Shake Shack (SHAK) shares skyrocketed after the company posted better-than-anticipated results and gave an upbeat forecast as it benefited from ❀h🅷igher prices. 

The burger-and-milkshake chain reported second-quarter adjusted earnings per share (EPS) of $0.27, with revenue rising 16% to more than $316 million. Both exceeded forecasts. 澳洲幸运5官方开奖结果体彩网:Same-store sales rose 4%, beating estimates, driven by improvements in traffic over the first𒀰 quarter as well as a more favorable mix of customer orders.

Shares of Shake Shack rose some 16% in recent t൲rading and are up about 37% year-to-date.

Traffic fell 0.8%, which the company blamed on slowing marketing in June, but turned positive in July. The company sai✤d challenges ♐to traffic in the New York City area continued.

CEO Rob Lynch, who 澳洲幸运5官方开奖结果体彩网:moved from Papa John's (PZZA) in May, said Shake Shack set records for sales, adjusted earnings befꩵore interest, taxes, depreciation, and amortization (EBITDA), and 澳洲幸运5官方开奖结果体彩网:free cash flow. H💃e said the chain remained on track to meet its 2024 financial goals, including revenue growth of 14% to 15% for the year. 

The company predicted that it will achieve positive free cash flow for the year, the first time it’s done so since 2017.