Shake Shack (SHAK) reports mixed Q1 results, stock climbs
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Shake Shack Announces First Quarter 2024 Financial Results
May 2, 2024 7:00 AM EDTTotal revenue of $290.5 million, up 14.7% versus 2023, including $280.6 million of Shack sales and $9.9 million of Licensing revenue. System-wide sales of $443.3 million, up 12.3% versus 2023. Same-Shack sales up 1.6% versus 2023, with trends improving each month of the quarter. April SSS grew 4.9% year-over-year. Operating income of $0.0 million, versus an operating loss of $3.2 million in 2023. Restaurant-level profit(1) of $54.7 million, or 19.5% of Shack sales. Net income of $2.2 million versus a net loss of $1.6 million in 2023. Adjusted EBITDA(1) of $35.9 million, up 30.2%... More
