Shake Shack Q4 Adjusted EBITDA up 48% YoY; raises long-term Shack target to 1,500+

Shake Shack Inc.

2024-FY EPS reported $0.24 revenue$1,252,608,000

Preliminary Q4 total revenue $328.7M (+14.8% YoY); same-Shack sales +4.3%; restaurant margin 22.7% (highest Q4 since 2017).
Adjusted EBITDA $46.5M in Q4 (+48% YoY); FY24 Adjusted EBITDA $175.4M, record level.
Opened 43 company-operated Shacks in FY24 (record) and 33 licensed; new target of at least 1,500 company-operated Shacks (from 450).
FY2025 guidance: total revenue $1.45B–$1.48B (16–18% growth), restaurant margin ~22%, Adjusted EBITDA $200M–$210M.
Long-term target: AUV $2.8M–$4.0M, cash-on-cash returns 30%–33%, low-teens revenue growth over three years.

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