Shake Shack Stock Jumps as Q4 Earnings Top Estimates | Global News Avenue

Shares Shaking shed ((shake) The company’s fourth-quarter earnings exceeded estimates Thursday morning.

According to estimates compiled by Civible Alpha, Shake Shack’s revenue was $328.7 million, up about 15% year-on-year, roughly in line with analyst expectations. Adjusted EPS was $0.26, two cents higher than the estimate and rose from $0.02 per share at the same time a year ago.

The fast casual burger chain has system-wide sales of $500.7 million in company-owned and franchise locations, down from an estimated value of about $1.5 million. Sales at the same store increased by 4.3% compared to the same period last year, in line with analysts’ expectations.

Shake Shack Ups long-term goal to reach 1,500 company-owned restaurants

In a quarterly letter to shareholders, the company said it had just grown from 31 restaurants to nearly 330 locations in its debut as a public company in 2015. Shake Shack said it is increasing its target for company-owned locations to 1,500, its previous 450 goals.

First-quarter revenue is expected to be between $326.5 million and $330.9 million, down from the analyst consensus of $333.08 million. Shake Shack predicts revenue in 2025 from $1.45 billion to $1.48 billion, and net income of $45 million to $60 million, each roughly meeting analysts’ expectations.

Shares of restaurant chains rose more than 9% Thursday morning, with their share price of about 25% over the past 12 months.