Shake Shack (NYSE:SHAK) signaled a period of aggressive expansion and improving profitability, issuing an upbeat 2026 outlook that highlights its evolution from a cult favorite to a dominant global restaurant platform.
The New York-based burger chain, presenting at the 28th Annual ICR Conference on Monday, expects total revenue to climb to between $1.6 billion and $1.7 billion in 2026.
This follows a record 2025, where preliminary results showed total revenue reaching $1.45 billion.
The company’s growth engine remains set on a high gear, with plans to open up to 60 new company-operated locations and 45 licensed shacks in the coming year.
A key highlight of the update was the company's margin trajectory.
Shake Shack projected restaurant-level profit margins to expand to a range of 23% to 23.5% in 2026, up from the 22.6% expected for 2025.
This expansion aligns with management's long-term target of at least 50 basis points of margin improvement annually.
Same-shack sales for 2026 are forecasted to grow in the low-single digits (LSD%), maintaining the steady 2.3% growth momentum seen throughout 2025.
For 2025, Shake Shack expects to report net income between $50 million and $60 million, with adjusted EBITDA landing between $208 million and $212 million.
The company also expects adjusted EBITDA to jump to a range of $237 million to $245 million in 2026, reflecting the benefits of scale and continued operational efficiencies.