Shake Shack: 3Q Earnings Snapshot
NEW YORK (AP) _ Shake Shack Inc. (SHAK) on Thursday reported third-quarter net income of $5 million.
On a per-share basis, the New York-based company said it had net income of 17 cents. Earnings, adjusted for non-recurring costs, were 21 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
Shake Shack: 2Q Earnings Snapshot
NEW YORK (AP) _ Shake Shack Inc. (SHAK) on Thursday reported second-quarter net income of $7.6 million.
On a per-share basis, the New York-based company said it had net income of 26 cents. Earnings, adjusted for non-recurring costs, were 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:
Fluor Corp., down $13.23 to $45.76
The company slashed its annual forecast because of problems with a gas-fired power project.
Shake Shack Inc., up $8.54 to $55.95
The burger chain had a better first quarter than analysts expected.
Pandora Media Inc., up $1.14 to $6.89
The music streaming service posted a smaller loss and more revenue than Wall Street had forecast.
Weight Watchers International Inc., up 13 cents to $69.83
Shake Shack third-quarter profit jumps 33 percent
NEW YORK (AP) — Shake Shack Inc. said its third-quarter profit jumped nearly 33 percent, and the company now plans to open to open between 32 and 35 new restaurants next year.
The New York-based company said it earned $5 million, or 19 cents per share, in the quarter. That's up from $3.8 million, or 15 cents per share, a year ago. Earnings, adjusted for one-time items, came to 17 cents per share.
Shake Shack says a key sales figure declined
NEW YORK (AP) — Shake Shack says a key sales figure declined 2.5 percent in the first quarter as customer traffic fell.
The New York-based burger company also lowered its sales forecast for the year, saying it now expects sales at established locations to be flat, down from its previous guidance for growth of 2 to 3 percent. Its shares fell nearly 8 percent to $30.57 in after-hours trading.
A push by upstart restaurant chains to challenge the dominance of Domino’s Pizza Inc. and Pizza Hut isn’t going well.
Pie Five, a business that’s attempting to bring a fast-casual approach to pizza, is shuttering locations in Illinois, Colorado and Minnesota. The Wisconsin-based Toppers Pizza chain, meanwhile, is closing four locations in the Chicago area.