Shake Shack Inc. reported a net loss of $10.7 million for the fourth quarter of 2020, but their stock rose 4.2% premarket due to meeting revenue and same-store sales estimates. Revenue was $238.5 million and same-store sales increased 5.1%, both in line with FactSet consensus. Despite the loss, the company’s performance met expectations and investors responded positively to the news.
Shake Shack Inc.
SHAK,
stock rose 4.2% in premarket trade Thursday after the burger chain met Wall Street’s fourth-quarter revenue and same-store sales estimates. The company posted a net loss of $10.7 million, or a loss of 27 cents a share, compared with a net loss of $9.7 million, or a loss of 25 cents a share, in the year-earlier period. Adjusted per-share loss was 6 cents, compared to the FactSet consensus of an 11 cents per-share loss. Revenue rose to $238.5 million from $203.3 million in the same period last year. Analysts surveyed by FactSet were looking for revenue of $238.5 million. Shake Shack’s same-store sales rose 5.1%, in line with FactSet consensus.