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 Shake Shack Stock Jumps After Upgrade Despite EPS, Sales Miss -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Shake Shack Inc (NYSE: stock gained Friday despite the company missing forecasts on revenue and earnings per share. 

Fast-food restaurant chain McDonald’s reported a EPS of $5 on $193.9 million in revenue. According to consensus, the company earned 6 cents per share and made $197.5million in revenue. Shake Shack shares ended the day higher than 16%

Shake Shack CEO Randy Garutti expressed satisfaction with Shake Shack’s third-quarter sales performance, despite the missed opportunity.

He said, “This quarter marked our highest-ever revenue quarter with total revenues at $193.9million and systemwide sales of $298.6million.” 

Peter Saleh from BTIG was also optimistic about the company’s prospects, and recommended that the stock be bought to neutral after the release of third quarter earnings. 

Saleh stated that they think “the company’s fundamentals are at their bottom with an upside trajectory ahead.” 

Saleh stated that the performance of employees will improve with the increase in tourism and return to work starting mid-November. 

 

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