Shake Shack beats by $0.04, beats on revs; guides FY18 revs below consensus
- Reports Q4 (Dec) earnings of $0.10 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.06; revenues rose 31.2% year/year to $96.14 mln vs the $92.8 mln Capital IQ Consensus.
- Same-Shack sales increased 0.8%.
- Adjusted EBITDA, a non-GAAP measure, increased 30.7% to $14.9 million.
- Co issues downside guidance for FY18, sees FY18 revs of $444-448 mln vs. $458.96 mln Capital IQ Consensus Estimate; expects Same-Shack sales to be flat, which includes approximately 1.5% to 2% of menu price increases taken in December 2017.
- 2020 Targets -- By the end of fiscal year 2020, the Company is targeting:
- At least 200 domestic company-operated Shacks and at least 120 global licensed Shacks, and
- Over $700 million in total revenue.
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