Shake Shack presented a strong performance in 2024 with significant revenue growth, margin expansion, and strategic initiatives for future expansion. However, challenges such as weather impacts, commodity pressures, and a high investment phase in 2025 present potential obstacles. Despite these challenges, the company's strategic priorities and operational improvements reflect confidence in its growth trajectory.

Company Guidance

During Shake Shack's Fourth Quarter 2024 Earnings Call, the company outlined several key performance metrics and strategic goals. Fourth quarter revenue increased by 14.8%, driven by a 4.3% rise in same Shack sales, with restaurant-level margins expanding nearly 300 basis points to 22.7% and adjusted EBITDA growing by almost 50%. For the fiscal year 2025, Shake Shack aims for low teens total revenue growth, low teens unit growth, at least approximately 22% restaurant-level margins, and EBITDA growth in the low to mid-teens, outpacing top-line growth. The company has set a target of reaching 1,500 company-operated Shacks across the U.S. and aims to increase internal promotions by 10% in 2025. Additional strategic priorities include optimizing restaurant operations with a new scorecard system that focuses on improving key performance indicators like staffing, retention, speed of service, and profit. The company plans to leverage its supply chain to offset inflationary pressures and to drive comp sales by increasing guest frequency through marketing and culinary innovation. Shake Shack also plans to continue expanding its licensed business, with a goal of opening 35 to 40 new licensed Shacks in 2025. The company ended 2024 with $320.7 million in cash and generated a record $36 million in free cash flow.

Strong Revenue Growth

Fourth quarter revenue increased by 14.8%, driven by 4.3% same Shack sales growth.

Record Restaurant-Level Margins

Restaurant-level margins expanded nearly 300 basis points to 22.7%, and adjusted EBITDA grew almost 50%.

Expansion and Strategic Growth

Shake Shack aims to expand to at least 1,500 company-operated Shacks, more than four times its current size of 329.

Operational Improvements

Introduced a new labor model and efficiency measures, resulting in an 80 basis point labor cost improvement in Q4.

Successful Marketing and Innovation

Increased brand awareness with campaigns like 'Worth It' and culinary innovations like the Black Truffle menu.

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Shake Shack (SHAK) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SHAK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 01, 2025	2025 (Q1)	0.17 / -	0.13	―	―	―
Feb 20, 2025	2024 (Q4)	0.25 / 0.26	0.02	1200.00% (+0.24)	―
Oct 30, 2024	2024 (Q3)	0.19 / 0.25	0.17	47.06% (+0.08)	―
Aug 01, 2024	2024 (Q2)	0.27 / 0.27	0.18	50.00% (+0.09)	―
May 02, 2024	2024 (Q1)	0.10 / 0.13	-0.01	1400.00% (+0.14)	―
Feb 15, 2024	2023 (Q4)	<0.01 / 0.02	-0.06	133.33% (+0.08)	―
Nov 02, 2023	2023 (Q3)	0.10 / 0.17	-0.06	383.33% (+0.23)	―
Aug 03, 2023	2023 (Q2)	0.11 / 0.18	0	―
May 04, 2023	2023 (Q1)	-0.09 / -0.01	-0.19	94.74% (+0.18)	―
Feb 16, 2023	2022 (Q4)	-0.11 / -0.06	-0.11	45.45% (+0.05)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SHAK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 20, 2025	$111.23	$123.61	+11.13%
Oct 30, 2024	$113.62	$122.47	+7.79%
Aug 01, 2024	$87.62	$102.41	+16.88%
May 02, 2024	$103.33	$104.94	+1.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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