Sweetgreen sinks as salad maker posts earnings miss and slashes guidance (again)

Sweetgreen shares slumped 25% Thursday after the cult favorite salad chain missed Q2 estimates and cut its full-year revenue forecast for the second quarter in a row.

The company posted a Q2 loss of $0.15 per share, wider than the $0.10 loss analysts had expected. Revenue came in at $185.6 million, also shy of Wall Street’s $191.9 million forecast. Same-store sales missed estimates as well, dipping 7.6%.

But the real gut punch came from its latest guidance cut: Sweetgreen now expects full-year 2025 revenue between $700 million and $715 million, down from its forecast of $740 million to $760 million in May and as much as $780 million in its February outlook. Not a great look for a brand that wants to be the next Chipotle!

CEO Jonathan Neman called it a “really, really rough quarter” on Thursday’s earnings call, sharing that just one-third of the company’s locations are performing at or above internal standards. Orders rose 17% year over year to $82.7 million, but average order value fell 5%, which execs partly blamed on changes to its delivery perks for Instacart+ members.

Sweetgreen shares are now down 70% year to date.