Sweetgreen Inc (SG)

Sweetgreen (SG) stock declined by 9,03% following its quarterly earnings report.

• Shortfall in earnings: The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01).
• Negative ROE and margin: Sweetgreen had a low return on equity (ROE) of 21.58% and also had a negative net margin of 19.41%
• Although revenue for the quarter was up 29.0% compared to the previous year, the negative earnings and profitability figures likely contributed to the stock's decline.

Shares of Sweetgreen Inc. (SG) dropped by 8.68% from $11.86 to $10.83 in the trading on Tuesday October 3, 2023. The SG stock is down today is due to the announcement today that a subsidiary of its real estate development branch, [Safe and Green Development Corporation](https://ir.safeandgreenholdings.com/news-events/press-releases/detail/328/safe-and-green-development-corporation-executes-new , has entered into a new non-binding letter of intent to sell its Lago Vista site for $11.5 million. The proceeds from this sale will be utilized as equity in a new joint venture with a prominent real estate development firm. This news has likely influenced investor sentiment and contributed to the stock's decrease.

Sweetgreen Inc's shares fell 8.74% due to disappointing quarterly performance. Revenue increased but missed estimates of $156.7 million, and the company reported a GAAP loss of $0.24 per share, worse than last year and estimates of a loss of $0.16.

https://www.fool.com/investing/2023/07/28/why-sweetgreen-stock-was-sliding-today/