What does Shake Shack do and what are its main business segments?

What guidance did Shake Shack's management provide for the next earnings period?

What is Shake Shack's latest dividend and current dividend yield?

What is the market's earnings forecast for Shake Shack next quarter?

What were the key takeaways from Shake Shack’s earnings call?

Did Shake Shack beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Shake Shack year over year?

What factors drove the changes in Shake Shack's revenue and profit?

- **Revenue & Profit Growth**: 15.4% revenue growth to $1.45 billion, 19.5% EBITDA expansion to $210 million, and 120 bps margin expansion.
- **Operational Efficiency**: 150 bps labor cost improvement, 40% team member tenure increase, and 6-minute wait time reduction.
- **Innovation Success**: $1/$3/$5 app promotion drove 50% app downloads, and Dubai Chocolate Shake/ onion rings core menu additions.
- **Expansion Momentum**: 85 new Shacks opened in 2025, 55-60 planned for 2026, and 26.4% licensed sales growth.
- **2026 Outlook**: Q1 same-Shack sales +4.3% YoY, targeting 3-5% Q1 growth and 50 bps annual margin expansion.

**【CEO Summary Section】**
- **Revenue Growth**: Total revenue increased 15.4% YoY to $1.45 billion, driven by 2.3% same-Shack sales growth and 85 new Shacks opened system-wide. Adjusted EBITDA rose 19.5% to $210 million.
- **Operational Excellence**: Restaurant-level margin expanded 120 bps to 22.6% through labor optimization (90%+ labor guide attainment) and supply chain savings. Wait times improved to under 6 minutes, and team member tenure increased 40% YoY.
- **Menu Innovation**: Successful launches of Dubai Chocolate Shake, onion rings (now core menu), and Korean-inspired menu items. App-based $1/$3/$5 promotions drove 50% app download growth.
- **Global Expansion**: Opened 45 company-operated Shacks in 2025 (e.g., Buffalo, Oklahoma City) with 2026 pipeline of 55-60 new Shacks. Licensed business grew 26.4% YoY, with 40 new openings in 2025.
- **2026 Outlook**: Focus on 6 priorities: leadership culture, operational efficiency, culinary innovation, unit economics, licensed growth, and strategic investments. Q1 2026 same-Shack sales +4.3% YoY despite weather headwinds.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Total revenue $400.5 million (+21.9% YoY), with $385.3 million in Shack sales (+21.7% YoY). Restaurant-level profit margin 22.7%, offsetting 12.7% food/paper cost inflation.
- **Cost Management**: Labor expenses improved 150 bps YoY to 25.4% of Shack sales. Preopening costs down 14% YoY, with $360.1 million cash on hand.
- **2026 Guidance**: Q1 revenue $366-370 million, same-Shack sales +3-5%, and 3% menu price increase. Full-year targets: low-teens revenue growth, 50 bps margin expansion, and low-to-high teens EBITDA growth.
- **Long-Term Leverage**: G&A to grow slower than sales post-2026, with 2027+ margin expansion from reduced capital spend.

**【Q&A Highlights】**
- **Kitchen Equipment**: New fryers reduced cold fries complaints from 30% to <10%. Optimized kitchen designs to roll out in 2027, targeting 6-minute wait time reduction.
- **Build Costs**: 20% YoY reduction in net build costs to <$2 million, with 2026 pipeline of 34 Shacks under construction.
- **Loyalty Program**: App downloads +50% YoY, with loyalty launch in late 2026. $1/$3/$5 promotions drove incremental traffic without margin dilution.
- **Northeast Challenges**: Weather headwinds in Q4 and Q1 2026, but 2026 development focused on non-Northeast markets (e.g., Midwest, Southwest) to diversify risk.
- **Commodity Risk**: Beef inflation mid-teens in 2025, mitigated by supplier diversification. 2026 inflation expected low single-digit with 3% menu price increase.

Shake Shack Inc. (SHAK) Q4 2025 Earnings Call Transcript

- **Revenue Growth Acceleration**: 15.9% YoY to $367.4M, driven by 4.9% same-store sales growth and 13 new Shacks.
- **Operational Efficiency**: Labor costs down 310bps, service time reduced to 5:50, and restaurant margin up 180bps to 22.8%.
- **Digital & Value Play**: App downloads +50%, 1,3,5 pricing strategy driving 85% traffic surge in Q4.
- **Supply Chain Resilience**: Mid-single digit food cost inflation offset by diversification and equipment savings.
- **2026 Growth Engine**: 55-60 new Shacks, loyalty program launch, and equipment-driven margin expansion.

**【CEO Summary Section】**
- Shake Shack achieved 15.9% year-over-year revenue growth to $367.4 million, driven by strong same-store sales growth of 4.9% and new Shack openings. 
- Operational efficiency improvements reduced labor costs by 310 basis points year-over-year, with average service time down to 5 minutes and 50 seconds.
- Culinary innovation (e.g., Dubai Chocolate Shake) and value platforms (1,3,5 pricing strategy) are driving traffic and check growth.
- Supply chain diversification and equipment investments are mitigating beef inflation through cost savings and efficiency gains.

**【CFO Financial Commentary】**
- Restaurant-level profit margin expanded 180 basis points to 22.8%, with adjusted EBITDA up 18.2% to $54.1 million.
- Food and paper costs as a percentage of sales stabilized at mid-single digits after mid-teens beef inflation, supported by supply chain strategies.
- G&A expenses increased 24.3% year-over-year to $44.4 million, reflecting marketing and talent investments in paid media and loyalty platform development.

**【Q&A Highlights】**
- **Supply Chain Resilience**: New suppliers and equipment innovations (e.g., fry holding technology) are reducing labor dependency while maintaining quality.
- **Digital Growth**: App downloads up 50% year-over-year, with in-app promotions driving 85% traffic growth in Q4.
- **Macroeconomic Adaptation**: Balancing premium innovation (French Onion Burger) with value offerings to offset D.C. and NYC macro pressures.
- **2026 Outlook**: 55-60 new Shacks planned, with focus on cost-saving equipment rollouts and loyalty program launch to drive frequency and retention.

Shake Shack Inc. (SHAK) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 total revenue $356.5M (+13.7% system-wide), with 1.8% same-Shack sales growth. July sales improved to 3.2%.
- **Margin Expansion**: Restaurant-level margin 23.9% (190 bps YoY), highest in 6 years. Adjusted EBITDA $58.9M (+24.8% YoY).
- **Strategic Moves**: Launched first paid media campaigns, opened 13 new Shacks, and introduced 18-month culinary calendar.
- **Operational Efficiency**: Labor costs down 270 bps YoY, with 2025 build cost reduction target of 10%.
- **Guidance**: Full-year adjusted EBITDA $210-220M, 80-90 system-wide openings, and low single-digit same-Shack sales growth.

**【CEO Summary Section】**
- **Q2 Performance**: Delivered 1.8% same-Shack sales growth, driven by culinary innovation (e.g., Dubai Chocolate Pistachio Shake) and operational improvements. July sales improved to 3.2% growth.
- **Culinary & Marketing**: Introduced paid media campaigns for the first time, testing Dubai Shake and Dollar Soda promotions. Media investments aim to drive traffic and frequency, with initial results showing strong check averages.
- **Expansion**: Opened 13 new domestic Shacks in Q2, on track for 45-50 openings in 2025. Notable expansion includes a cocktail-focused Shack at The Battery in Atlanta.
- **Labor Efficiency**: Achieved 270 basis point improvement in labor costs year-over-year, driven by new labor guides and operational excellence.
- **New Initiatives**: Launched a 18-month culinary calendar with 4 main platforms/year. Opened a second support center in Atlanta to enhance innovation and scalability.

**【CFO Financial Commentary】**
- **Revenue**: Total Q2 revenue $356.5M, up 13.7% system-wide. Company-operated sales grew 12.4% to $343.2M, with 1.8% same-Shack growth.
- **Margins**: Restaurant-level profit margin reached 23.9% (190 bps YoY improvement). Adjusted EBITDA $58.9M, up 24.8% YoY, highest on record.
- **Costs**: Food/paper costs 28.2% of sales (up 40 bps YoY due to beef inflation). Labor costs 25.7% (down 270 bps YoY). G&A guided to 11.5-12% of revenue.
- **Guidance**: Full-year adjusted EBITDA $210-220M (20-25% growth). Q3 same-Shack sales expected low single-digit growth. 2025 system-wide openings 80-90.

**【Q&A Highlights】**
- **Margin Expansion**: CFO noted 100-150 bps Q3 margin improvement YoY, driven by sales leverage and operational efficiency. Media investments not yet factored into guidance but expected to enhance growth.
- **Kitchen Innovation**: New equipment at The Battery Shack reduced wait times and improved throughput, with plans to roll out prototypes.
- **Traffic Trends**: July traffic improved sequentially, with July sales up 3.2%. Media campaigns for Dubai Shake and Dollar Soda showing early success.
- **Commodity Risk**: Beef costs up mid-teens YoY, but supply chain optimizations and menu mix offset inflation.
- **Long-Term Strategy**: 3-year targets include low-teens revenue growth, 50 bps annual margin expansion, and low-teens EBITDA growth. Focus on disciplined marketing, culinary innovation, and Shack openings.

Shake Shack (SHAK)-31 Jul 25-2025 Q2 Earnings call transcript

- **Record Growth**: 45-50 new Shacks in 2025 (highest on record) and 10%+ cost-to-build savings.
- **Profitability Boost**: 120bps margin expansion in Q1 (20.7% margin) with 50bps+ annual target for next 3 years.
- **Innovation Success**: Dubai Shake sold out within minutes, combo testing reduced order times by 30%, and Q2 comps expected to improve with new LTOs.
- **Resilience in Chaos**: +120bps margin expansion despite 400bps traffic headwinds, driven by labor productivity and supply chain efficiency.
- **Digital Momentum**: Social media influencers generated viral growth for Dubai Shake, with targeted loyalty programs for repeat visits.


**【CEO Strategic Overview】**
- **2025 Transformation Goals**: Aims to grow company-operated Shacks to 1,500+ units, with 45-50 openings in 2025 (highest on record). 
- **Operational Excellence**: Delivered 120bps restaurant-level margin expansion in Q1 (20.7% margin, highest since 2019) despite 4.6% traffic decline.
- **Culinary Innovation**: Launched successful Dubai Chocolate Pistachio Shake in 30+ Shacks, testing new drive-thru combo menus, and planning summer barbecue LTOs.
- **Cost Control**: Reduced operating expenses through agile labor models, waste reduction, and 10%+ cost-to-build savings.

**【CFO Financial Highlights】**
- **Q1 2025 Results**: 
  - Total Revenue: $320.9M (+10.5% YoY)
  - Restaurant-Level Profit: $64.2M (+17.3% YoY)
  - Adjusted EBITDA: $40.7M (+13.5% YoY)
- **Margin Guidance**: 2025 restaurant-level margin target of 22.5% (vs. prior 22%), with 50bps+ annual expansion for next 3 years.
- **Commodity Outlook**: 2-3% food cost inflation, 3% wage inflation, and $312.9M cash balance.

**【Q&A Key Takeaways】**
- **Traffic Drivers**: Dubai Shake LTO sold out within minutes, combo testing reduced order times by 30%, and Q2 comps expected to improve with new menu launches.
- **Macroeconomic Resilience**: Outperformed peers with +120bps margin expansion despite 400bps traffic headwinds, driven by labor productivity and supply chain efficiency.
- **Expansion Strategy**: 75% of new Shacks in high-growth Southeast/Southwest, with 50%+ of openings featuring drive-thrus.
- **Digital Engagement**: Leveraging social media influencers (e.g., Dubai Shake) to generate organic viral momentum, with targeted multi-visit loyalty programs.


Shake Shack (SHAK)-1 May 25-2025 Q1 Earnings call transcript

- **Record Q4 Growth**: 14.8% revenue rise, 22.7% restaurant margins, and 49% EBITDA surge highlight 2024 success.
- **Ambitious 2025 Targets**: 22%+ restaurant margins, 1,500+ U.S. Shacks, and $205M-$215M EBITDA driven by labor efficiency and menu innovation.
- **Resilient Sales**: Q1 same-Shack +3.7% YoY despite weather, signaling strong consumer demand.
- **Cost Control Excellence**: 80 basis points labor savings and flat food costs offset inflationary pressures.
- **Tech-Driven Expansion**: Atlanta kitchen lab and digital loyalty tools to accelerate growth and profitability.

**【CEO Summary Section】**
- **2024 Year-End Performance**: Q4 revenue grew 14.8% YoY, driven by 4.3% same-Shack sales and 43 new company-operated Shacks. Restaurant-level margins expanded 290 basis points to 22.7%, and adjusted EBITDA increased 49% YoY.
- **Long-Term Vision**: Targeting 1,500+ company-operated Shacks in the U.S., with 3-year financial goals of low-teens revenue growth, 22%+ restaurant-level margins, and EBITDA growth outpacing top-line metrics.
- **Strategic Priorities**: 
  1. **Culture & Leadership**: Shift Up program retained 100% of 2024 graduates, promoting 1/3 to manager roles. 2025 goal: 10% internal promotion increase.
  2. **Operations Optimization**: New labor model reduced labor costs by 80 basis points in Q4. Kitchen innovation lab to accelerate process testing.
  3. **Sales Growth**: 2024 same-Shack sales +3.6% despite macro headwinds. 2025 focus on menu innovation (e.g., Fish Sandwich in Hong Kong) and guest recognition tech.
  4. **Expansion**: 2024 licensed Shacks +33 to 250 global. 2025 target: 35-40 new licensed Shacks, including Delta in-flight partnerships.

**【CFO Financial Commentary】**
- **Q4 Financials**: 
  - Total revenue: $328.7M (+15% YoY)
  - Adjusted EBITDA: $46.7M (+49% YoY)
  - Free cash flow: $36M (record high)
- **Cost Management**: 
  - Food/paper costs flat YoY (mid-single-digit savings offset beef inflation)
  - Labor efficiency: 80 basis points benefit from new scheduling model
  - Supply chain savings offset 30 basis points of inflation
- **2025 Outlook**: 
  - Adjusted EBITDA: $205M-$215M (+17%-22% YoY)
  - Restaurant-level margins: ~22% (60 basis points expansion YoY)
  - Pricing: 2% in-Shack, 3% blended

**【Q&A Highlights】**
- **Margin Expansion**: 60 basis points of 2025 margin growth driven by labor efficiency and supply chain savings. Atlanta kitchen lab to accelerate innovation.
- **Sales Resilience**: Q1 same-Shack sales +3.7% YoY despite 150-200 basis points weather impact, showing strong underlying demand.
- **Loyalty Strategy**: Focus on targeted digital incentives vs. traditional points-based programs. 2025 testing of menu bundling and in-Shack recognition tech.
- **Commodity Risk**: 25%-30% of food basket exposed to beef price volatility. Diversified sourcing and new suppliers mitigate risk.
- **Licensing Growth**: 2025 target: 35-40 new licensed Shacks, with expansion into Israel, Malaysia, and U.S. airports.


Actual											0.02	-0.45	-0.11	-0.03	0.04	0.05	-0.05	-0.11	-0.19	0	-0.06	-0.06	-0.01	0.18	0.17	0.02	0.13	0.27	0.25	0.26	0.14	0.44	0.36	0.35
Forecast											-0.0059	-0.3611	-0.2146	-0.1138	-0.086	-0.0745	-0.0582	-0.1722	-0.2252	-0.0208	-0.0631	-0.1075	-0.0869	0.1091	0.0947	0.0066	0.0989	0.268	0.1944	0.2483	0.162	0.3753	0.3201	0.3448
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+438.98%	-24.62%	+48.74%	+73.64%	+146.51%	+167.11%	+14.09%	+36.12%	+15.63%	+100.00%	+4.91%	+44.19%	+88.49%	+64.99%	+79.51%	+203.03%	+31.45%	+0.75%	+28.60%	+4.71%	-13.58%	+17.24%	+12.46%	+1.51%

SHAK

SHAK fundamentals

SHAK Q4 2025 Earnings

Earnings Call

You can ask Aime

SHAK

SHAK fundamentals

SHAK Q4 2025 Earnings

Earnings Call

SHAK Earnings Call Summary for Q4/20258:00 AM on Feb 26, 2026

SHAK Earnings Call Summary for Q3/20258:00 AM on Oct 30, 2025

SHAK Earnings Call Summary for Q2/20258:00 AM on Jul 31, 2025

SHAK Earnings Call Summary for Q1/20258:00 AM on May 1, 2025

SHAK Earnings Call Summary for Q4/20248:00 AM on Feb 20, 2025

You can ask Aime