After a strong start to the week, U.S. stock went back to declining on Wednesday, mostly driven by a tumble in oil prices and
energy stocks.
After the market closed, Shake Shack Inc (NYSE: SHAK), Flowers Foods, Inc. (NYSE: FLO) and EnerSys (NYSE: ENS) reported quarterly results.
Shares of Shake Shack tumbled about 9 percent after the bell rang, even though EPS of $0.14 and revenues of $66.5 million beat
the Street’s respective consensus estimates of $0.13 and $63 million.
Management raised its full year sales guidance to $253-$256 million, up from $245-$249 million, and above estimates of $252
million. Moreover, the team said it anticipates same-store sales will grow by 4-5 percent, and that domestic company-operated store
opening should reach 18.
Investors may not have been satisfied with the pace at which same-store sales grew over the quarter. Same-store sales rose 4.5
percent, while analysts were looking for 4.8 percent growth.
Flowers Foods lost 1.3 percent. Sales increased 5.2 percent to $935 million, missing estimates of $949 million, while EPS of
$0.24 (flat year-over-year) fell $0.02 short of the Street’s consensus. In addition, management trimmed its full year EPS forecast
from $1.00-$1.06 to $0.90-$0.95.
EnerSys posted Q1 EPS $1.02, missing the Street’s consensus by $0.08. However, sales of $600.6 million were
slightly ahead of estimates of $599.28 million.
"Our second quarter guidance for non-GAAP adjusted Net earnings per diluted share is $1.06 and $1.10, which excludes an expected
charge of $0.04 from our ongoing restructuring programs and acquisition expenses," said CEO David Shaffer.
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