Sweetgreen demonstrated strong growth in revenue and same-store sales, driven by their Infinite Kitchens and successful expansion into new markets. Despite reporting a net loss, improvements in restaurant-level margins and adjusted EBITDA indicate positive financial trends.

Company Guidance

During Sweetgreen's Q3 2024 earnings call, the company reported impressive financial improvements and provided robust guidance for the future. Total revenue for the third quarter was $173.4 million, reflecting a 13% year-over-year increase. The company experienced a 6% growth in same-store sales, consisting of a 4% increase from menu prices and a 2% rise in traffic and mix. Sweetgreen opened 5 new restaurants, bringing their total to 236, and achieved a restaurant-level profit margin of 20.2%, marking a more than 100 basis point improvement over the previous year. Adjusted EBITDA reached $6.8 million, a significant improvement from last year. Looking ahead, Sweetgreen plans to open 24 to 26 new restaurants in 2024, targeting a revenue range of $675 million to $680 million and maintaining same-store sales growth between 6% and 7%. The company aims to expand its Infinite Kitchen concept, with plans to open at least 40 new locations in 2025, approximately half of which will feature this innovative technology.

Year-over-Year Revenue Growth

Sweetgreen reported sales of $173.4 million for Q3 2024, representing a 13% year-over-year growth.

Same-Store Sales Increase

Same-store sales in the third quarter grew 6%, with emerging markets like the Midwest, Texas, and the Southeast comping double digits.

Expansion of Infinite Kitchens

Sweetgreen operates 10 Infinite Kitchens, with plans to have nearly triple the number by the end of 2025. These kitchens are contributing to operational efficiencies and guest satisfaction.

Improved Restaurant-Level Margin

The restaurant-level margin for Q3 2024 was 20.2%, expanding by over 100 basis points compared to last year.

Strong Adjusted EBITDA

Adjusted EBITDA for Q3 2024 was $6.8 million, a $4.3 million improvement from the third quarter of 2023.

Successful New Market Entries

New restaurants in Columbus, Ohio, and Charlotte, North Carolina, had some of the best opening weeks in the company's history.

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Sweetgreen (SG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 03, 2022	2021 (Q4)	-0.66 / -1.14	―	―	―	―
May 05, 2022	2022 (Q1)	-0.39 / -0.45	-0.278	-61.87% (-0.17)	―	―
Aug 09, 2022	2022 (Q2)	-0.30 / -0.36	-0.25	-44.00% (-0.11)	―	―
Nov 08, 2022	2022 (Q3)	-0.36 / -0.43	-1.58	72.78% (+1.15)	―
Feb 23, 2023	2022 (Q4)	-0.40 / -0.44	-1.14	61.40% (+0.70)	―
May 04, 2023	2023 (Q1)	-0.35 / -0.30	-0.45	33.33% (+0.15)	―
Jul 27, 2023	2023 (Q2)	-0.18 / -0.24	-0.36	33.33% (+0.12)	―
Nov 02, 2023	2023 (Q3)	-0.21 / -0.22	-0.43	48.84% (+0.21)	―
Feb 29, 2024	2023 (Q4)	-0.23 / -0.24	-0.44	45.45% (+0.20)	―
May 09, 2024	2024 (Q1)	-0.18 / -0.23	-0.3	23.33% (+0.07)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$42.20	$39.69	-5.95%
Aug 08, 2024	$26.25	$35.01	+33.37%
May 09, 2024	$23.56	$31.56	+33.96%
Feb 29, 2024	$12.74	$16.36	+28.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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