Shake Shack Inc. (NYSE:SHAK) Q4 2022 Earnings Conference Call February 16, 2023 8:00 AM ET
Company Participants
Annalee Leggett - Senior Manager of Investor Relations & FP&A
Randy Garutti - Chief Executive Officer
Katie Fogertey - Chief Financial Officer
Conference Call Participants
Lauren Silberman - Credit Suisse
Mike Tamas - Oppenheimer & Co.
Sharon Zackfia - William Blair
Jake Bartlett - Truist Securities
Peter Saleh - BTIG
Andrew Charles - Cowen & Company
David Tarantino - Baird
Jim Sanderson - Northcoast Research
Rahul Krotthapalli - J.P. Morgan
Brian Harbour - Morgan Stanley
Operator
Good day, and welcome to the Shake Shack Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
At this time, I'd like to turn the call over to Annalee Leggett, Senior Manager of Investor Relations and FP&A.
Annalee Leggett
Thank you, and good morning, everyone.
Joining me for Shake Shack's conference call is our CEO, Randy Garutti; and CFO, Katie Fogertey.
During today's call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are available on our earnings release and financial details section of our shareholder letter.
Some of today's statements may be forward looking, and actual results may differ materially to a number of risks and uncertainties, including those discussed in our annual report on Form 10-K filed on February 18, 2022. Any forward-looking statements represent our views only as of today and we assume no obligation to update any forward-looking statements if our views change.
By now, you should have access to our fourth quarter 2022 Shareholder Letter, which can be found at invest.shakeshack.com in the Quarterly Results section or as an exhibit to our 8-K for the quarter.
I will now turn the call over to Randy.
Randy Garutti
Thanks, Annalee. Good morning, everyone.
2022 was a year of continuous improvement in Shack formats and [feel] (ph), culinary innovation and focused strategic planning for the exciting road we have ahead. We ended the year opening 69 Shacks globally, growing our unit count by more than 18%, with system-wide sales expanding more than 22% year-over-year to a record $1.4 billion.