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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.
Sweetgreen
Sweetgreen
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