Pedestrians walk in front of a Shake Shack location in New York.
Scott Mlyn | CNBC
Shake Shack shares fell more than 14% in extended trading Monday after the company reported third-quarter earnings that beat analysts’ expectations, but turned in disappointing same-store sales growth.
Revenue was in-line with expectations, but same-store sales rose 2.0%, shy of the 2.5% growth analysts predicted.
Here’s what the company reported compared to what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 26 cents, adjusted, vs. 20 cents expected
- Revenue: $157.8 million, vs. $157.8 million expected
Shake Shack said its net income rose to $11.4 million, or 31 cents a share, from $6.9 million, or 17 cents a share, a year ago.
Excluding items, Shake Shack earned 26 cents a share, topping estimates of 20 cents per share.
Revenue climbed 32% to $157.8 million, in-line with analysts’ predictions.
At the end of its second quarter, Shake Shack announced a deal with GrubHub.
Ahead of earnings, Shake Shack shares had gained more than 85% since the start of the year, and had a market value of $3.1 billion.
