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Shake Shack Inc. (SHAK) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 27, 2017

Shake Shack Inc.

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CIK: 1620533 Ticker: SHAK
Exhibit 99.1



shak-img_shakeshacklogoa03.jpg

Shake Shack Announces Fourth Quarter and Fiscal Year Ended 2017 Financial Results
- Fourth Quarter Total Revenue Grew 31.2% -
- Fourth Quarter Same-Shack Sales Increased 0.8% -
- Fiscal 2017 Total Revenue Grew 33.6% -
- System-wide Year-Over-Year Unit Growth of 39.5% -

 
NEW YORK, NY (Business Wire) — February 15, 2018 — Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK), today reported financial results for the fourth quarter and the fiscal year ended December 27, 2017, periods that included 13 and 52 weeks, respectively.
Financial Highlights for the Fourth Quarter 2017:
▪
Total revenue increased 31.2% to $96.1 million.
▪
Shack sales increased 31.3% to $93.1 million.
▪
Same-Shack sales increased 0.8%.
▪
Operating income increased 17.0% to $5.8 million, or 6.1% of total revenue.
▪
Shack-level operating profit*, a non-GAAP measure, increased 30.3% to $23.5 million, or 25.2% of Shack sales.
▪
Net loss was $13.0 million and net loss attributable to Shake Shack Inc. was $14.4 million, or $(0.55) per diluted share, which included $12.7 million of net expense relating to the enactment of the Tax Cuts and Jobs Act of 2017 (the "TCJA").
▪
Adjusted EBITDA*, a non-GAAP measure, increased 30.7% to $14.9 million.
▪
Adjusted pro forma net income*, a non-GAAP measure, increased 20.0% to $3.9 million, or $0.10 per fully exchanged and diluted share.
▪
16 system-wide Shack openings, including 11 domestic company-operated Shacks and 5 licensed Shacks.
Financial Highlights for the Fiscal Year 2017:
▪
Total revenue increased 33.6% to $358.8 million.
▪
Shack sales increased 33.6% to $346.4 million.
▪
Same-Shack sales decreased 1.2%.
▪
Operating income increased 21.6% to $33.8 million, or 9.4% of total revenue.
▪
Shack-level operating profit*, a non-GAAP measure, increased 25.9% to $92.3 million, or 26.6% of Shack sales.
▪
Net income was $6.9 million and net loss attributable to Shake Shack Inc. was $2.3 million, or $(0.09) per diluted share, which included $12.7 million of net expense relating to the enactment of the TCJA.
▪
Adjusted EBITDA*, a non-GAAP measure, increased 28.7% to $64.7 million.
▪
Adjusted pro forma net income*, a non-GAAP measure, increased 25.4% to $21.0 million, or $0.57 per fully exchanged and diluted share.
▪
45 net system-wide Shack openings, including 26 domestic company-operated Shacks and 19 net licensed Shacks, representing a net 39.5% increase in system-wide Shack count.
* Shack-level operating profit, adjusted EBITDA and adjusted pro forma net income are non-GAAP measures. Reconciliations of Shack-level operating profit to operating income, adjusted EBITDA to net income (loss), and adjusted pro forma net income to net income (loss) attributable to Shake Shack Inc., the most directly comparable financial measures presented in accordance with GAAP, are set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.”
Randy Garutti, Chief Executive Officer of Shake Shack, stated, “I'm incredibly proud of our team's achievements throughout 2017. We delivered another year of robust global growth, opening 26 new company-operated domestic Shacks and 19 net licensed Shacks, representing a nearly 40% increase on our base.  2017 marked a milestone year of digital innovation for Shake Shack, with the launch of the Shack app, self-serve kiosks at select locations and several integrated delivery pilots designed to further enhance the guest digital experience.  We will continue to build on this momentum into 2018 and beyond.”
 
Garutti concluded, “Looking ahead, 2018 is shaping up to be another exciting year of growth with 32 to 35 new domestic company-operated Shacks, our biggest year of openings to date.  We expect 16 to 18 net new licensed Shacks for the year, with a significant portion of our international growth


The following information was filed by Shake Shack Inc. (SHAK) on Thursday, February 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Shake Shack Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Schedule I: Condensed Financial Information Of Registrant
Schedule I: Condensed Financial Information Of Registrant - Balance Sheet (details)
Schedule I: Condensed Financial Information Of Registrant - Notes To Financial Statements (details)
Schedule I: Condensed Financial Information Of Registrant - Statements Of Cash Flows (details)
Schedule I: Condensed Financial Information Of Registrant - Statements Of Comprehensive Income (loss) (details)
Schedule I: Condensed Financial Information Of Registrant - Statements Of Income (loss) (details)
Schedule Ii: Valuation And Qualifying Accounts
Schedule Ii: Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Income (loss)
Consolidated Statements Of Stockholders' And Members' Equity
Accounts Receivable
Accounts Receivable (tables)
Accounts Receivable - Additional Information (details)
Accounts Receivable - Schedule Of Accounts Receivable (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt
Debt (details)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Antidilutive Securities (details) (details)
Earnings Per Share - Narrative (details)
Earnings Per Share - Schedule Of Earnings Per Share (details)
Employee Benefit Plans
Employee Benefit Plans - Deferred Compensation (details)
Employee Benefit Plans - Defined Contribution Plan (details)
Equity-based Compensation
Equity-based Compensation (tables)
Equity-based Compensation - Narrative (details)
Equity-based Compensation - Schedule Of Compensation Expense Recognized (details)
Equity-based Compensation - Schedule Of Fair Value Of Stock Options (details)
Equity-based Compensation - Schedule Of Stock Options (details)
Equity-based Compensation - Stock Options Outstanding And Exercisable (details)
Equity-based Compensation - Summary Of Performance Stock Activity (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Estimated Fair Value Of Investments (details)
Fair Value Measurements - Additional Information (details)
Fair Value Measurements - Cash, Cash Equivalents And Marketable Securities (details)
Fair Value Measurements - Schedule Of Afs Sold (details)
Fair Value Measurements - Schedule Of Gross Unrealized Losses And Fair Value (details)
Fair Value Measurements - Schedule Of Income For Afs Securities (details)
Geographic Information
Geographic Information (details)
Geographic Information (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - Schedule Of Components Of Income Before Income Taxes (details)
Income Taxes - Narrative (details)
Income Taxes - Reconciliation Of Income Tax Expense (details)
Income Taxes - Schedule Of Components Of Income Tax Expense (details)
Income Taxes- Schedule Of Deferred Tax Assets And Liabilities (details)
Inventories
Inventories (tables)
Inventories - Schedule Of Inventories (details)
Leases
Leases (tables)
Leases - Narrative (details)
Leases - Schedule Of Future Minimum Lease Payments (details)
Leases - Summary Of Rent Expense (details)
Nature Of Operations
Nature Of Operations - Initial Public Offering (details)
Nature Of Operations - Organization And Nature Of Operations - Franchiser (details)
Nature Of Operations - Organizational Transactions (details)
Nature Of Operations - Secondary Offering (details)
Non-controlling Interests
Non-controlling Interests (tables)
Non-controlling Interests - Narrative (details)
Non-controlling Interests - Ownership Interest In Sse Holdings (details)
Non-controlling Interests - Schedule Of Non-controlling Interest (details)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Related Party Transactions
Related Party Transactions (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Stockholder's Equity
Stockholder's Equity (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Advertising (details)
Summary Of Significant Accounting Policies - Asu Update (details)
Summary Of Significant Accounting Policies - Basis Of Presentation (details)
Summary Of Significant Accounting Policies - Leases (details)
Summary Of Significant Accounting Policies - Other Assets (details)
Summary Of Significant Accounting Policies - Property And Equipment (details)
Summary Of Significant Accounting Policies - Segment Reporting (details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (details)
Supplemental Balance Sheet Information (tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: SHAK
CIK: 1620533
Form Type: 10-K Annual Report
Accession Number: 0001620533-18-000015
Submitted to the SEC: Mon Feb 26 2018 5:20:29 PM EST
Accepted by the SEC: Mon Feb 26 2018
Period: Wednesday, December 27, 2017
Industry: Retail Eating And Drinking Places

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