Shake Shack Just Crushed Expectations During An After-Hours Earnings Call

Shake Shack Earnings

Shake Shack reported its third-quarter earnings results after the closing bell on Thursday, and the company knocked expectations out of the park.

The burger chain reported adjusted earnings per share of $0.12, versus expectations of $0.07 according to Bloomberg.

Same-store sales — at restaurants open for at least one year — were up 17.1%, against estimates of 10.6%.

That isn’t the only good news for the quickly growing burger franchise. Shake Shack raised its guidance for 2015 revenues to a range of $189 million to $190 million. That’s up from $180.1 million.

The company also expected same-store sales to grow between 11% and 12% this year.

“The third quarter marked another strong quarter in terms of same-Shack sales growth, as we continued to execute on our strategic plan and drive engagement with our guests,” CEO Randy Garutti said in the earnings statement.

Shares in after-hours trading rose by 5%. Shares are up approximately 11% from the company’s IPO in February.

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Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.