-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：SHAK第一季營收為3.667億美元，年增14.3%，但低於市場預期的3.72億美元。同店銷售額成長4.6%，客流量成長1.4%。調整後EBITDA下降9.3%至3,700萬美元，低於市場預期的4,560萬美元；利潤率下降260個基點至10.1%；調整後每股收益為損益平衡點，而去年同期為0.14美元。門市成長加速顯示公司對擴張經濟效益充滿信心，管理層在第一季創紀錄地新增17家門市後，將全年公司自營門市開幕目標從55-60家上調至60-65家。天氣因素導致同店銷售額下降240個基點，顯示實際成長趨勢強於報告數據。我們認為利潤率下降主要是由於在數位化和技術舉措方面增加的行政管理費用（上升190個基點至營收的14.6%），而餐廳層面的利潤率則因勞動力成本槓桿作用抵消了牛肉價格上漲的影響而上升50個基點至21.2%。關鍵問題在於，這種行政管理費用的增加是否只是暫時的，以及門市數量的加速成長能否帶來足夠的營運槓桿效應，從而恢復利潤率的成長動能。
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