| Source: Seeking Alpha, Shake Shack's (SHAK) CEO Randall Garutti on Q3 2015 Results - Earnings Call Transcript Even so, Q2 same shack sales were down 49.0% and overall sales (including non-comp units) were down 39.5%. The current analyst consensus estimates (per Bloomberg) for calendar 21 and calendar 22 are: $735M and $913M in sales, $0.21 and $0.64 of EPS, respectively. | Source: Seeking Alpha, Shake Shack's (SHAK) CEO Randall Garutti on Q2 2017 Results - Earnings Call Transcript Aside from the numbers, the presentation as always, from a conceptual standpoint, was outstanding. We have consistently praised management for the culture they have built within a very rapidly growing worldwide system. Warren Buffet Is Wrong. has no obligation to notify subscribers or viewers relative to any change in such positions. Nov. 5, 2021 | Price: Free! Feb. 26, 2021 | Price: Free! We wrote an article two days ago, reviewing the state of the restaurant industry at the one year anniversary of the pandemic. SHAKE SHACK reports. Licensed sales also sequentially improving, down 10% in October. Harry Browne Was Right! Shake Shack found themselves more exposed than almost everyone else to the effects of the pandemic, since many of their locations are in malls and destination sites, with heavy rents, no drive-thrus and relatively little delivery or curbside pickup before the pandemic. Harry Browne Is Back! | Source: Seeking Alpha, Shake Shack, Inc. (SHAK) CEO Randy Garutti on Q4 2021 Results - Earnings Call Transcript Below are links to: RESTAURANT BRANDS INTERNATIONAL (QSR) CORPORATE DESCRIPTION, RUTHS HOSPITALITY GROUP, INC. (RUTH) CORPORATE DESCRIPTION, SHAKE SHACK (SHAK) CORPORATE DESCRIPTION, https://seekingalpha.com/article/4465840-shake-shacks-shak-ceo-randy-garutti-on-q3-2021-results-earnings-call-transcript, https://seekingalpha.com/article/4466125-shake-shack-inc-2021-q3-results-earnings-call-presentation.

| Source: Motley Fool, Shake Shack Inc. (SHAK) CEO Randy Garutti on Q2 2019 Results - Earnings Call Transcript

Copyright 2022 Surperformance. | Source: Seeking Alpha, Shake Shack's (SHAK) CEO Randy Garutti on Q1 2018 Results - Earnings Call Transcript If you experience any issues with this process, please contact us for further assistance. Our readers have no doubt noticed that we have had very few writeups on individual companies over the last six to seven months. Bartaco & Barcelona Wine Bar With this first look in mind, we will fine tune our view of the current situation for each of these four companies, none of which are we currently long or short. The notes are due in 2028 and THE INTEREST RATE IS ZERO. Cash and cash equivalents as of 6/24/20 was $173M vs. $37M on 12/25/19. Management has done an admirable job of adjusting to the new reality. - June 11, 2021, Major owner of Shake Shack just picked up 253 shares - June 11, 2021, Statement of changes in beneficial ownership of securities - June 11, 2021, Shake Shack director just picked up 379 shares - June 11, 2021, Shake Shack director just cashed-in 1,022 options - June 10, 2021, Shake Shack Appoints Katherine Fogertey As Chief Financial Officer - June 9, 2021, Automatic shelf registration statement of securities of well-known seasoned issuers - June 7, 2021, Shake Shack's Chief Operating Officer just disposed of 284 shares - May 20, 2021, Current report, items 2.02, 7.01, and 9.01 (9) There were no new financials provided. Nov. 1, 2017 | Price: Free! May 7, 2021 | Price: Free! Chicken Salad Chick After opening 20 in 20, planning 35-40 in 21, thinking about 45-50 in 22. | Source: Motley Fool, Shake Shack (SHAK) Q2 2019 Earnings Call Transcript Shake Shack Inc. (SHAK) CEO Randy Garutti on Q1 2022 Results - Earnings Call Transcript Shake Shack's Chief Operating Officer just picked up 3,405 shares, Major owner of Shake Shack just picked up 13,124 shares, BlackRock, Inc. just provided an update on share ownership of Shake Shack, Major owner of Shake Shack just picked up 19,971 shares, Shake Shack's Chief Financial Officer just picked up 9,986 shares, Shake Shack's Chief Operating Officer just picked up 8,878 shares, Shake: Announces Fourth Quarter And Fiscal Year 2021 Financial Results, Statement of acquisition of beneficial ownership by individuals, Shake Shack Provides Fourth Quarter 2021 Business Update, Shake: Announces Third Quarter 2021 Financial Results, Shake: Announces Second Quarter 2021 Financial Results, Shake Shack's Chief Financial Officer just picked up 21,497 shares, Shake Shack director just cashed-in 1,022 options, The Vanguard Group just provided an update on share ownership of Shake Shack, Shake Shack just filed a prospectus, suggesting it plans to soon issue some securities. | Source: Seeking Alpha, Shake Shack, Inc. (SHAK) CEO Randall Garutti on Q4 2020 Results - Earnings Call Transcript Digital ordering, curbside pickup, and delivery have all been expanded, and there has been sequential improvement from the disastrous lows of March and April through July when the Company reported their Q2 results. Going forward from here, we used the earnings consensus estimate, per Bloomberg, LP as of today, for 2021, to calculate todays P/E multiple of forward earnings. into a Material Definitive - March 5, 2021, Shake Shack Prices $225 Million 0% Convertible Senior Notes Offering (Up 45% Conversion Premium) - March 4, 2021, Major owner of Shake Shack just disposed of 110,000 shares - March 3, 2021, Shake Shack's Chief Operating Officer just disposed of 987 shares - March 3, 2021, Shake Shack's PRESIDENT & CFO just disposed of 2,050 shares - March 3, 2021, Shake Shack Announces Proposed Private Placement Of $225 Million Of Convertible Senior Notes - March 1, 2021, Annual report [Section 13 and 15(d), not S-K Item 405] - Feb. 26, 2021, Shake: Announces Fourth Quarter And Fiscal Year 2020 Financial Results - Feb. 25, 2021, Major owner of Shake Shack just cashed-in 140,000 options - Feb. 18, 2021, Statement of acquisition of beneficial ownership by individuals - Feb. 17, 2021, Statement of acquisition of beneficial ownership by individuals - Feb. 16, 2021, Gilder, just provided an update on share ownership of Shake Shack - Feb. 16, 2021, George S. Loening just provided an update on share ownership of Shake Shack - Feb. 12, 2021, The Vanguard Group just provided an update on share ownership of Shake Shack - Feb. 10, 2021, Major owner of Shake Shack just disposed of 110,000 shares - Feb. 3, 2021, Major owner of Shake Shack just cashed-in 145,000 options - Jan. 20, 2021, Shake Shack's Chief Operating Officer just cashed-in 2,920 options - Jan. 14, 2021, Shake Shack's Chief Operating Officer just cashed-in 1,460 options - Jan. 12, 2021, Current report, items 2.02, 7.01, and 9.01 This values each of the current system locations over $15 million. | Source: Seeking Alpha, Shack Shack's (SHAK) CEO Randall Garutti on Q3 2017 Results - Earnings Call Transcript There is a very long runway for growth and thats a large reason why this system, with long term (before inflation, of course) AUVs projected to be just above $3M is so well regarded by the investment community. | Source: Seeking Alpha, Shake Shack Inc. (SHAK) CEO Randy Garutti on Q1 2020 Results - Earnings Call Transcript PAPA JOHNs reports. | Source: Seeking Alpha, Shake Shack Inc. (SHAK) CEO Randy Garutti on Q3 2019 Results - Earnings Call Transcript Shake Shack (SHAK) has been provided by the capital markets with a great opportunity to raise capital with minimal dilution, as well as allowing pre-IPO shareholders with great liquidity at a high valuation.

Shake Shack to Announce Second Quarter 2022 Financial Results on August 4, 2022. Restaurant Brands reports, only change is CHRIS OCULL downgrading to HOLD. LAUREN SILBERMAN and BRIAN MULLEN are neutral, while PETER SALEH & NICK SETYAN like it. In the case of SHAK, because of their inopportune positioning with so many urban, airport, malls and destination locations, along with no drive-thru units, it has no doubt cost them several years. Eggs Up Grill (7) Some great videos were shown: the curbside pickup, the Beijing opening, the drive thru experience. From a week ago: JIM SANDERSON and BRIAN VACCARO upgrade Shake Shack to Buy and MARKET PERFORM, respectively. October was down 21% overall, urban down 33%, suburban down only 4%. The company has continuously carried the necessary high level of G&A in these formative years and management indicates that this will continue to be the case. Nov. 5, 2019 | Price: Free!

| Source: Seeking Alpha, Shake Shack (SHAK) Q3 2019 Earnings Call Transcript Cooper's Hawk Winery/Restaurant | Source: Seeking Alpha, Shake Shack's Chief Financial Officer just disposed of 1,550 shares - July 19, 2022, Shake Shack's Chief Operating Officer just cashed-in 5,000 options - July 18, 2022, Major owner of Shake Shack just picked up 21,000 shares - July 13, 2022, Major owner of Shake Shack just picked up 1,668 shares - June 16, 2022, Shake Shack director just picked up 3,089 shares - June 16, 2022, Shake Shack director just picked up 3,460 shares - June 16, 2022, Shake Shack director just picked up 1,545 shares - June 16, 2022, Shake Shack director just picked up 1,792 shares - June 16, 2022, Major owner of Shake Shack just picked up 3,089 shares - June 16, 2022, Submission Delayed However, we expect to know a lot more with the release of the third quarter results and should be able to make some informed judgements at least as far as the next twelve months. The company raised about $130M in late April at about $40/share, and that represents most of the $179M of cash currently on the balance sheet. May 2, 2019 | Price: Free! The halo created by founder Danny Meyer and his team led by Randy Garutti has been maintained, even though modest traffic declines, even before the pandemic, were a fact of life.

RL does not guarantee the accuracy of information provided We are in the process of bringing up to date the corporate descriptions for virtually all the publicly held restaurant companies. With so many urban and destination locations, the sequential improvement has been material but more modest than many peer competitors. Estimates call for a loss in 2020, then profits of $0.11 per share in 2021. May 6, 2022 | Price: Free! Greetings, and welcome to the Shake Shack First Quarter 2022 Earnings Call.

You will find here (as of the most recent quarterly report) the essence of the business, the valuation relative to earnings, EPS (reported and future consensus) and trailing EBITDA, and a thumbnail Balance Sheet. There are lots of other operating details we could provide relative to company efforts to adjust to the situation at hand, but analyst consensus estimates provide a pretty good general idea of expectations going forward. They are selling burgers. | Source: Seeking Alpha, Shake Shack Inc. (SHAK) CEO Randy Garutti on Q4 2018 Results - Earnings Call Transcript The SHAK stock (at $111/share) is now providing a market capitalization of $4.6 billion. Olga's Kitchen. No question, there is a long runway for growth, but people..with all due respect to the creation of a holistic ecosystem, there are no vaccines or cancer cures being developed here. After submitting your request, you will receive an activation email to the requested email address. LAUREN SILBERMAN, JEFFREY BERNSTEIN, DAVID PALMER and ANDREW CHARLES continue to like it. Harry Browne Was Right! We encourage readers to SEARCH on our home page for more details, but in essence, new locations, pre-pandemic were doing a little over $3M annually, with store level EBITDA less than half of what they were before and immediately after the IPO. It should be noted that the highest EPS in their history was $0.72 in 2019, flat with the $0.71 in 18. By way of this interactive website, we will put our four decades of successful analysis and investing to work for you. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. As part of our BOTTOM LINE, advice to publicly held companies, we said companies, in almost all cases, should sell company stock..it may be a long time before you see these valuations again.. July 31, 2020 | Price: Free! BRIAN MULLAN, NICK SETYAN, and M.STANLEY analyst are NEUTRAL. March 2, 2017 | Price: Free! You can sign up for additional alert options at any time. The other major reason for the valuation is that SHAK was founded by the legendary Danny Meyer, and CEO, Randy Garutti, along with his team, is respected almost as much. Valuation aside, weve always given management the highest possible marks, both in terms of operating skills and financial management, and they have proven it once again. - Jan. 12, 2021, Shake Shack's Chief Operating Officer just cashed-in 2,920 options - Jan. 6, 2021, Shake Shack's PRESIDENT & CFO just picked up 3,184 shares - Jan. 6, 2021, Major owner of Shake Shack just disposed of 10,885 shares - Jan. 6, 2021, Major owner of Shake Shack just cashed-in 50,000 options - Dec. 17, 2020, Shake Shack's Chief Operating Officer just cashed-in 700 options - Dec. 14, 2020, Major owner of Shake Shack just cashed-in 25,000 options - Dec. 7, 2020, www.conferencecalltranscripts.org 2020 | Terms of Service, Shake Shack Inc. (SHAK) CEO Randy Garutti on Q1 2022 Results - Earnings Call Transcript, Shake Shack, Inc. (SHAK) CEO Randy Garutti on Q4 2021 Results - Earnings Call Transcript, Shake Shack Inc Class A (SHAK) Q3 2021 Earnings Call Transcript, Shake Shack's (SHAK) CEO Randy Garutti on Q3 2021 Results - Earnings Call Transcript, Shake Shack Inc Class A (SHAK) Q2 2021 Earnings Call Transcript, Shake Shack Inc (SHAK) Q1 2021 Earnings Call Transcript, Shake Shack, Inc. (SHAK) CEO Randy Garutti on Q1 2021 Results - Earnings Call Transcript, Shake Shack, Inc. (SHAK) CEO Randall Garutti on Q4 2020 Results - Earnings Call Transcript, Shake Shack Inc (SHAK) Q4 2020 Earnings Call Transcript, Shake Shack, Inc. (SHAK) CEO Randall Garutti on Q3 2020 Results - Earnings Call Transcript, Shake Shack Inc. (SHAK) CEO Randy Garutti on Q2 2020 Results - Earnings Call Transcript, Shake Shack Inc. 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(SHAK) CEO Randy Garutti on Q4 2018 Results - Earnings Call Transcript, Shake Shack (SHAK) CEO Randy Garutti on Q3 2018 Results - Earnings Call Transcript, Shake Shack (SHAK) CEO Randy Garutti on Q2 2018 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randy Garutti on Q1 2018 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randall Garutti on Q4 2017 Results - Earnings Call Transcript, Shack Shack's (SHAK) CEO Randall Garutti on Q3 2017 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randall Garutti on Q2 2017 Results - Earnings Call Transcript, Shake Shack' (SHAK) CEO Randy Garutti on Q1 2017 Results - Earnings Call Transcript, Shake Shack' (SHAK) CEO Randy Garutti on Q4 2016 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randy Garutti on Q3 2016 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randy Garutti on Q2 2016 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randy Garutti on Q4 2015 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randall Garutti on Q3 2015 Results - Earnings Call Transcript, Shake Shack's (SHAK) CEO Randall Garutti on Q2 2015 Results - Earnings Call Transcript, Shake Shack's Chief Financial Officer just disposed of 1,550 shares, Shake Shack's Chief Operating Officer just cashed-in 5,000 options, Major owner of Shake Shack just picked up 21,000 shares, Major owner of Shake Shack just picked up 1,668 shares, Shake Shack director just picked up 3,089 shares, Shake Shack director just picked up 3,460 shares, Shake Shack director just picked up 1,545 shares, Shake Shack director just picked up 1,792 shares, Major owner of Shake Shack just picked up 3,089 shares, Submission | Source: Seeking Alpha, Shake Shack (SHAK) CEO Randy Garutti on Q2 2018 Results - Earnings Call Transcript of Matters to a Vote of Security, Shake Shack director just picked up 3,500 shares, Alger Associates, Inc. just provided an update on share ownership of Shake Shack. Shake Shack's Chief Financial Officer just declared 0 ownership of the company. https://seekingalpha.com/article/4506236-restaurant-brands-international-inc-qsr-ceo-jose-cil-on-q1-2022-results-earnings-call. SSS were down 64% in April, down 42% in May, 42% in June and 39% in July. (1) There is an exciting digital transformation taking place.

For the purpose of normalizing the 2020 earnings (ex the pandemics effect), for the first look we simplistically added 10% to the reported TTM ending 12/31/2019 (or as close to that date as we could calculate).