<p>Shake Shack (NYSE: SHAK) revenues for the fast food chain’s fourth quarter 2019 have SHAK shares hitting after Monday night. This comes after adjusting earnings per share (EPS) of 6 cents. This is better than Wall Street‘s flat estimate. On the other hand, the company’s revenue of $ 151.44 million is lower than analysts’ estimates of $ 153.14 million.
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Now for a more in-depth look at the latest Shake Shack earnings report.
Adjusted earnings for the quarter are 100% better than 3 cents in the same period the year before. Revenue is 21.86% higher than $ 124.27 million from the fourth quarter of 2019. Operating profit of $ 488,000 is a decrease of 82.82% compared to the same period last year from $ 2.84 million. Shake Shack’s earnings report also includes a net loss of $ 2.07 million. This is a 277.74% wider net loss than – $ 548,000 reported during the same period last year.
Randy Garutti, CEO of Shake Shack, said this about SHAK share income:
“We look forward to expecting 2020 to be another year of strong unit growth, both nationally and internationally, with 40 to 42 new company-driven Shacks and 20 to 25 net new licensed Shacks. In addition to expansion, we believe that this year will be defined by our innovation pipeline with focused investments in our digital products. ”
The earnings report for Shake Shack contains its outlook for 2020. The company expects revenue for the period to range from $ 712 million to $ 720 million. By comparison, Wall Street is looking for revenue of $ 737.1 million during the year.
The SHAK share fell 12.74% after Monday’s opening hours.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/02/shake-shack-earnings-hammer-shak-stock/.
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