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Jun 30, 2024
Sweetgreen Q2 2024 Earnings Report
Sweetgreen's Q2 2024 performance reflected strong topline sales growth and Adjusted EBITDA driven by margin flow through and G&A leverage.
Key Takeaways
Sweetgreen, Inc. reported a 21% increase in total revenue to $184.6 million for the second quarter of fiscal year 2024, compared to the prior year period. The company's Same-Store Sales Change was 9%, and Restaurant-Level Profit Margin was 22%. Adjusted EBITDA was $12.4 million. They are raising their guidance for 2024 given their results during the first half of the year.
Total revenue increased by 21% to $184.6 million compared to the prior year period.
Same-Store Sales Change increased by 9%, up from 3% in the prior year period.
Restaurant-Level Profit was $41.5 million with a Restaurant-Level Profit Margin of 22%.
Adjusted EBITDA was $12.4 million, compared to $3.3 million in the prior year period.
Forward Guidance
For fiscal year 2024, Sweetgreen is updating their financial guidance to reflect the strength of their first and second quarter.
Positive Outlook
- 24-26 Net New Restaurant Openings
- Revenue ranging from $670 million to $680 million
- Same-Store Sales Change between 5-7%
- Restaurant-Level Profit Margin of 19%-20%
- Adjusted EBITDA between $16 million to $19 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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