Filing Flows › Shake Shack (SHAK) › Q3 2026
Shake Shack (SHAK) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Shake Shack (SHAK) reported revenue of $423M for the third quarter 2026 (Q3 2026), +15% from a year earlier and +1% from the quarter before. Operating margin was 5.1%, net earnings $16.5M (3.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $423M | +1% | +15% |
| Operating profit | $21.5M | +4% | +16% |
| Net earnings | $16.5M | +5% | +32% |
| Operating cash flow | $70.6M | +24% | +12% |
| Free cash flow | $13.1M | — | -45% |
What changed
Revenue was $423.3M in Q3 2026, up 15% year over year and up 1% from the previous quarter. Shack sales was the largest line at 96% of revenue. Shack sales added $55.2M year over year (up 16%), 99% of the total change.
Operating profit was $21.5M, a 5.1% margin (unchanged year over year). Of the extra revenue versus Q3 2025, 5% reached operating profit, above the 5% margin then. Total costs grew 15% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $16.5M, up 32% year over year. The effective tax rate was 24.0%.
Operating cash flow was $70.6M (up 12% year over year), 397% of net income including minority interests. Non-cash charges added back $32.9M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $14.9M. Capital expenditures of $57.5M left free cash flow of $13.1M.
Questions
What was Shake Shack's revenue in the third quarter 2026?
Shake Shack (SHAK) reported revenue of $423M for the third quarter 2026 (Q3 2026), +15% from a year earlier and +1% from the quarter before.
Was Shake Shack profitable in the third quarter 2026?
Operating profit was $21.5M (5.1% of revenue) and net earnings $16.5M.
Source: Shake Shack 10-Q on SEC EDGAR.