- Shake Shack Inc (NYSE: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.
RBC Capital Maintains Sector Perform on Bank of Nova Scotia, Raises Price Target to C$86
RBC Capital analyst Darko Mihelic maintains Bank of Nova Scotia (TSX:BNS) with a Sector Perform and raises the price target from C$83 to C$86.
