Shake Shack reports Q3 2026 results

Item 2.02 Results of Operations and Financial Condition.

On November 5, 2026, Shake Shack Inc. (the "Company") issued a press release and shareholder letter announcing its financial results for the fiscal third quarter ended September 30, 2026.¹ The full text of the press release and shareholder letter are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure.

On November 5, 2026, in addition to issuing a press release, the Company issued a shareholder letter for its fiscal third quarter ended September 30, 2026 on its website at investor.shakeshack.com.² The shareholder letter is furnished as Exhibit 99.2 to this Current Report on Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number Exhibit Description

99.1

Press release dated November 5, 2026 announcing financial results for the fiscal third quarter ended September 30, 2026. (furnished only)

99.2

Shareholder letter dated November 5, 2026. (furnished only)

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Shake Shack Inc.

(Registrant)

By: /s/ Michelle Hook

Michelle Hook

Date: November 5, 2026 Chief Financial Officer

Shake Shack Announces Third Quarter 2026 Financial Results

▪ Total revenue of $423.3 million, up 15.2% versus 2025, including $408.0 million of Shack sales and $15.3 million of Licensing revenue.

▪ System-wide sales of $644.8 million, up 12.8% versus 2025.

▪ Same-Shack sales up 2.5% versus 2025.

▪ Operating income of $21.5 million versus $18.5 million in 2025.

• Restaurant-level profit (1) of $91.7 million, or 22.5% of Shack sales.

▪ Net income of $17.8 million versus $13.7 million in 2025.

• Adjusted EBITDA (1) of $62.8 million, up 16.0% versus 2025.

▪ Net income attributable to Shake Shack Inc. of $16.5 million, or earnings of $0.39 per diluted share.

• Adjusted pro forma net income (1) of $17.8 million, or earnings of $0.40 per fully exchanged and diluted share.

▪ Opened 21 new Company-operated Shacks and 16 new licensed Shacks.

NEW YORK, NY (Business Wire) — November 5, 2026 — Shake Shack Inc. ("Shake Shack" or the "Company") (NYSE: SHAK) has posted its results for the third quarter of 2026 in a Shareholder Letter in the Quarterly Results section of the Company's Investor Relations website, which can be found here: Q 3 2026 Shake Shack Shareholder Letter .

Shake Shack will host a conference call at 8:00 a.m. ET. Hosting the call will be Robert Lynch, Chief Executive Officer, and Michelle Hook, 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 November 12, 2026 by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671; the passcode is 13762370.

The live audio webcast of the conference call will be accessible in the Events & Presentations section on 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 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.

Exhibit 99.1

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, crinkle cut fries, crispy chicken, hand spun milkshakes, house-made lemonades, 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 team member 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 750 locations system-wide, including over 480 in 36 U.S. States and the District of Columbia, and nearly 270 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.

Media:

Corey Gee, Shake Shack

cblumenthal@shakeshack.com

Investor Relations:

Alison Sternberg, Shake Shack

Head of Investor Relations

(844) SHACK-04 (844-742-2504)

investor@shakeshack.com

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, opening fees, and termination 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, 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, 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 before interest expense (net of interest income), Income tax expense, and Depr