Fast Casual Restaurant Chain Shake Shack Posts Profit In Q3 With 21% Topline Growth
Portfolio Pulse from Shivani Kumaresan
Shake Shack Inc (NYSE:SHAK) reported Q3 FY23 sales growth of 21.2% YoY to $276.21 million, beating the analyst consensus estimate. System-wide sales grew 24.3%, and Same-Shack sales climbed 2.3%. The company reported an operating income of $5.7 million, compared to a loss of $4.8 million a year earlier. Adjusted EBITDA was $35.8 million, up 80.7% YoY. The company opened 25 new Shacks and reported an adjusted pro forma EPS of $0.17, beating the consensus estimate of $0.10. However, SHAK shares are trading lower by 3.27%.
November 02, 2023 | 4:33 pm
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Despite reporting strong Q3 FY23 results with sales growth of 21.2% YoY, opening 25 new Shacks, and beating EPS estimates, Shake Shack's shares are trading lower by 3.27%.
Despite Shake Shack's strong Q3 FY23 results, including a 21.2% YoY sales growth, the opening of 25 new Shacks, and an EPS that beat estimates, the company's shares are trading lower. This could be due to market factors or investor sentiment that are not directly related to the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100