Shake Shack (NYSE:SHAK) posted its latest quarterly earnings results late in the day Thursday, which were better than what analysts were calling for, but its fiscal 2018 guidance left something to be desired.
The fast-casual burger giant said that for its second quarter of fiscal 2018, it amassed earnings of $7.6 million, or 26 cents per Class A shares. The figure was a 55.1% improvement compared to its net income of $4.9 million, or 19 cents per Class A share, from its second quarter of fiscal 2017.
On an adjusted basis, Shake Shack amassed earnings of 29 cents per share, which was stronger than the 18 cents per share that analysts polled by a FactSet survey projected. Revenue was also strong for the company at $116.3 million, marking a 27% increase compared to the year-ago quarter.
The Wall Street consensus estimate called for the company to bring in revenue of $111 million, according to data compiled by FactSet. Shake Shack’s same store-sales were 1.1% higher year-over-year for the period.
Despite the earnings beat, the gourmet burger restaurant’s fiscal 2018 guidance was weaker than analysts’ forecast. The company sees its same-store sales as being either flat or growing 1% year-over-year, below the average Wall Street outlook of 1.2%, according to FactSet.
SHAK stock was up about 2.8% on Thursday in anticipation of the company’s quarterly earnings report. While its results topped expectations, its weak same-store sales outlook for fiscal 2018 caused shares to sink about 5.2% after hours.
