Shake Shack Inc. (NYSE:SHAK) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET

Company Participants

Michael Oriolo - Vice President, FP&A & Investor Relations
Rob Lynch - Chief Executive Officer
Katie Fogertey - Chief Financial Officer

Conference Call Participants

Michael Tamas - Oppenheimer & Company
Brian Vaccaro - Raymond James
Lauren Silberman - Deutsche Bank
Christine Cho - Goldman Sachs
Brian Mullan - Piper Sandler
Andrew Charles - TD Cowen
Brian Harbour – Morgan Stanley
Sharon Zackfia - William Blair
Peter Saleh - BTIG
Jake Bartlett - Truist Securities
Sara Senatore - Bank of America
David Tarantino - Baird
Andy Barish - Jefferies
Jim Sanderson - Northcoast Research
Daniel Guglielmo - Capital One Securities
Jeffrey Bernstein - Barclays
Rahul Krotthapalli - JPMorgan

Operator

Greetings. Welcome to Shake Shack's Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to hand the conference over to Michael Oriolo, Vice President of FP&A and Investor Relations. Thank you. You may begin.

Michael Oriolo

Thank you, and good morning, everyone. Joining me for Shake Shack's conference call is our CEO, Rob Lynch; 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 in our earnings release and the financial details section of our shareholder letter.

Some of today's statements may be forward-looking, and actual results may differ materially due to a number of risks and uncertainties, including those discussed in our annual report on Form 10-K filed on February 29, 2024. 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 third quarter 2024 shareholder letter, which can be found at investor.shakeshack.com in the quarterly results section where as exhibit to our 8-K for the quarter.

I will now turn the call over to Rob.

Rob Lynch

Thank you, Mike, and good morning, everyone. It's been a great third quarter. We delivered our 15th consecutive positive quarter of Same-Shack sales growth, our ninth straight quarter of restaurant level margin expansion, and we grew adjusted EBITDA 28% to $45.8 million.