Shake Shack reported quarterly earnings and revenue that beat analysts' expectations on Monday, but shares fell sharply on a sales growth outlook that was a bit below expectations.
The company posted fourth-quarter earnings per share of 8 cents and revenue for the quarter came in at $51 million. This is the first time that Shake Shack has reported fourth-quarter earnings since its IPO last January.
Analysts had expected Shake Shack to report earnings of 7 cents per share on about $50 million in revenue, according to a consensus estimate from Thomson Reuters. The restaurant's stock, which was priced initially at $21 per share, is currently trading at nearly double its IPO price.