Sweetgreen reports Q1 EPS (21c), consensus (17c)

Reports Q1 revenue $166.3M, consensus $164.9M. Reports Q1: Same-Store Sales change of (3.1%), versus Same-Store Sales change of 5.0% in the prior year period. AUV of $2.9 million was consistent with the prior year period. Total Digital Revenue Percentage of 59.9% and Owned Digital Revenue Percentage of 31.9%, versus Total Digital Revenue Percentage of 58.9% and Owned Digital Revenue Percentage of 32.8% in the prior year period. “Sweetgreen’s (SG) first quarter results demonstrate the strength and adaptability of our operating model. In the face of a challenging industry landscape, we stayed true to our mission, driving innovation and elevating the guest experience,” said Jonathan Neman, Co-Founder and Chief Executive Officer. “We believe the strength of our brand, our deep focus on the customer, and commitment to delivering a meaningful value proposition positions Sweetgreen well to navigate the current environment.” “In the first quarter, Sweetgreen delivered a restaurant-level margin of 17.9%, ahead of our guidance range despite external headwinds,” said Mitch Reback, Chief Financial Officer. “We believe our financial model, combined with a focus on innovation, will enable Sweetgreen to reach more communities, deepen guest engagement, and build a resilient platform for sustainable, long-term growth.”