Shake Shack ( (SHAK) ) has shared an update.
Shake Shack reported a 14.7% increase in total revenue for Q3 2024, reaching $316.9 million, but faced a net loss of $11.1 million due to impairments and asset disposals. System-wide sales grew by 12.8%, and same-store sales rose by 4.4%. Despite the loss, the company opened 17 new locations, including drive-thrus, and achieved a 28% rise in adjusted EBITDA to $45.8 million, indicating resilience and expansion potential in the challenging market.
For an in-depth examination of SHAK stock, go to TipRanks’ Stock Analysis page.
