Shake Shack Beats Expectations, Raises Outlook

Shake Shack Inc. said Thursday it earned $1.5 million, or 10 cents a share, in the third quarter, compared with $500,000, or 2 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 12 cents a share in the quarter, compared with adjusted EPS of 3 cents a share a year ago. Total revenue rose to $53.3 million from $31.8 million a year ago, the company said. Same-store sales rose 17%, it said. Analysts polled by FactSet had expected the fast-casual burger chain to report adjusted earnings of 7 cents a share on revenues of $47.3 million in the quarter. Shake Shack also increased its 2015 outlook, revising its full-year revenue forecast to $189 million to $190 million, from $171 million to $174 million, and increasing its same-store sales forecast to between 11% to 12% growth, from mid- to high-single digits growth. Shares of Shake Shack rose 4% in late trading Thursday after ending the regular trading day up 4.5%.