Shake Shack’s shares jumped 9% on Thursday morning after the company reported better-than-expected fourth-quarter earnings. Revenue came in at $328.7 million, a 15% year-over-year increase that matched analyst estimates. Adjusted earnings per share rose to $0.26, beating projections by two cents.
The fast-casual burger chain’s systemwide sales were slightly lower than expected at $500.7 million, but same-store sales grew 4.3%. Shake Shack plans to expand its company-owned locations from 330 to 1,500 by 2025, up from a previous goal of 450.
Shares have gained 25% over the past year and are poised for an upbeat 2025, with forecasted revenue between $1.45 billion and $1.48 billion. The company’s long-term goal is now a major driving force behind its stock price surge.
Source: https://www.investopedia.com/shake-shack-stock-jumps-as-q4-earnings-top-estimates-11683245