Shake Shack Inc. (NYSE: SHAK) reported its second quarter financial results after the markets closed Monday. The company had $0.09 in earnings per share (EPS) on $48.5 million in revenue compared to Thomson Reuters consensus estimates that call for $0.03 in EPS on $42.80 million in revenue. The same period from the previous year had $0.03 in EPS on $27.74 million in revenue.

Same-Shack sales increased 12.9% for the second quarter of 2015, on a calendar basis, versus 4.5% growth in the second quarter last year.

The company updated its outlook on the 2015 full year. Shake Shack expects its total revenue in the range of $171 million to $174 million (versus $161 million to $165 million) and increasing same-shack sales growth to mid- to high-single digits (versus low-to mid-single digits).

As previously announced, the Company plans to enter three important new markets in 2016, with Shacks in West Hollywood, CA on Santa Monica Boulevard; Scottsdale, AZ in the Fashion Square shopping center; and, internationally, in Japan through its partnership with The Sazaby League.

Randy Garutti, CEO of Shake Shack, commented on earnings:

Our team continues to execute on our plan and we have delivered another strong quarter of outstanding operational results. During the quarter we opened three domestic company-operated Shacks as we planted roots in Austin, Texas, continued to expand in Chicago opening our second Shack, located on Michigan Avenue, and strengthened our presence in the New York metro area with our third Shack in New Jersey, at the Village at Bridgewater Commons. After more than seven months, we celebrated the reopening of our flagship Madison Square Park Shack. Internationally, we opened our second Shack in the U.K. and our third Shack in Moscow.

At the end of the second quarter, Shake Shack’s cash and cash equivalents totaled $64.92 million compared to $2.68 million from the same period last year.

About 20 minutes after the announcement of its second quarter financial results, Shake Shack announced the commencement of a secondary offering of 4 million shares of the company’s class A common stock with an overallotment option for an additional 600,000 shares. Shake Shack will not receive any of the proceeds from the offering, as all the shares being offered are from selling stockholders. The underwriters for the offering are JPMorgan, Morgan Stanley, Goldman Sachs, Barclays, Jefferiees, William Blair and Stifel.

Shares of Shake Shack closed Monday down 1.4% at $70.64 on its 52-week trading range of $38.64 to $96.75. Following the release of the earnings report, shares were up 12.9% at $79.72 in the after-hours trading session. The stock has a consensus analyst price target of $43.40.

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