Shake Shack Inc (NYSE:SHAK) reported its latest quarterly results after hours Thursday, beaating revenue estimates.
The burger chain announced fourth-quarter net income at a loss of $14.4 million, or 55 cents per share, missing the year-ago total of $3.9 million, or 15 cents per share. On an adjusted basis, Shake Shack earned 10 cents per share, topping the Wall Street consensus estimate of six cents per share, according to Thomson Reuters.
Revenue was strong during the period as well as the restaurant operator raked in $96.1 million, a 31.2% surge compared to the year-ago quarter. Analysts were calling for sales of $92.9 million, according to Thomson Reuters.
Shake Shack also surpassed analysts’ same-store sales guidance as this figure rose about 0.8% during the period. Wall Street’s forecast called for same-store sales to be down 1%.
The company added that its company-operator stores raked in about $85,000 a week on average during the quarter, a 5.6% fall from the $90,000 a week it brought in during the year-ago quarter.
“We delivered another year of robust global growth, opening 26 new company-operated domestic Shacks and 19 net licensed Shacks, representing a nearly 40 percent increase on our base,” Randy Garutti, CEO of Shake Shack, said in a statement. “2017 marked a milestone year of digital innovation for Shake Shack, with the launch of the Shack app, self-serve kiosks at select locations and several integrated delivery pilots designed to further enhance the guest digital experience.”
SHAK shares fell 2.1% after the bell Thursday.
