CLAIM #459 · Shake Shack Inc (SHAK) · 2023Q2 earnings call · Aug 3, 2023 · due Dec 31, 2024
“we expect to continue to generate significant adjusted EBITDA next year and a lot of cash.”
Randy Garutti · CEO
In context
“have to happen as you grow a restaurant company, especially at our still small scale. So, some of those may be outsized in total dollars today. But where are we at in committing to this? We're committing to taking down that overall cost to build, and improving the numbers you just said in '24 and beyond. I expect we will, maybe by your measure, certainly by the measures that we share. And that's our goal to improve our overall return on capital for our individual restaurants and our company overall. And I think let's just take a beat. because I don't think we've talked about this yet on this call really, take a look at the adjusted EBITDA growth of this company year-over-year. It is significant. It is materially game changing in the percentage growth of adjusted EBITDA over this year and we expect to continue to generate significant adjusted EBITDA next year and a lot of cash. So, I think it's going to be a good year for all the metrics you're asking about. And those things take time. As I said, you've got a lot of restaurants designed and in flight. You can't change those things mid-flight. But we're putting all the things in place that will improve that next year, and in the years to come. Operator: Our next question is from Jim Sanderson with North Coast Research. Please proceed. Jim Sanderson: Hey. thanks for the question and congratulations on the improvement in store level margin. Wanted to dig into the detail on the labor hours per week. Is that only for stores that had the kiosk, or is that a system-wide number that you cited? Katie Fogertey: Hi. Yes. No. that's system-wide. And it's not just Kiosks that's driving that. It is a blend of higher retention”
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SEC filings for SHAK ↗ · Claim quote is verbatim from the 2023Q2 earnings call.