By Maria Masood
12:22 AM UTC
Shake Shack Inc. (SHAK) is known for its organic Angus beef burgers, chicken sandwiches, and flat-top Vienna beef dogs. The company also offers spun-fresh frozen custard, crinkle-cut fries, and much more. The company utilizes premium ingredients and caring practices to its inspirational designs and deep community investment. The company has a global presence in different countries.
The price of SHAK stock during the regular trading on February 17, 2022, was $75.1 with a drop of 4.55%. At last check in the aftermarket, the stock was further down by 11.3%.
On February 17, 2022, SHAK released its financial results for the Q4 2021 ended December 29, 2021. Some of the key points are discussed below.
Revenue in the fourth quarter of 2021 was $203.3 million against $157.5 million in the same quarter of 2020. The company observed a surge of 29% in revenue over the year. The company topped the analysts’ estimates by $9190.
Basic and diluted net loss per share in Q4 2021 was $10.3 million or $0.25 compared to $20.3 million or $0.50 in the same quarter of 2020. The EPS of the company increased over the yearly period. Also, the company missed the estimated EPS by -$0.08.
On February 3, 2022, SHAK and DASH collaborated for a limited-time dating site for the company’s Buffalo Chicken Sandwich lovers. The site is named ‘Eat Cute’. On January 6, 2022, SHAK and SPC Group reported about the expansion of their collaboration by the opening of ten branches of the company in Malaysia by 2031. The company’s first branch is expected to start working in 2023.
On January 5, 2022, SHAK updated about its Executive management’s participation at the Virtual 24th Annual ICR Conference on January 11, 2022. On November 16, 2021, SHAK announced its management’s presence at the following investor conferences.
On November 03, 2021, SHAK and FreedomPay informed about their strategic collaboration to implement next-level commerce solutions across many localities. FreedomPay brought an additional choice of payment type for clients via touchless commerce capacities.
SHAK stock down-performed by 12% in the last year. The company’s stock is plunging in aftermarket trading as it announced its earnings release. Although the company topped the revenue estimates, it missed the estimated EPS target by a big margin. For the first fiscal quarter of 2022, the analysts are expecting the company’s revenue more than the last quarter’s revenue i.e., $210.9 million and EPS of -$0.10.