Shake Shack reported second quarter revenue of $417.6 million, an increase of 17.2% year-over-year, beating analyst estimates. The company posted earnings per diluted share of $0.37, also ahead of expectations. Growth was supported by a 3.5% increase in same-shack sales, which included a 2.0% rise in traffic.
Key Highlights
- Total revenue grew 17.2% to $417.6 million, surpassing the consensus estimate of $416.9 million.
- Same-Shack sales increased by 3.5%, beating the 2.75% estimate, marking the fourth consecutive quarter of positive traffic.
- Restaurant-level profit margin was 23.0%, a decline of 90 basis points from the prior year, primarily due to record-high beef costs.
- The company opened 16 new company-operated locations and 11 licensed locations during the quarter.