On Thursday, Shares of Shake Shack Inc (NYSE:SHAK), added 10.67% and closed at $36.81 in the last trading session. The last trading range of the stock ranges between $35.75 and $38.97. Shake Shack Inc. (“Shake Shack” or the “Company”) (SHAK), recently stated its financial results for the third quarter ended September 28, 2016, a period that included 13 weeks.
Financial Highlights for the Third Quarter 2016:
Total revenue raised 40.0% to $74.6 million.
Shack sales raised 40.2% to $71.9 million.
Same-Shack sales raised 2.9%.
Operating income raised 17.5% to $9.2 million.
Shack-level operating profit*, a non-GAAP measure, raised 32.6% to $20.7 million, or 28.8% of Shack sales.
Adjusted EBITDA*, a non-GAAP measure, raised 26.3% to $15.2 million.
Net income attributable to Shake Shack Inc. was $3.8 million, or $0.15 per diluted share.
Adjusted pro forma net income*, a non-GAAP measure, raised 25.1% to $5.5 million, or $0.15 per fully exchanged and diluted share.
Ten system-wide Shack openings, counting seven domestic company-operated Shacks and three net new licensed Shacks.
SunPower Corporation (NASDAQ:SPWR), jumped 0.32% and closed at $6.32 in the last trading session. The last trading range of the stock ranges between $6.19 and $6.73. The company’s Market capitalization is $749.40 Million with the total Outstanding Shares of 138.13 Million. SunPower Corporation (SPWR), a leading solar technology and energy services provider, recently declared that Howard Wenger, president of Business Units, will be leaving the company during the next six months.
Wenger, a known leader in solar for more than 30 years, has been an executive officer at the company for almost 10 years. He was on the executive team and board of directors of PowerLight Corporation, which was attained by SunPower in 2007. Wenger assisted SunPower establish a residential business, pioneer a large scale solar business, and expand the company’s global reach, entering new markets for solar. He will remain with SunPower in his current role for a period of time and eventually as an advisor to the company to ensure a smooth transition.