Filing Flows › Shake Shack (SHAK) › Q3 2026 › vs Q2 2026
Shake Shack (SHAK) Q3 2026 vs Q2 2026 (quarter over quarter)
Shake Shack's revenue rose $5.7M (+1%) from $418M in Q2 2026 to $423M in Q3 2026. The biggest changes: Shack sales +$4.6M (+1%); Licensing revenue +$1.1M (+8%). Operating margin 5.1% against 5.0% (+0.1 pts).
Shake Shack, Q3 2026: revenue $423M (+15% year over year), operating margin 5.1%, net earnings $16.5M, operating cash flow $70.6M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 5.1% | 5.0% | +0.1 pts |
| Net margin | 3.9% | 3.8% | +0.1 pts |
| Free cash flow margin | 3.1% | -0.2% | +3.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Shack sales | $408M | $403M | $4.6M | +1% |
| Licensing revenue | $15.2M | $14.2M | $1.1M | +8% |
| Revenue | $423M | $418M | $5.7M | +1% |
| Other income, net | $1.9M | $2.0M | −$157K | -8% |
| Operating profit | $21.5M | $20.7M | $736K | +4% |
| Costs & expenses | $402M | $397M | $4.9M | +1% |
| Pre-tax earnings | $23.4M | $22.8M | $579K | +3% |
| General & admin | $45.0M | $48.3M | −$3.3M | -7% |
| Other operating costs | $357M | $349M | $8.3M | +2% |
| Net earnings | $16.5M | $15.7M | $806K | +5% |
| Minority interests | $1.3M | $1.2M | $79K | +7% |
| Income tax | $5.6M | $5.9M | −$306K | -5% |
| Depreciation & amortization | $32.9M | $30.7M | $2.2M | +7% |
| Share-based compensation | $5.0M | $3.9M | $1.1M | +27% |
| Working capital & other | $16.2M | $6.7M | $9.5M | +143% |
| Operating cash flow | $70.6M | $57.0M | $13.6M | +24% |
| Free cash flow (OCF − capex) | $13.1M | −$736K | $13.8M | — |
| Capital expenditures | $57.5M | $57.7M | −$205K | -0.4% |
Questions
How much did Shake Shack's revenue grow quarter over quarter in Q3 2026?
Shake Shack's revenue rose $5.7M (+1%) from $418M in Q2 2026 to $423M in Q3 2026.
What drove Shake Shack's revenue change in Q3 2026?
Shack sales +$4.6M (+1%); Licensing revenue +$1.1M (+8%).