Shake Shack Announces First Quarter 2024 Financial Results

5/2/24 7:00:00 AM ET

Restaurants

Consumer Discretionary

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Total revenue of $290.5 million, up 14.7% versus 2023, including $280.6 million of Shack sales and $9.9 million of Licensing revenue.
System-wide sales of $443.3 million, up 12.3% versus 2023.
Same-Shack sales up 1.6% versus 2023, with trends improving each month of the quarter. April SSS grew 4.9% year-over-year.
Operating income of $0.0 million, versus an operating loss of $3.2 million in 2023.
- Restaurant-level profit⁽¹⁾ of $54.7 million, or 19.5% of Shack sales.
Net income of $2.2 million versus a net loss of $1.6 million in 2023.
- Adjusted EBITDA⁽¹⁾ of $35.9 million, up 30.2% versus 2023.
Net income attributable to Shake Shack Inc. of $2.0 million, or earnings of $0.05 per diluted share.
- Adjusted pro forma net income⁽¹⁾ of $5.6 million, or earnings of $0.13 per fully exchanged and diluted share.
Opened four new Company-operated Shacks, including two drive-thrus. Opened four new licensed Shacks.

Shake Shack Inc. ("Shake Shack" or the "Company") (NYSE:SHAK) has posted its results for the first quarter of 2024 in a Shareholder Letter in the Quarterly Results section of the Company's Investor Relations website, which can be found here: Q1 2024 Shake Shack Shareholder Letter.

Shake Shack will host a conference call at 8:00 a.m. ET. Hosting the call will be Randy Garutti, Chief Executive Officer, and Katherine Fogertey, Chief Financial Officer. The conference call can be accessed live over the phone by dialing (877) 407-0792, or for international callers by dialing (201) 689-8263. A replay of the call will be available until May 09, 2024 by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671; the passcode is 13745222.

The live audio webcast of the conference call will be accessible in the Events & Presentations section of the Company's Investor Relations website at investor.shakeshack.com. An archived replay of the webcast will also be available shortly after the live event has concluded.

(1)

Restaurant-level profit, Adjusted EBITDA and Adjusted pro forma net income (loss) are non-GAAP measures. A reconciliation to the most directly comparable financial measures presented in accordance with GAAP is set forth in the schedules accompanying this release. See "Non-GAAP Financial Measures" below.

About Shake Shack

Shake Shack serves elevated versions of American classics using only the best ingredients. It's known for its delicious made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more. With its high-quality food at a great value, warm hospitality, and a commitment to crafting uplifting experiences, Shake Shack quickly became a cult-brand with widespread appeal. Shake Shack's purpose is to Stand For Something Good®, from its premium ingredients and employee development, to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC's Madison Square Park, the Company has expanded to over 520 locations system-wide, including over 335 in 33 U.S. States and the District of Columbia, and 185 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.

Skip the line with the Shack App, a mobile ordering app that lets you save time by ordering ahead! Guests can select their location, pick their food, choose a pickup time and their meal will be cooked-to-order and timed to arrival. Available on iOS and Android.

Definitions

The following definitions apply to these terms as used in this release:

"Shack sales" is defined as the aggregate sales of food, beverages, gift card breakage income and Shake Shack branded merchandise at Company-operated Shacks and excludes sales from licensed Shacks.

"System-wide sales" is an operating measure and consists of sales from Company-operated Shacks and licensed Shacks. The Company does not recognize the sales from licensed Shacks as revenue. Of these amounts, revenue is limited to licensing revenue based on a percentage of sales from licensed Shacks, as well as certain up-front fees, such as territory fees and opening fees.

"Same-Shack sales" represents Shack sales for the comparable Shack base, which is defined as the number of Company-operated Shacks open for 24 full fiscal months or longer. For consecutive days that Shacks were temporarily closed, the comparative period was also adjusted.

"Restaurant-level profit," a non-GAAP measure, also formerly referred to as Shack-level operating profit, is defined as Shack sales less Shack-level operating expenses including Food and paper costs, Labor and related expenses, Other operating expenses and Occupancy and related expenses.

"Restaurant-level profit margin," a non-GAAP measure, also formerly referred to as Shack-level operating profit margin, is defined as Shack sales less Shack-level operating expenses including Food and paper costs, Labor and related expenses, Other operating expenses and Occupancy and related expenses as a percentage of Shack sales.

"EBITDA," a non-GAAP measure, is defined as Net income (loss) before interest expense (net of interest income), Income tax expense (benefit), and Depreciation and amortization expense.

"Adjusted EBITDA," a non-GAAP measure, is defined as EBITDA (as defined above), excluding equity-based compensation expense, Impairment and loss on disposal of assets, amortization of cloud-based software implementation costs, as well as certain non-recurring items that the Company does not believe directly reflect its core operations and may not be indicative of the Company's recurring business operations.

"Adjusted pro forma net income," a non-GAAP measure, represents Net income (loss) attributable to Shake Shack Inc. assuming the full exchange of all outstanding SSE Holdings, LLC membership interests ("LLC Interests") for shares of Class A common stock, adjusted for certain non-recurring items that the Company does not believe are directly reflected to its core operations and may not be indicative of its recurring business operations.

SHAKE SHACK INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands, except share and per share amounts)

		March 27			December 27
		2024			2023
ASSETS
Current assets:
	Cash and cash equivalents	$	260,203		$	224,653
	Marketable securities		24,570			68,561
	Accounts receivable, net		14,458			16,847
	Inventories		5,073			5,404
	Prepaid expenses and other current assets		21,885			18,967
	Total current assets		326,189			334,432
Property and equipment, net of accumulated depreciation of $401,132 and $376,760, respectively			537,621			530,995
Operating lease assets			410,254			398,296
Deferred income taxes, net			329,956			326,208
Other assets			14,812			15,926
TOTAL ASSETS		$	1,618,832		$	1,605,857
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
	Accounts payable	$	15,163		$	22,273
	Accrued expenses		57,366			54,742
	Accrued wages and related liabilities		19,249			20,945
	Operating lease liabilities, current		50,780			49,004
	Other current liabilities		18,525			17,103
	Total current liabilities		161,083			164,067
Long-term debt			245,898			245,636
Long-term operating lease liabilities			476,704			464,533
Liabilities under tax receivable agreement, net of current portion			236,728			235,613
Other long-term liabilities			26,126			26,638
Total liabilities			1,146,539			1,136,487
Commitments and contingencies
Stockholders' equity:
	Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of March 27, 2024 and December 27, 2023.		—			—
	Class A common stock, $0.001 par value—200,000,000 shares authorized; 39,635,382 and 39,474,315 shares issued and outstanding as of March 27, 2024 and December 27, 2023, respectively.		40			39
	Class B common stock, $0.001 par value—35,000,000 shares authorized; 2,801,013 and 2,834,513 shares issued and outstanding as of March 27, 2024 and December 27, 2023, respectively.		3			3
	Additional paid-in capital		427,530			426,601
	Retained earnings		18,817			16,777
	Accumulated other comprehensive loss		(4	)		(3	)
	Total stockholders' equity attributable to Shake Shack Inc.		446,386			443,417
Non-controlling interests			25,907			25,953
Total equity			472,293			469,370
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,618,832		$	1,605,857

SHAKE SHACK INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(UNAUDITED)

(in thousands, except per share amounts)

		Thirteen Weeks Ended
		March 27 2024					March 29 2023
Shack sales		$	280,552		96.6	%	$	244,254		96.4	%
Licensing revenue			9,952		3.4	%		9,024		3.6	%
TOTAL REVENUE			290,504		100.0	%		253,278		100.0	%
Shack-level operating expenses⁽¹⁾:
	Food and paper costs		80,253		28.6	%		71,772		29.4	%
	Labor and related expenses		81,509		29.1	%		74,264		30.4	%
	Other operating expenses		41,856		14.9	%		34,936		14.3	%
	Occupancy and related expenses		22,188		7.9	%		18,583		7.6	%
General and administrative expenses			35,944		12.4	%		31,311		12.4	%
Depreciation and amortization expense			25,441		8.8	%		21,322		8.4	%
Pre-opening costs			2,753		0.9	%		3,557		1.4	%
Impairment and loss on disposal of assets			526		0.2	%		722		0.3	%
TOTAL EXPENSES			290,470		100.0	%		256,467		101.3	%
NET INCOME (LOSS) FROM OPERATIONS			34		—	%		(3,189	)	(1.3	)%
Other income, net			3,206		1.1	%		2,837		1.1	%
Interest expense			(508	)	(0.2	)%		(403	)	(0.2	)%
NET INCOME (LOSS) BEFORE INCOME TAXES			2,732		0.9	%		(755	)	(0.3	)%
Income tax expense			518		0.2	%		867		0.3	%
NET INCOME (LOSS)			2,214		0.8	%		(1,622	)	(0.6	)%
Less: Net income (loss) attributable to non-controlling interests			174		0.1	%		(88	)	—	%
NET INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC.		$	2,040		0.7	%	$	(1,534	)	(0.6	)%
Earnings (Loss) per share of Class A common stock:
	Basic	$	0.05				$	(0.04	)
	Diluted	$	0.05				$	(0.04	)
Weighted-average shares of Class A common stock outstanding:
	Basic		39,515					39,332
	Diluted		41,259					39,332

_______________
(1) As a percentage of Shack sales.

SHAKE SHACK INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(in thousands)

			Thirteen Weeks Ended
			March 27 2024			March 29 2023
OPERATING ACTIVITIES
Net income (loss) (including amounts attributable to non-controlling interests)			$	2,214		$	(1,622	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
	Depreciation and amortization expense			25,441			21,322
	Amortization of debt issuance costs			262			262
	Amortization of cloud computing asset			518			439
	Non-cash operating lease cost			18,490			16,075
	Equity-based compensation			3,642			3,802
	Deferred income taxes			(131	)		1,917
	Non-cash interest			(164	)		58
	Gain on sale of equity securities			—			(81	)
	Net amortization of discount on held-to-maturity securities			(370	)		—
	Impairment and loss on disposal of assets			526			722
	Changes in operating assets and liabilities:
		Accounts receivable		2,389			3,354
		Inventories		331			(210	)
		Prepaid expenses and other current assets		(2,757	)		(1,580	)
		Other assets		(650	)		(1,218	)
		Accounts payable		(3,760	)		(5,799	)
		Accrued expenses		2,027			(2,018	)
		Accrued wages and related liabilities		(1,696	)		1,068
		Other current liabilities		709			(2,389	)
		Operating lease liabilities		(17,213	)		(16,830	)
		Other long-term liabilities		857			2,548
NET CASH PROVIDED BY OPERATING ACTIVITIES				30,665			19,820
INVESTING ACTIVITIES
Purchases of property and equipment				(33,054	)		(34,326	)
Maturities of held-to-maturity marketable securities				44,361			—
Purchases of equity securities				—			(690	)
Sales of equity securities				—			81,478
NET CASH PROVIDED BY INVESTING ACTIVITIES				11,307			46,462
FINANCING ACTIVITIES
Payments on principal of finance leases				(910	)		(807	)
Distributions paid to non-controlling interest holders				(145	)		(49	)
Net proceeds from stock option exercises				474			113
Employee withholding taxes related to net settled equity awards				(5,840	)		(2,626	)
NET CASH USED IN FINANCING ACTIVITIES				(6,421	)		(3,369	)
Effect of exchange rate changes on cash and cash equivalents				(1	)		(4	)
INCREASE IN CASH AND CASH EQUIVALENTS				35,550			62,909
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD				224,653			230,521
CASH AND CASH EQUIVALENTS AT END OF PERIOD			$	260,203		$	293,430

SHAKE SHACK INC.

NON-GAAP FINANCIAL MEASURES

(UNAUDITED)

To supplement the consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company uses the following non-GAAP financial measures: Restaurant-level profit, Restaurant-level profit margin, EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted pro forma net income (loss) and adjusted pro forma earnings (loss) per fully exchanged and diluted share (collectively the "non-GAAP financial measures").

Restaurant-Level Profit

Restaurant-level profit, formerly referred to as Shack-level operating profit, is defined as Shack sales less Shack-level operating expenses including Food and paper costs, Labor and related expenses, Other operating expenses and Occupancy and related expenses.

How This Measure Is Useful

When used in conjunction with GAAP financial measures, Restaurant-level profit and Restaurant-level profit margin are supplemental measures of operating performance that the Company believes are useful measures to evaluate the performance and profitability of its Shacks. Additionally, Restaurant-level profit and Restaurant-level profit margin are key metrics used internally by management to develop internal budgets and forecasts, as well as assess the performance of its Shacks relative to budget and against prior periods. It is also used to evaluate employee compensation as it serves as a metric in certain performance-based employee bonus arrangements. The Company believes presentation of Restaurant-level profit and Restaurant-level profit margin provides investors with a supplemental view of its operating performance that can provide meaningful insights to the underlying operating performance of the Shacks, as these measures depict the operating results that are directly impacted by the Shacks and exclude items that may not be indicative of, or are unrelated to, the ongoing operations of the Shacks. It may also assist investors to evaluate the Company's performance relative to peers of various sizes and maturities and provides greater transparency with respect to how management evaluates the business, as well as the financial and operational decision-making.

Limitations of the Usefulness of this Measure

Restaurant-level profit and Restaurant-level profit margin may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of Restaurant-level profit and Restaurant-level profit margin is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Restaurant-level profit excludes certain costs, such as General and administrative expenses and Pre-opening costs, which are considered normal, recurring cash operating expenses and are essential to support the operation and development of the Company's Shacks. Therefore, this measure may not provide a complete understanding of the Company's operating results as a whole and Restaurant-level profit and Restaurant-level profit margin should be reviewed in conjunction with the Company's GAAP financial results.

A reconciliation of Restaurant-level profit to Income (loss) from operations, the most directly comparable GAAP financial measure, is set forth below.

		Thirteen Weeks Ended
(dollar amounts in thousands)		March 27 2024			March 29 2023
Income (loss) from operations		$	34		$	(3,189	)
Less:
	Licensing revenue		9,952			9,024
Add:
	General and administrative expenses		35,944			31,311
	Depreciation and amortization expense		25,441			21,322
	Pre-opening costs		2,753			3,557
	Impairment and loss on disposal of assets		526			722
Restaurant-level profit		$	54,746		$	44,699

Total revenue		$	290,504		$	253,278
Less: Licensing revenue			9,952			9,024
Shack sales		$	280,552		$	244,254

Restaurant-level profit margin⁽¹⁾			19.5	%		18.3	%

(1) As a percentage of Shack sales.

SHAKE SHACK INC.

NON-GAAP FINANCIAL MEASURES

(UNAUDITED)

EBITDA and Adjusted EBITDA

EBITDA, a non-GAAP measure, is defined as Net income (loss) before interest expense (net of interest income), Income tax expense (benefit) and Depreciation and amortization expense. Adjusted EBITDA, a non-GAAP measure, is defined as EBITDA (as defined above) excluding equity-based compensation expense, Impairment and loss on the disposal of assets, amortization of cloud-based software implementation costs, as well as certain non-recurring items that the Company does not believe directly reflect its core operations and may not be indicative of the Company's recurring business operations.

How These Measures Are Useful

When used in conjunction with GAAP financial measures, EBITDA and adjusted EBITDA are supplemental measures of operating performance that the Company believes are useful measures to facilitate comparisons to historical performance and competitors' operating results. Adjusted EBITDA is a key metric used internally by management to develop internal budgets and forecasts and also serves as a metric in its performance-based equity incentive programs and certain bonus arrangements. The Company believes presentation of EBITDA and adjusted EBITDA provides investors with a supplemental view of the Company's operating performance that facilitates analysis and comparisons of its ongoing business operations because they exclude items that may not be indicative of the Company's ongoing operating performance.

Limitations of the Usefulness of These Measures

EBITDA and adjusted EBITDA may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of EBITDA and adjusted EBITDA is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. EBITDA and adjusted EBITDA exclude certain normal recurring expenses. Therefore, these measures may not provide a complete understanding of the Company's performance and should be reviewed in conjunction with the GAAP financial measures.

A reconciliation of EBITDA and adjusted EBITDA to Net income (loss), the most directly comparable GAAP measure, is set forth below.

	Thirteen Weeks Ended
(dollar amounts in thousands)	March 27 2024			March 29 2023
Net income (loss)	$	2,214		$	(1,622	)
Depreciation and amortization expense		25,441			21,322
Interest expense, net		(27	)		403
Income tax expense		518			867
EBITDA	$	28,146		$	20,970

Equity-based compensation		3,642			3,802
Amortization of cloud-based software implementation costs		518			439
Impairment and loss on disposal of assets		526			722
Legal settlements⁽¹⁾		—			1,004
CEO transition costs		479			—
Restatement costs⁽²⁾		1,391			—
Other⁽³⁾		1,183			628
Adjusted EBITDA	$	35,885		$	27,565

Adjusted EBITDA margin⁽⁴⁾		12.4	%		10.9	%

(1) Expenses incurred to establish accruals related to the settlements of legal matters.
(2) Expenses incurred related to the restatement of prior periods in the 2023 Form 10-K.
(3) Expenses incurred for professional fees related to non-recurring matters.
(4) Calculated as a percentage of Total revenue, which was $290.5 million and $253.3 million for the thirteen weeks ended March 27, 2024 and March 29, 2023, respectively.

SHAKE SHACK INC.

NON-GAAP FINANCIAL MEASURES

(UNAUDITED)

Adjusted Pro Forma Net Income (Loss) and Adjusted Pro Forma Earnings (Loss) Per Fully Exchanged and Diluted Share

Adjusted pro forma net income (loss) represents Net income (loss) attributable to Shake Shack Inc. assuming the full exchange of all outstanding SSE Holdings, LLC membership interests ("LLC Interests") for shares of Class A common stock, adjusted for certain non-recurring items that the Company does not believe are directly related to its core operations and may not be indicative of recurring business operations. Adjusted pro forma earnings (loss) per fully exchanged and diluted share is calculated by dividing adjusted pro forma net income (loss) by the weighted-average shares of Class A common stock outstanding, assuming the full exchange of all outstanding LLC Interests, after giving effect to the dilutive effect of outstanding equity-based awards.

How These Measures Are Useful

When used in conjunction with GAAP financial measures, adjusted pro forma net income (loss) and adjusted pro forma earnings (loss) per fully exchanged and diluted share are supplemental measures of operating performance that the Company believes are useful measures to evaluate performance period over period and relative to its competitors. By assuming the full exchange of all outstanding LLC Interests, the Company believes these measures facilitate comparisons with other companies that have different organizational and tax structures, as well as comparisons period over period because it eliminates the effect of any changes in Net income (loss) attributable to Shake Shack Inc. driven by increases in its ownership of SSE Holdings, which are unrelated to the Company's operating performance, and excludes items that are non-recurring or may not be indicative of ongoing operating performance.

Limitations of the Usefulness of These Measures

Adjusted pro forma net income (loss) and adjusted pro forma earnings (loss) per fully exchanged and diluted share may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of adjusted pro forma net income (loss) and adjusted pro forma earnings (loss) per fully exchanged and diluted share should not be considered alternatives to Net income (loss) and earnings (loss) per share, as determined under GAAP. While these measures are useful in evaluating the Company's performance, it does not account for the earnings attributable to the non-controlling interest holders and therefore does not provide a complete understanding of the Net income (loss) attributable to Shake Shack Inc. Adjusted pro forma net income (loss) and adjusted pro forma earnings (loss) per fully exchanged and diluted share should be evaluated in conjunction with GAAP financial results.

A reconciliation of adjusted pro forma net income (loss) to Net income (loss) attributable to Shake Shack Inc., the most directly comparable GAAP measure, and the computation of adjusted pro forma earnings (loss) per fully exchanged and diluted share are set forth below.

			Thirteen Weeks Ended
(in thousands, except per share amounts)			March 27 2024		March 29 2023
Numerator:
	Net income (loss) attributable to Shake Shack Inc		$	2,040	$	(1,534	)
	Adjustments:
		Reallocation of Net income (loss) attributable to non-controlling interests from the assumed exchange of LLC Interests⁽¹⁾		174		(88	)
		Legal settlements		—		1,004
		Restatement costs⁽²⁾		1,391		—
		CEO transition costs		479		—
		Other⁽³⁾		1,183		628
		Tax impact of above adjustments⁽⁴⁾		356		(300	)
Adjusted pro forma net income (loss)			$	5,623	$	(290	)

Denominator:
	Weighted-average shares of Class A common stock outstanding—diluted			41,259		39,332
	Adjustments:
		Assumed exchange of LLC Interests for shares of Class A common stock⁽¹⁾		2,830		2,852
	Adjusted pro forma fully exchanged weighted-average shares of Class A common stock outstanding—diluted			44,089		42,184

Adjusted pro forma earnings (loss) per fully exchanged share—diluted			$	0.13	$	(0.01	)

		Thirteen Weeks Ended
		March 27 2024		March 29 2023
Earnings (loss) per share of Class A common stock—diluted		$	0.05	$	(0.04	)
	Non-GAAP adjustments⁽⁵⁾		0.08		0.03
Adjusted pro forma earnings (loss) per fully exchanged share—diluted		$	0.13	$	(0.01	)

(1)		Assumes the exchange of all outstanding LLC Interests for shares of Class A common stock, resulting in the elimination of the non-controlling interest and recognition of the net income (loss) attributable to non-controlling interests.
(2)		Expenses incurred related to the restatement of prior periods in the 2023 Form 10-K.
(3)		Expenses incurred for professional fees related to non-recurring matters.
(4)		Represents the tax effect of the aforementioned adjustments and pro forma adjustments to reflect corporate income taxes at assumed effective tax rates of 2.8% and 133.1% for the thirteen weeks ended March 27, 2024 and March 29, 2023, respectively. Amounts include provisions for U.S. federal income taxes, certain LLC entity-level taxes and foreign withholding taxes, assuming the highest statutory rates apportioned to each applicable state, local and foreign jurisdiction.
(5)		Represents the per share impact of non-GAAP adjustments for each period. Refer to the reconciliation of Adjusted pro forma net income (loss) above for additional information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501141578/en/

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Date	Price Target	Rating	Analyst
5/19/2025	$105.00	Buy → Hold	TD Cowen
4/9/2025	$155.00 → $125.00	Outperform	Oppenheimer
4/1/2025	$127.00	Hold → Buy	Loop Capital
3/26/2025	$95.00	Equal Weight	Wells Fargo
1/8/2025	$154.00	Hold → Buy	Gordon Haskett
1/7/2025	$125.00 → $159.00	Equal Weight → Overweight	Barclays
8/19/2024	$121.00 → $114.00	Overweight → Neutral	Piper Sandler
7/29/2024	$95.00	Overweight	CapitalOne

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Shake Shack Announces First Quarter 2025 Financial Results

Shake Shack to Announce First Quarter 2025 Financial Results on May 1, 2025

Shake Shack Announces Fourth Quarter and Fiscal Year 2024 Financial Results

$SHAK Leadership Updates

Live Leadership Updates

Shake Shack Expands Leadership Team with Key Executive Appointments

Shake Shack Names Justin Mennen as Chief Information and Technology Officer

Shake Shack Names Stephanie Sentell as Chief Operations Officer

$SHAK SEC Filings

SEC Form 144 filed by Shake Shack Inc.

SEC Form 144 filed by Shake Shack Inc.

SEC Form SCHEDULE 13G filed by Shake Shack Inc.

$SHAK Large Ownership Changes

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$SHAK Press Releases

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$SHAK Insider Trading

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SEC Form SC 13G/A filed by Shake Shack Inc. (Amendment)

SEC Form SC 13G/A filed by Shake Shack Inc. (Amendment)

SEC Form SC 13D/A filed by Shake Shack Inc. (Amendment)

Shake Shack to Participate in June Investor Conferences

Shake Shack and PENN Entertainment Team Up to Bring Popular Burger Brand to Ten PENN Properties

Shake Shack Sets Sights on Central America as Global Expansion Heats Up

Chief Executive Officer Lynch Robert covered exercise/tax liability with 6,011 shares, decreasing direct ownership by 11% to 48,093 units (SEC Form 4)

Chief Financial Officer Fogertey Katherine Irene sold $20,708 worth of shares (180 units at $115.04), decreasing direct ownership by 0.45% to 39,706 units (SEC Form 4)

Amendment: Chief Operations Officer Sentell Stephanie Ann was granted 2,947 shares, increasing direct ownership by 34% to 11,650 units (SEC Form 4)

$SHAK Analyst Ratings

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Shake Shack downgraded by TD Cowen with a new price target

Oppenheimer reiterated coverage on Shake Shack with a new price target

Shake Shack upgraded by Loop Capital with a new price target

Recent Analyst Ratings for
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Financials

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Large Ownership Changes

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