Has Shake Shack’s Stock Price Bottomed Out?
In the second quarter, which ended on June 27, Shake Shack posted adjusted EPS of $0.29 on revenue of $116.3 million, outperforming analysts’ EPS and revenue expectations. The company’s SSSG (same-store sales growth) was in line with analysts’ expectations. Despite its impressive second-quarter earnings, Shake Shack didn’t raise its revenue guidance for 2018, citing a delay in the opening of its new restaurants. Investors had been expecting the company’s management to increase its 2018 guidance.