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Sweetgreen (SG) Reports Q4: Everything You Need To Know Ahead Of Earnings

Published 2024-02-28, 02:00 a/m
Updated 2024-02-28, 06:18 a/m
Sweetgreen (SG) Reports Q4: Everything You Need To Know Ahead Of Earnings

Stock Story -

Casual salad chain Sweetgreen (NYSE:SG) (NYSE:SG) will be reporting results tomorrow afternoon. Here's what you need to know.

Last quarter Sweetgreen reported revenues of $153.4 million, up 23.7% year on year, missing analyst expectations by 0.8%. It was a weak quarter for the company, with a miss of analysts' earnings estimates and full-year revenue guidance missing analysts' expectations.

Is Sweetgreen buy or sell heading into the earnings? Find out by reading the original article on StockStory.

This quarter analysts are expecting Sweetgreen's revenue to grow 28.3% year on year to $152.1 million, improving on the 23% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.15 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates six times over the last two years.

Looking at Sweetgreen's peers in the modern fast food segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Wingstop (NASDAQ:WING) delivered top-line growth of 21.2% year on year, beating analyst estimates by 5.7% and Chipotle reported revenues up 15.4% year on year, exceeding estimates by 1.1%. Wingstop traded down 4.6% on the results, Chipotle was up 2.1%.

Read the full analysis of Wingstop's and Chipotle's results on StockStory.

There has been positive sentiment among investors in the modern fast food segment, with the stocks up on average 2.3% over the last month. Sweetgreen is up 10% during the same time, and is heading into the earnings with analyst price target of $13.5, compared to share price of $12.03.

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