The earnings call reflects a strong performance by Shake Shack, with consistent sales growth, successful unit expansion, and effective cost management contributing to improved margins and profitability. Despite some challenges, including store closures and international market headwinds, the overall outlook remains positive with strategic initiatives in place to drive future growth.

Company Guidance

During Shake Shack's Q3 2024 earnings call, significant guidance was provided, highlighting several key metrics and strategic initiatives. The company reported its 15th consecutive quarter of positive Same-Shack sales growth at 4.4% and its ninth straight quarter of restaurant-level margin expansion, with adjusted EBITDA growing by 28% to $45.8 million. Shake Shack opened 17 new locations, contributing to a global footprint of over 550 Shacks, and aims to open approximately 75 Shacks in 2024 and 80 to 85 in 2025. The company also achieved a 14.7% increase in total revenue year-over-year to $316.9 million. For Q4 2024, Shake Shack anticipates restaurant-level margins to expand by 220 basis points, exceeding 2019 levels for the first time, and expects total revenue to reach $322.6 million to $327 million. Looking ahead, Shake Shack plans to continue leveraging its culinary innovation, strategic promotions, and operational enhancements to sustain its growth trajectory into 2025.

Consecutive Sales Growth and Margin Expansion

Shake Shack delivered its 15th consecutive positive quarter of Same-Shack sales growth and its ninth straight quarter of restaurant level margin expansion. Adjusted EBITDA grew 28% to $45.8 million.

Strong Unit Growth

Opened 17 new Shacks during Q3 2024, including 8 domestic company-operated and 9 licensed Shacks. Plans to open approximately 75 Shacks system-wide this year, with further acceleration to 80-85 next year.

Sales and Culinary Innovation

4.4% Same-Shack sales growth with positive traffic. Successful launch of innovative menu items like the Black Truffle Burger and strategic promotions like Chicken Sundays.

Profitability and Cost Management

Restaurant level margins expanded by 60 basis points, and adjusted EBITDA margins grew by 140 basis points. Operational efficiencies and supply chain improvements contributed to this growth.

Financial Performance

Total revenue grew by 14.7% year-over-year to $316.9 million. Record high total revenue and system-wide sales for the third quarter.

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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
Aug 02, 2018	2018 (Q2)	- / 0.29	0.2	45.00% (+0.09)	―	―
Nov 01, 2018	2018 (Q3)	- / 0.21	0.17	23.53% (+0.04)	―	―
Feb 25, 2019	2018 (Q4)	- / 0.06	0.1	-40.00% (-0.04)	―	―
May 02, 2019	2019 (Q1)	- / 0.13	0.15	-13.33% (-0.02)	―	―
Aug 05, 2019	2019 (Q2)	- / 0.27	0.29	-6.90% (-0.02)	―	―
Nov 04, 2019	2019 (Q3)	- / 0.26	0.21	23.81% (+0.05)	―	―
Feb 24, 2020	2019 (Q4)	- / 0.06	0.06	0.00% (0.00)	―	―
May 04, 2020	2020 (Q1)	- / 0.02	0.13	-84.62% (-0.11)	―	―
Jul 31, 2020	2020 (Q2)	- / -0.45	0.27	-266.67% (-0.72)	―	―
Oct 29, 2020	2020 (Q3)	- / -0.11	0.26	-142.31% (-0.37)	―	―

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
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%
Feb 15, 2024	$78.07	$98.40	+26.04%

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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