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Shake Shack shares jumped Thursday morning on better fourth-quarter earnings than analysts had expected.
Sales across the fast casual burger chain came in roughly in line with estimates.
Shake Shack said it was raising its long-term goal to 1,500 company-owned restaurants compared to the roughly 330 it operates now.
Shares of Shake Shack (SHAK) surged Thursday morning after the company’s fourth-quarter earnings topped estimates.
Shake Shack’s revenue was $328.7 million, up about 15% year-over-year and roughly in line with what analysts had expected, according to estimates compiled by Visible Alpha. Adjusted earnings per share came in at $0.26, two cents better than estimates and up from $0.02 per share the same time a year ago.
The fast casual burger chain’s systemwide sales across company-owned and franchised locations was $500.7 million, about $1.5 million below estimates. Same store sales grew 4.3% compared to the year-ago quarter, in line with what analysts had projected.
The company said in its quarterly letter to shareholders that it has grown from just 31 company-owned restaurants when it debuted as a public company in 2015 to nearly 330 locations currently. Shake Shack said it is upping its goal of company-owned locations to 1,500, up from its previous goal of 450.
First quarter revenue is expected to be between $326.5 million to $330.9 million, just below the $333.08 million analyst consensus. Shake Shack forecast 2025 revenue from $1.45 billion to $1.48 billion and $45 million to $60 million in net income, each roughly in line with what analysts had expected.
Shares of the restaurant chain were up more than 9% Thursday morning, putting them up about 25% over the last 12 months.
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