Shake Shack Inc. (NYSE: SHAK) began Monday down sharply, after it announced preliminary unaudited results for the fiscal fourth quarter and fiscal year ended December 25, 2024 ahead of presenting at the 27th Annual ICR Conference today in Orlando, Florida. The Company also provided an updated outlook on its long-term targets, including now seeing the potential for its Company-operated footprint to reach at least 1,500
Shacks over time, versus the prior target of 450 that was provided in conjunction with the Company's February 2015 initial public offering.
The numbers projected total revenue of $328.7 million in 4Q24 and $1.3 billion in FY24. Shack sales of $316.6 million in 4Q24 and $1.2 billion in FY24.
Licensing revenue of $12.1 million in 4Q24 and $45.0 million in FY24. System-wide sales of $500.7 million in 4Q24 and $1.9 billion in FY24.
Same-Shack sales up 4.3% versus 2023 in 4Q24 and 3.6% versus 2023 in FY24.
Restaurant-level profit margin expected to be approximately 22.7% of Shack sales in 4Q24 and approximately 21.4% of Shack sales in FY24. Adjusted EBITDAof $46.5 million in 4Q24 and $175.4 million in FY24.
The company also announced the opening of 43 new Company-operated Shacks in FY24, 19 of which opened in 4Q24. Opened 33 new licensed Shacks in FY24, nine of which opened in 4Q24.
SHAK shares Stumbled $7.03, or 5.5%, to $121.40
