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Shake Shack
Shake Shack (SHAK) investor relations material
Shake Shack Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue rose 15.2% YoY to $423.3M; system-wide sales increased 12.8% to $644.8M.
Same-Shack sales rose 2.5% on 0.8% traffic growth and 1.7% price mix; 21 Company-operated and 16 licensed Shacks opened.
Adjusted EBITDA increased 16% to $62.8M; net income was $17.8M and net income attributable to shareholders was $16.5M.
Financial highlights
Shack sales rose 15.6% to $408M; licensing revenue increased 4.7% to $15.3M.
Operating income was $21.5M vs. $18.5M YoY; net income was $17.8M vs. $13.7M, and attributable net income was $16.5M vs. $12.5M.
Q3 diluted EPS was $0.39; 9M diluted EPS was $0.76 vs. $0.81 YoY.
9M revenue was $1,207.6M vs. $1,044.8M; operating income was $39.6M vs. $43.8M and attributable net income was $31.9M vs. $33.9M.
Adjusted pro forma net income was $17.8M and fully exchanged diluted EPS was $0.40.
Outlook and guidance
FY2026 company-operated openings remain forecast at 60–65; licensed openings are expected at the high end of the 40–45 range.
FY2026 same-Shack sales guidance remains low single digits; adjusted EBITDA is expected toward the low end of $225M–$235M, with restaurant margins targeted at 22%–23%.
FY2026 G&A is expected toward the low end of the 12%–13% of revenue target; year-end gross pricing is expected at ~2%.
Q4 adjusted EBITDA guidance reflects higher marketing spend, team investments, technology initiatives, and comparison with prior-year value and media programs.
A loyalty beta may launch in Q4 2026 or Q1 2027 if ready; management views it as a long-term guest-value investment, not a near-term sales or margin driver.
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Latest events from Shake Shack
- Revenue grew 40.9%; rapid expansion faces rising labor and market-entry costs.SHAK
Q4 2016 - Revenue jumped 61%, while FY16 growth plans face labor-cost and margin pressure.SHAKQ4 2015
- Rapid expansion lifted revenue, but traffic softness, labor costs and TCJA tax effects weighed on results.SHAKQ4 2017
- Strong FY18 growth meets rising cost pressure and a 36–40-Shack FY19 expansion plan.SHAKQ4 2018
- 2019 growth was strong, but COVID-19 uncertainty halted development and clouded 2020 guidance.SHAKQ4 2019
- Pandemic losses met steady recovery, digital growth and an expansion push.SHAKQ4 2020
- Recovery drove growth, but inflation and operating constraints weighed on the outlook.SHAKQ4 2021
- Sales rebounded, but GAAP losses persisted as margin recovery and expansion advanced.SHAKQ4 2022
- Revenue topped $1.08B as margins expanded, but tax-control failures forced restatements.SHAKQ4 2023
Next Shake Shack earnings date
Q4 202625 Feb, 2027
Shake Shack
Next Shake Shack earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Shake Shack Inc is a restaurant company that owns and operates a chain of fast-casual restaurants. The company offers burgers, chicken, hot dogs, fries, shakes, and beverages, and emphasizes premium ingredients and sustainability. It operates both company-owned and licensed locations globally. Shake Shack Inc is headquartered in New York, New York, and its shares are listed on the NYSE.