Shake Shack Inc (STU:9SH)

€ 122.4 0.35 (0.29%) Market Cap: 4.90 Bil Enterprise Value: 5.36 Bil PE Ratio: 769.00 PB Ratio: 11.47 GF Score: 81/100

Q3 2024 Shake Shack Inc Earnings Call Transcript

Oct 30, 2024 / 12:00PM GMT

Release Date Price: €119.2 (+12.77%)

Transcript 8-K

Key Points

Positve

Shake Shack Inc (SHAK) reported its 15th consecutive quarter of positive Same-Shack sales growth.
The company achieved a 28% increase in adjusted EBITDA, reaching $45.8 million.
Shake Shack Inc (SHAK) expanded its global footprint to over 550 locations, opening 17 new Shacks in the quarter.
The company is on track to reduce build costs by approximately 10% in 2024.
Shake Shack Inc (SHAK) plans to accelerate new unit openings to 80-85 in 2025, indicating strong growth potential.

Negative

Shake Shack Inc (SHAK) closed nine Shacks due to underperformance, incurring a $28.2 million expense related to these closures.
The company faces continued inflationary pressures, particularly in beef costs.
Despite strong sales, the company reported a net loss attributable to Shake Shack Inc (SHAK) of $10.2 million.
There are geopolitical and macroeconomic challenges affecting international markets, particularly in China and the Middle East.
The company is still in the early stages of optimizing operational efficiencies, which may impact short-term performance.

Operator

Greetings. Welcome to Shake Shack's third-quarter 2024 earnings call. (Operator Instructions) As a reminder, this conference is being recorded.

I would now like to hand the conference over to Michael Oriolo, Vice President of FP&A and Investor Relations. Thank you. You may begin.

Michael Oriolo

Shake Shack Inc - Vice President of FP&A and Investor Relations

Thank you, and good morning, everyone. Joining me for Shake Shack's conference call is our CEO, Rob Lynch; and CFO, Katie Fogertey. During today's call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are available in our earnings release and the financial details section of our shareholder letter.

Some of today's statements may be forward-looking, and actual results may differ materially due to a number of risks and uncertainties,

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