SHAK Stock Recent News

Shake Shack, Inc. SHAK reported better-than-expected second-quarter results on Thursday.

The broader stock market is causing investors a little pain to start the month of August, as the S&P 500 is declining by as much as 0.75%. The NASDAQ is lowering by over 1%, despite the Federal Reserve (the Fed) announcing that an interest rate cut is on the table for September 2024 and the CME's FedWatch tool pricing in an over 90% probability of this happening; markets are selling off.

Josh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to discuss why he sees growth potential for Shake Shack.

Shake Shack (SHAK) shares skyrocketed after the company posted better-than-anticipated results and gave an upbeat forecast as it benefited from higher prices.

Shake Shack Inc. (NYSE:SHAK ) Q2 2024 Earnings Conference Call August 1, 2024 8:00 AM ET Company Participants Michael Oriolo – Vice President, FP&A and Investor Relations Rob Lynch – Chief Executive Officer Katie Fogertey – Chief Financial Officer Conference Call Participants Brian Mullan – Piper Sandler Lauren Silberman – Deutsche Bank Brian Vaccaro – Raymond James Michael Tamas – Oppenheimer & Company Andrew Charles – TD Cowen Christine Cho – Goldman Sachs Brian Harbour – Morgan Stanley Peter Saleh – BTIG Jake Bartlett – Truist Securities Sara Senatore – Bank of America Daniel Guglielmo – Capital One Securities Jeff Farmer – Gordon Haskett David Tarantino – Baird Andy Barish – Jefferies Sharon Zackfia – William Blair Jim Sanderson – North Coast Research Chris O'Cull – Stifel Operator Greetings. Welcome to Shake Shack Second Quarter 2024 Earnings Call.

Shake Shack continues opening new locations and is currently enjoying same-store-sales growth, greatly lifting its revenue numbers. The stock has soared in 2024 as investors size up higher revenue and profits.

While the top- and bottom-line numbers for Shake Shack (SHAK) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Shake Shack (SHAK) came out with quarterly earnings of $0.27 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.18 per share a year ago.

Shake Shack Inc.'s stock SHAK was up nearly 15% in premarket trading on Thursday after the restaurant chain said its second-quarter profit rose 39% and beat Wall Street's revenue estimate. Shake Shack said its second-quarter net income rose to $9.67 million, or 23 cents a share, from $6.95 million, or 16 cents a share in the year-ago period.

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