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Shake Shack Announces Third Quarter 2018 Financial Results

Shake Shack Inc. (NYSE: SHAK) has reported its financial results for the third quarter ended September 26, 2018, a period that included 13 weeks.

Financial Highlights for the Third Quarter 2018:

  • Total revenue increased 26.5% to $119.6 million.
  • Shack sales increased 27.2% to $115.9 million.
  • Same-Shack sales decreased 0.7%.
  • Operating income was $9.3 million, or 7.8% of total revenue, which included the impact of costs associated with Project Concrete and other one-time items totaling $1.5 million, resulting in a decrease of 11.9%.
  • Shack-level operating profit*, a non-GAAP measure, increased 20.7% to $29.9 million, or 25.8% of Shack sales.
  • Net income was $6.9 million and net income attributable to Shake Shack Inc. was $5.0 million, or $0.17 per diluted share, which included an after-tax impact of $1.2 million related to Project Concrete and other one-time items and...

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