >>