Key Takeaways Sweetgreen cut its second-quarter losses nearly in half and beat revenue estimates as it added new locations. The salad restaurant chain also had a 9% year-over-year gain in same-store sales. Sweetgreen raised the low end of its full-year outlook on several financial metrics. Sweetgreen (SG) shares skyrocketed Friday, a day after the salad restaurant chain slashed its loss, boosted sales, and raised its guidance as it expanded locations. Sweetgreen posted a second-quarter net loss of $14.5 mil ...

Sweetgreen Inc (NYSE:SG) is near the top of the New York Stock Exchange (NYSE) today, last seen up 22.1% to trade at $32.09. While the health-centric, fast-casual restaurant reported a steeper-than-expected second-quarter loss, a revenue beat and increased same-store sales outlook is fueling the upside today. In response, four brokerages hiked their price targets, the highest coming from Oppenheimer to $36 from $34. The stock is no stranger to outsized post-earnings moves, gapping higher 34% after in May an ...

Sweetgreen, Inc. (NYSE:SG) Q2 2024 Earnings Call August 8, 2024 5:00 PM ET Company Participants Rebecca Nounou - Investor Relations Jonathan Neman - Co-Founder and Chief Executive Officer Mitch Reback - Chief Financial Officer Conference Call Participants Sharon Zackfia - William Blair Katherine Griffin - Bank of America Brian Mullan - Piper Sandler Logan Reich - RBC Capital Markets Jon Tower - Citi Brian Bittner - Oppenheimer & Co. Andrew Charles - TD Cowen Christine Cho - Goldman Sachs Brian Harbour - Mor ...

Sweetgreen, Inc. (SG) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -18.18%. A quarter ago, it was expected that this company would post a loss of $0.21 per share when it actually produced a loss of $0.23, delivering a surprise of -9.52%. Over the last four quarters, the company has not be ...

Table of Contents Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock SG New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...

Financial Performance - Total revenue for Q2 2024 was $184.6 million, a 21% increase from $152.5 million in Q2 2023[2] - Revenue for Q2 2024 was $184,641,000, representing a 21% increase from $152,525,000 in Q2 2023[27] - Revenue for the second quarter of 2024 reached $342.491 million, a 23.4% increase from $277.587 million in the same period of 2023[29] - Same-Store Sales Change was 9%, up from 3% in the prior year period[2] - Same-store sales increased by 9% for the quarter, compared to a 3% increase in the same period last year[33] Profitability Metrics - Loss from operations was $(16.2) million, improving from $(31.2) million in the prior year, with a loss margin of (9)% compared to (20)%[2][4] - Restaurant-Level Profit was $41.5 million, with a margin of 22%, up from $31.1 million and 20% in the prior year[2] - Adjusted EBITDA was $12.4 million, compared to $3.3 million in the prior year, with an Adjusted EBITDA Margin of 7% versus 2%[2][6] - Adjusted EBITDA for the thirteen weeks ended June 30, 2024, was $12,357,000, significantly up from $3,269,000 in the prior year, indicating a strong operational performance[38] - Net loss for the quarter was $40.527 million, improving from a net loss of $60.915 million year-over-year[29] - Net loss for the thirteen weeks ended June 30, 2024, was $14,460,000, compared to a net loss of $27,258,000 for the same period in 2023, representing a 47% improvement[38] - Net loss margin improved to (8%) for the thirteen weeks ended June 30, 2024, compared to (18%) for the same period in 2023[38] - Adjusted EBITDA margin increased to 7% for the thirteen weeks ended June 30, 2024, up from 2% in the prior year, reflecting enhanced profitability[38] Expenses and Cost Management - General and administrative expenses decreased to $39.2 million, or 21% of revenue, down from $40.4 million, or 26% of revenue in the prior year[5] - General and administrative expenses were $39,202,000, accounting for 21% of revenue in Q2 2024, down from 26% in Q2 2023[27] - Stock-based compensation for the thirteen weeks ended June 30, 2024, was $10,903,000, down from $14,402,000 in the prior year, suggesting cost management efforts[38] - Restructuring charges amounted to $494,000 for the thirteen weeks ended June 30, 2024, a significant decrease from $4,998,000 in the same period last year, indicating successful restructuring initiatives[38] Asset and Liability Management - Total current assets decreased to $265,789,000 in Q2 2024 from $276,111,000 in Q2 2023[25] - Total liabilities increased to $389,039,000 in Q2 2024 from $373,960,000 in Q2 2023[25] - Cash and cash equivalents decreased to $244,583,000 in Q2 2024 from $257,230,000 in Q2 2023[25] - Total cash and cash equivalents at the end of the period were $245.158 million, down from $280.458 million a year ago[31] Operational Highlights - The company plans to open 24-26 new restaurants in fiscal year 2024[7] - The company opened 4 new restaurants in the quarter, bringing the total to 10 new openings for the year[33] - The company operates over 225 locations across the United States, aiming to build healthier communities through real food[23] - The company continues to invest in local farmers and enhance the customer experience with innovative technology[23] - The new Caramelized Garlic Steak has quickly become a customer favorite, contributing to the positive sales momentum[2] - The company is focused on expanding its menu and driving innovation to enhance customer experience and unlock long-term value[10] Digital Revenue - Digital revenue accounted for 56% of total revenue, with owned digital revenue at 31%[33] Other Financial Metrics - Average unit volume (AUV) for the second quarter was $2,925, consistent with the previous year[33] - Cash provided by operating activities was $22.542 million, a significant increase from $4.821 million in the prior year[31] - Interest income decreased to $(2,920,000) for the thirteen weeks ended June 30, 2024, compared to $(3,251,000) in the prior year, reflecting changes in investment returns[38] - The company incurred $909,000 in other expenses for the thirteen weeks ended June 30, 2024, compared to $(1,073,000) in the same period last year, highlighting fluctuations in operational costs[38] - The company reported a loss on disposal of property and equipment of $49,000 for the thirteen weeks ended June 30, 2024, compared to $10,000 in the prior year, indicating asset management challenges[38]

The market expects Sweetgreen, Inc. (SG) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be releas ...

Investors should also take note of any recent adjustments to analyst estimates for Sweetgreen, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual ...

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Robot chefs Nevertheless, that operating margin spread is too wide to ignore. Sweetgreen management aims to open seven new Infinite Kitchen-equipped restaurants this year and retrofit three or four existing outlets with the system. That'll cost a pretty penny, sure, but the company's wallet is relatively fat. At the end of the aforementioned quarter it held nearly $244 million in cash in its coffers, and the machines clearly have vast, bottom-line-lifting potential. The improvements should continue. The com ...