Sweetgreen Inc (NYSE:SG) shares are tanking in Thursday’s after-hours session after the company turned in worse-than-expected financial results and cut its full-year guidance.
- Q2 Revenue: $185.58 million, versus estimates of $194.34 million
- Q2 Loss: 20 cents versus estimates of 11 cents
Check SG stock’s price action here.
Total revenue was up 0.5% on a year-over-year basis, but same-store sales declined 7.6% year-over-year. The company said it opened nine new restaurants during the quarter versus four in the prior year’s quarter.
Sweetgreen ended the quarter with approximately $168.45 million in cash and cash equivalents.
“Sweetgreen’s second quarter results reflected a convergence of several headwinds, including macroeconomic pressures, a challenging comparison to last year’s strong Q2, and the transition of our loyalty program,” said Jonathan Neman, co-founder and CEO of Sweetgreen.
“While we’re not satisfied with today’s results, we’re confident in our ability to improve in the back half of 2025.”
Guidance: Sweetgreen lowered its full-year 2025 revenue guidance from a range of $740 million to $760 million to a new range of $700 million to $715 million versus Benzinga Pro estimates of $746.3 million.
The company said it expects same-store sales to be down 4% to 6% in fiscal 2025. Sweetgreen guided for full-year adjusted EBITDA of $10 million to $15 million.
SG Price Action: Sweetgreen shares were down 25.75% in after-hours Thursday, trading at $9.36 at the time of publication, per Benzinga Pro.
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