Filing Flows › Shake Shack (SHAK) › Q2 2026
Shake Shack (SHAK) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Shake Shack (SHAK) reported revenue of $418M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +14% from the quarter before. Operating margin was 5.0%, net earnings $15.7M (3.8% of revenue).
Shake Shack, Q2 2026: revenue $418M (+17% year over year), operating margin 5.0%, net earnings $15.7M, operating cash flow $57.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $418M | +14% | +17% |
| Operating profit | $20.7M | — | -7% |
| Net earnings | $15.7M | — | -9% |
| Operating cash flow | $57.0M | +571% | -12% |
What changed
Revenue was $417.6M in Q2 2026, up 17% year over year and up 14% from the previous quarter. Shack sales was the largest line at 97% of revenue. Shack sales added $60.2M year over year (up 18%), 98% of the total change. Initial territory, opening, and termination fees declined 1%.
Operating profit was $20.7M, a 5.0% margin (down 1.3 points year over year). Operating profit fell $1.6M even though revenue rose $61.2M versus Q2 2025, so costs grew faster than sales. Total costs grew 19% against revenue growth of 17%. The fastest-growing cost line was General & admin (+19%). Net earnings were $15.7M, down 9% year over year. The effective tax rate was 25.9%.
Operating cash flow was $57.0M (down 12% year over year), 337% of net income including minority interests. Non-cash charges added back $30.7M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items added $5.5M. Capital expenditures of $57.7M exceeded it, leaving free cash flow of −$736K.
Questions
What was Shake Shack's revenue in the second quarter 2026?
Shake Shack (SHAK) reported revenue of $418M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +14% from the quarter before.
Was Shake Shack profitable in the second quarter 2026?
Operating profit was $20.7M (5.0% of revenue) and net earnings $15.7M.
Source: Shake Shack 10-Q on SEC EDGAR.