11:11 AM EDT, 05/02/2024 (MT Newswires) -- Shake Shack ( SHAK ) shares were up 2.6% in recent Thursday trading after the company reported better-than-expected fiscal Q1 adjusted pro forma net income and updated its fiscal 2024 revenue guidance.

The company reported fiscal Q1 adjusted pro forma net income of $0.13 per diluted share, compared with a loss of $0.01 per share a year earlier. Analysts polled by Capital IQ expected normalized EPS of $0.10.

Revenue for the quarter ended March 27 rose to $290.5 million from $253.3 million a year earlier. Analysts surveyed by Capital IQ expected $291 million.

For fiscal Q2, the company expects revenue of $308.9 million to $314.3 million. Analysts polled by Capital IQ expect $312.7 million.

For fiscal 2024, Shake Shack ( SHAK ) said it now expects revenue of $1.22 billion to $1.25 billion, compared with its prior range of $1.21 billion to $1.25 billion. Analysts surveyed by Capital IQ expect $1.25 billion.

Price: 106.00, Change: +2.67, Percent Change: +2.58