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Shake Shack Inc. shares swung between gains and losses in the extended session Thursday after the fast-food restaurant chain topped Wall Street’s bottom-line estimates but forecast an outlook that was lower than expected.
Shake Shack
SHAK,
shares, which had been down nearly 5% after hours, ended the extended session down 2%, following a 6.4% decline in the regular session to close at $56.05.
The company posted a first-quarter loss of $10.2 million, or 26 cents a share, versus net income of $1.3 million, or a penny a share, in the year-earlier quarter. On an adjusted basis, Shake Shack lost 19 cents a share, versus adjusted earnings per share of 4 cents a year prior.
Shake Shack’s revenue for the quarter rose to $203.4 million from $155.3 million.
Analysts polled by FactSet had forecast a loss of 23 cents a share on revenue of $200.8 million, based on the company’s forecast of revenue between $196 million to $201.4 million.
Shake Shack, however, estimated revenue of $233.8 million to $239.5 million for the second quarter, while analysts expect $242.9 million.
