Sweetgreen reports Q1 EPS (23c), consensus (16c)

Reports Q1 revenue $157.9M, consensus $151.97M. Same-Store Sales Change of 5% was consistent with the prior year period. “Sweetgreen delivered strong first quarter results across the board. Year-over-year, revenue grew 26% and Restaurant-Level Profit Margin expanded by 400 basis points to 18%. We delivered positive Adjusted EBITDA during a traditionally slower first quarter. We remain confident that our strategy positions Sweetgreen for success today as well as for long-term, capital efficient, profitable growth,” said Jonathan Neman, Co-Founder and Chief Executive Officer. “At the heart of our strategy and our business is our team members. I want to take a moment to extend my gratitude to each of them for their unrelenting drive to further our mission of connecting people to real food.”