Why Shake Shack (SHAK) Shares Are Jumping Today - Shake Shack (NYSE:SHAK)

Shake Shack Inc SHAK shares are jumping Thursday morning following its Street-beating Q1 performance.
SHAK reported first-quarter FY23 sales growth of 24.5% year-on-year to $253.28 million, beating the consensus of $245.67 million.
System-wide sales grew 27.5%, and Same-Shack sales climbed 10.3%.
Loss from operations for the quarter was $(3.2) million versus a loss of $(14.9) million a year ago.
The company held $293.43 million in cash and equivalents as of March 29, 2023. Cash provided by operating activities for the quarter totaled $19.8 million.
Adjusted EBITDA for the quarter was $27.6 million, with the margin expanding 580 basis points to 10.9%.
Adjusted pro forma EPS loss was $(0.01) for the quarter, beating the consensus of $(0.08).
Price Action: SHAK shares are trading higher by 11.5% at $58.92 on the last check Thursday.

Why Shake Shack Shares Are Jumping Today