Shake Shack (NYSE:SHAK) posted its latest quarterly earnings results late today, bringing in earnings that were in line with what analysts called for, while its revenue was stronger than projected, helping to lift SHAK stock more than 7% after hours.
The New York-based burger chain said that for its first quarter of its fiscal 2019, it brought in same-store sales that increased roughly 3.6% when compared to the same period in its fiscal 2018. The figure was well ahead of the Wall Street consensus estimate that saw the brand’s same-store sales surging 0.8% year-over-year.
Shake Shack added that its adjusted earnings for the three-month period came in at 13 cents per share, which was in line with what analysts called for. Revenue was also ahead of the mark at $128.6 million, topping the $127.22 million that analysts called for.
The burger chain also upped its guidance for the rest of its fiscal 2019 as it now sees its full-year revenue in the range of $576 million to $582 million, beating its previous guidance of $570 million to $576 million. Shake Shack added that it sees its 2019 same-store sales growth at around 1% to 2%, ahead of the previous outlook, which saw same-store sales growth that were flat to a 1% growth.
SHAK stock is up about 7.2% after the bell Thursday off the heels of a strong quarterly earnings performance for the brand. Shares had been gaining 3.1% during regular trading hours as the company geared up to report its results for its first quarter.
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