NASDAQ$SG
SweetGreen · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Sweetgreen's financial performance in Q1 2024 demonstrated substantial year-over-year growth and improved profitability.
Sweetgreen reported a strong first quarter in 2024, with a 26% increase in total revenue to $157.9 million. The company's Restaurant-Level Profit Margin expanded by 400 basis points to 18%, and it achieved positive Adjusted EBITDA of $0.1 million. Sweetgreen is updating its financial guidance for fiscal year 2024 to reflect the strength of the first quarter.
- Total revenue increased by 26% to $157.9 million compared to the prior year.
- Same-Store Sales Change was 5%, consistent with the prior year period.
- Restaurant-Level Profit Margin expanded by 400 basis points to 18%.
- Adjusted EBITDA was positive at $0.1 million, compared to $(6.7) million in the prior year.
Headline financials
Revenue & EPS history
Sweetgreen · Revenue · Quarterly
$158M
Forward guidance
Sweetgreen provided financial guidance for fiscal year 2024, reflecting the strength of the first quarter.
Tailwinds
- Net New Restaurant Openings: 23-27
- Revenue: $660 million to $675 million
- Same-Store Sales Change: 4-6%
- Restaurant-Level Profit Margin: 18.5%-20%
- Adjusted EBITDA: $10 million to $19 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.5%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-0.7%
Avg return
30 days after
43%
9 / 21 earnings
Positive
+35.7%
Q1 2024
Best reaction
-22.2%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -5.4% | +7.7% | |
| Q4 2025 | -9.8% | -9.9% | -23.5% | |
| Q3 2025 | -7.4% | -14.1% | +7.0% | |
| Q1 2025 | -16.0% | -14.0% | -22.7% | |
| Q4 2024 | +0.0% | -7.2% | +10.3% | |
| Q3 2024 | -4.7% | -9.0% | +1.0% | |
| Q2 2024 | +35.6% | +33.5% | +7.9% | |
| Q1 2024 | +35.7% | +37.5% | +39.0% | |
| Q4 2023 | +31.9% | +43.8% | +103.7% | |
| Q3 2023 | -6.8% | -5.6% | -4.6% | |
| Q2 2023 | -14.1% | -12.0% | -15.3% | |
| Q1 2023 | +16.7% | +16.4% | +27.5% | |
| Q4 2020 | -1.6% | -10.6% | -33.4% | |
| Q4 2022 | -1.6% | -10.6% | -33.4% | |
| Q3 2021 | -12.4% | -15.7% | -39.0% | |
| Q3 2022 | -20.2% | -13.4% | -36.3% | |
| Q2 2021 | +8.0% | +20.4% | +20.1% | |
| Q2 2022 | +3.5% | +12.6% | +10.6% | |
| Q1 2021 | -22.2% | -32.3% | -33.8% | |
| Q1 2022 | -15.5% | -27.2% | -38.6% | |
| Q4 2021 | +11.2% | +24.2% | +31.8% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — |
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