Shake Shack stock climbs on narrowing third-quarter loss, revenue beat
Shake Shack Inc.'s stock climbed 5.9% Thursday before market open, lifted by a narrowing third-quarter loss and revenue that just topped analysts' estimate. The restaurant chain reported a third-quarter loss of $2 million, or 5 cents a share, compared with a loss of $2.2 million, or 6 cents a share, in the same period last year. On an adjusted basis, Shake Shack reported a loss of 6 cents a share. Analysts surveyed by FactSet had forecast a loss of 6 cents a share. The company's third-quarter revenue was $227.8 million, compared with $193.9 million in the year-ago quarter and just above FactSet consensus of $225.9 million. Shake Shack's same-store sales rose 6.3% from the prior-year's quarter, above the FactSet consensus of 5.4%.
-James Rogers
(END) Dow Jones Newswires
November 03, 2022 07:32 ET (11:32 GMT)
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