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Shake Shack profit misses consensus by 22.6% in fiscal Q3

Shake Shack Inc. said its normalized net income for the fiscal third quarter ended Sept. 28 came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS climbed year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.7 million, an increase from $171,250 in the year-earlier period.

The normalized profit margin rose to 3.7% from 0.3% in the year-earlier period.

Total revenue rose 40.0% on an annual basis to $74.6 million from $53.3 million, and total operating expenses grew 43.9% from the prior-year period to $65.4 million from $45.5 million.

Reported net income rose from the prior-year period to $3.7 million, or 15 cents per share, from $1.5 million, or 10 cents per share.