Earnings summaries and quarterly performance for Shake Shack.
Executive leadership at Shake Shack.
Board of directors at Shake Shack.
Research analysts who have asked questions during Shake Shack earnings calls.
Brian Vaccaro
Raymond James Financial, Inc.
4 questions for SHAK
Also covers: BLMN, CAKE, CAVA +7 more
Jake Bartlett
Truist Securities
4 questions for SHAK
Also covers: CBRL, DENN, DIN +11 more
Michael Tamas
Oppenheimer & Co. Inc.
4 questions for SHAK
Also covers: BJRI, DENN
Sharon Zackfia
William Blair & Company
4 questions for SHAK
Also covers: BIRK, BJRI, BROS +16 more
Brian Mullan
Piper Sandler
3 questions for SHAK
Also covers: BJRI, BLMN, BROS +18 more
Hyun Jin Cho
Goldman Sachs
3 questions for SHAK
Also covers: CMG, DRI, EAT +6 more
James Sanderson
Northcoast Research
3 questions for SHAK
Also covers: CAKE, DASH, DRI +7 more
Jeffrey Bernstein
Barclays
3 questions for SHAK
Also covers: BJRI, BLMN, BROS +22 more
Jeffrey Farmer
Gordon Haskett Research Advisors
3 questions for SHAK
Also covers: BLMN, BROS, CAKE +7 more
Peter Saleh
BTIG
3 questions for SHAK
Also covers: BYND, CHEF, DPZ +13 more
Rahul Krotthapalli
JPMorgan Chase & Co.
3 questions for SHAK
Also covers: BROS, CAKE, CAVA +8 more
Andrew Barish
Jefferies
2 questions for SHAK
Also covers: BROS, CAKE, CAVA +10 more
Andrew Charles
TD Cowen
2 questions for SHAK
Also covers: BROS, CAVA, CMG +13 more
Brian Harbour
Morgan Stanley
2 questions for SHAK
Also covers: BLMN, BROS, CAKE +21 more
Daniel Guglielmo
Capital One
2 questions for SHAK
Also covers: ARKO, CHDN, CZR +7 more
David Tarantino
Robert W. Baird & Co.
2 questions for SHAK
Also covers: ATKR, BROS, CAKE +18 more
Lauren Silberman
Deutsche Bank
2 questions for SHAK
Also covers: BLMN, CAKE, CMG +13 more
Sara Senatore
Bank of America
2 questions for SHAK
Also covers: BLMN, BROS, CAKE +21 more
Andrew North
Robert W. Baird & Co.
1 question for SHAK
Also covers: CAKE, CMG, JACK
Christine Cho
Goldman Sachs Group
1 question for SHAK
Also covers: BEP, BEPC, BLMN +22 more
Christopher O'Cull
Stifel, Nicolaus & Company
1 question for SHAK
Also covers: BROS, CAVA, CMG +13 more
Dan Guglielmo
Capital One Financial Corporation
1 question for SHAK
Also covers: ARKO, EPRT, GLPI +3 more
Jim Sanderson
Northcoast Research
1 question for SHAK
Also covers: CAKE, DRI, EAT +6 more
Pratik Patel
Barclays
1 question for SHAK
Also covers: BJRI, DIN, EAT +1 more
Zach Ogden
TD Cowen
1 question for SHAK
Also covers: CMG, DRI, FWRG +2 more
Recent press releases and 8-K filings for SHAK.
Shake Shack Announces CFO Transition and Reaffirms 2025 Financial Guidance
SHAK
CFO Change
Guidance Update
New Projects/Investments
- Shake Shack's CFO, Katherine Fogertey, will step down effective March 4, 2026, transitioning into a senior advisor role, with an Office of the CFO established to ensure stability during the search for her replacement.
- The company reiterated its financial guidance for 2025, projecting approximately $1.45 billion in revenue, low-single-digit same-store sales growth, and adjusted EBITDA between $210 million and $215 million.
- Shake Shack plans to open 45 to 50 company-operated and 35 to 40 licensed locations in 2025, reaffirming its three-year targets of low-teens percentage growth in revenue and unit count.
Nov 25, 2025, 12:46 PM
Shake Shack Announces CFO Transition and Reaffirms 2025 Guidance
SHAK
CFO Change
Guidance Update
Management Change
- Katherine Fogertey, Chief Financial Officer of Shake Shack Inc., will step down effective March 4, 2026, and will immediately transition into a Senior Advisor role to ensure a smooth handoff.
- The company will launch an immediate search for a new Chief Financial Officer and has established an Office of the CFO to provide stability during the transition period.
- Shake Shack reiterated its Fourth Quarter and Fiscal Year 2025 guidance, expecting total revenue of approximately $1.45 billion and Adjusted EBITDA of $210 million to $215 million for FY 2025.
- During her transition, Ms. Fogertey will continue to receive her annual base salary of $618,000.00 and will receive 100% of her bonus earned for fiscal year 2025.
Nov 25, 2025, 12:38 PM
Shake Shack Reports Strong Q3 2025 Results and Provides FY 2025 Guidance
SHAK
Earnings
Guidance Update
New Projects/Investments
- Shake Shack reported strong Q3 2025 financial results, with total revenue increasing 15.9% year-over-year to $367.4 million and same-shack sales growing 4.9%, driven by 1.3% positive traffic. The company achieved a restaurant-level profit margin of 22.8% and adjusted EBITDA of $54.1 million, an 18.2% increase year-over-year.
- The company is making strategic investments in operational improvements, supply chain diversification to mitigate mid-teens beef inflation, and technology infrastructure, including kiosks, digital channels, and a planned loyalty platform for 2026. Michael Fanuel was appointed Chief Brand Officer to evolve the marketing model.
- Despite macro headwinds in key markets like New York Metro and Washington D.C., and a less accretive Q4 limited-time offer (LTO), Shake Shack successfully pivoted to in-app value platforms, which led to an 85% increase in app traffic and a 400 basis point change in overall traffic.
- For fiscal year 2025, Shake Shack projects total revenue of approximately $1.45 billion and adjusted EBITDA between $210 million and $215 million. The company plans significant expansion in 2026, targeting 55 to 60 new company-operated shacks and 40 to 45 licensed shacks.
Oct 30, 2025, 12:00 PM
Shake Shack Reports Strong Q3 2025 Results and Provides Q4 and Full-Year Guidance
SHAK
Earnings
Guidance Update
New Projects/Investments
- Shake Shack reported strong Q3 2025 financial results, with total revenue increasing 15.9% to $367.4 million and same-shack sales growing 4.9%, driven by positive traffic.
- The company achieved a restaurant-level profit of $80.6 million (22.8% of Shack sales) and adjusted EBITDA of $54.1 million (14.7% of total revenue), despite mid-teens beef inflation.
- For Q4 2025, Shake Shack expects total revenue of $406 million to $412 million and low single-digit same-shack sales growth, with full-year 2025 total revenue projected at approximately $1.45 billion and adjusted EBITDA between $210 million and $215 million.
- Strategic initiatives include accelerating new shack openings (expecting 55 to 60 company-operated shacks in 2026), diversifying the supplier base to mitigate beef inflation, and investing in digital channels and a new loyalty platform for 2026.
- The company is addressing macro headwinds in key markets and leveraging app-based value promotions (e.g., "$1-3-5" offers) to drive traffic, while continuing premium culinary innovation.
Oct 30, 2025, 12:00 PM
Shake Shack Reports Strong Q3 2025 Results and Provides FY 2025 Guidance
SHAK
Earnings
Guidance Update
New Projects/Investments
- Shake Shack reported Q3 2025 total revenue of $367.4 million, a 15.9% year-over-year increase, with 4.9% positive same-shack sales growth and 1.3% positive traffic. Adjusted EBITDA grew 18.2% to $54.1 million, representing 14.7% of total revenue.
- For FY 2025, the company projects total revenue of approximately $1.45 billion (up approximately 16% year-over-year) and adjusted EBITDA of $210 to $215 million.
- The company plans significant unit expansion, targeting 55 to 60 new company-operated shacks and 40 to 45 new licensed shacks in 2026.
- Strategic initiatives include diversifying the supply chain to offset anticipated mid-teens beef inflation in H2 2025, investing in digital channels and new equipment, and launching a loyalty platform in 2026.
- Shake Shack demonstrated an agile response to intensifying macro headwinds in October, pivoting to in-app value platforms which led to an 85% increase in app traffic and over a 400 basis point improvement in overall traffic.
Oct 30, 2025, 12:00 PM
Shake Shack Announces Third Quarter 2025 Financial Results
SHAK
Earnings
Revenue Acceleration/Inflection
- Shake Shack reported total revenue of $367.4 million for the third quarter of 2025, representing a 15.9% increase compared to 2024.
- The company achieved net income of $13.7 million in Q3 2025, a significant improvement from a net loss of $11.1 million in the prior year, with diluted earnings per share of $0.30.
- System-wide sales grew by 15.4% to $571.5 million, and Same-Shack sales increased by 4.9% versus 2024.
- Adjusted EBITDA for the quarter was $54.1 million, an 18.2% increase over 2024.
Oct 30, 2025, 11:02 AM
Shake Shack Announces Third Quarter 2025 Financial Results
SHAK
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Shake Shack reported total revenue of $367.4 million for the third quarter of 2025, representing a 15.9% increase compared to the previous year.
- The company achieved net income of $13.7 million in Q3 2025, a significant improvement from a net loss of $11.1 million in 2024, with earnings of $0.30 per diluted share attributable to Shake Shack Inc..
- Operating income for the quarter was $18.5 million, contrasting with an operating loss of $18.0 million in the third quarter of 2024.
- Same-Shack sales grew by 4.9% and Adjusted EBITDA increased by 18.2% to $54.1 million in Q3 2025.
Oct 30, 2025, 11:00 AM
Shake Shack Announces Hawaii Expansion and 2025 Restaurant Opening Targets
SHAK
New Projects/Investments
Guidance Update
- Shake Shack is expanding into its 35th U.S. state with its first Hawaii location set to open on Oahu in 2027.
- This expansion is a partnership with Union MAK Corporation and will incorporate locally inspired flavors and artwork into its menu and store design.
- The company plans to open 80 to 85 new restaurants in 2025, including 45 company-operated locations, which expands its footprint beyond the previously targeted 450 domestic sites.
- Analysts maintain a positive outlook on Shake Shack's stock, anticipating significant potential upside.
Sep 19, 2025, 12:11 PM
Shake Shack Discusses FY 2025 Sales Drivers, Unit Growth, and Margin Expansion
SHAK
Revenue Acceleration/Inflection
New Projects/Investments
Product Launch
- Shake Shack is driving sales through a structured culinary roadmap with new LTOs (e.g., summer barbecue menu, Dubai Shake) and increased media investment, which began in August and continues into September 2025, showing desired outcomes.
- The company is accelerating unit growth with a solid pipeline planned through 2026 and deals already signed for 2027, supported by investments in its development team and improved unit economics, including a projected 10% reduction in build costs for FY 2025.
- Shake Shack is confident in achieving low single-digit comparable sales growth for FY 2025, with pricing contributing approximately 2%.
- Restaurant margin expansion is projected at 50 basis points over the next three years, primarily driven by supply chain optimization and operational improvements, such as a new labor model and the establishment of a kitchen testing facility in Atlanta.
Sep 3, 2025, 6:10 PM
Shake Shack reiterates 2025 guidance and outlines growth strategy
SHAK
Guidance Update
- CFO Katherine Fogarty reaffirmed 2025 guidance and the three-year outlook targeting low to high teens adjusted EBITDA growth, low-teens revenue and unit growth, and 50 bps of annual restaurant margin expansion in 2026-27.
- Management is accelerating unit growth, aiming for 45–50 new store openings in 2025—the largest in company history—by bolstering its development team; the 2026 pipeline is already oversubscribed.
- A more disciplined culinary calendar of 3–4 sandwich platforms per year plus expanded beverage and sides innovation (e.g., extended Black Truffle LTO and sold-out Dubai chocolate shake) is designed to drive traffic and improve mix.
- Margin expansion is underpinned by a bespoke labor model (delivering ~80 bps benefit), operational scorecards, and planned supply chain optimization, supporting a 22.5% restaurant margin target with 110 bps year-over-year gain in 2025.
Jun 11, 2025, 7:46 PM
Quarterly earnings call transcripts for Shake Shack.
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