NASDAQ$EWCZ
European Wax Center Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
European Wax Center reported second quarter results in line with expectations, reinforcing the strength and consistency of the business model.
European Wax Center, Inc. reported a 10.7% increase in total revenue to $59.1 million, a 10.0% increase in system-wide sales to $254.2 million, and a 175.4% increase in GAAP net income to $5.6 million compared to the prior year period. The company also achieved a milestone 1000th center opening and reiterated its fiscal year 2023 outlook.
- Net new centers increased 12.3% to 1,003 total centers in 45 states.
- System-wide sales increased 10.0% to $254.2 million.
- Total revenue increased 10.7% to $59.1 million.
- GAAP net income increased 175.4% to $5.6 million.
Headline financials
Revenue & EPS history
European Wax Center · Revenue · Quarterly
$59.1M
Revenue by segment
European Wax Center · $59.1M total across 4 segments · Q2 2023
- Product Sales$33.7M—57.1%
- Royalty Fees$14.1M—23.9%
- Marketing Fees$7.92M—13.4%
- Other Revenue$3.3M—5.6%
Forward guidance
The Company reiterates its previous outlook for fiscal year 2023.
Tailwinds
- New Center Openings, Net: 95 to 100
- System-Wide Sales: $965 million to $990 million
- Total Revenue: $222 million to $229 million
- Same-Store Sales: Mid-Single Digits
- Adjusted EBITDA: $77 million to $80 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2023
+0.5%
Avg return
Earnings day
+0.0%
Avg return
5 days after
-0.3%
Avg return
30 days after
53%
10 / 19 earnings
Positive
+22.1%
Q1 2026
Best reaction
-26.3%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +0.0% | +0.3% | +1.2% | |
| Q3 2026 | +14.3% | +0.3% | +11.2% | |
| Q2 2026 | +13.6% | +5.7% | -11.6% | |
| Q1 2026 | +22.1% | +39.6% | +44.9% | |
| Q4 2024 | -12.9% | -14.9% | -28.6% | |
| Q3 2024 | -26.3% | -26.3% | -24.6% | |
| Q2 2024 | -18.5% | -14.7% | +2.0% | |
| Q1 2024 | +0.7% | -0.8% | +6.8% | |
| Q4 2023 | +12.8% | +11.1% | -7.3% | |
| Q3 2023 | -15.9% | -17.0% | -6.0% | |
| Q2 2023 | +6.0% | -0.9% | -6.3% | |
| Q1 2023 | -9.1% | -3.2% | -7.0% | |
| Q4 2022 | -10.6% | -11.6% | +1.1% | |
| Q3 2022 | +0.6% | -2.9% | +2.0% | |
| Q2 2022 | -2.8% | -7.6% | -9.8% | |
| Q1 2022 | +5.5% | -10.9% | -3.2% | |
| Q4 2021 | +21.1% | +32.8% | +26.9% | |
| Q3 2021 | -0.8% | -9.2% | -13.3% | |
| Q2 2021 | +9.7% | +30.8% | +15.5% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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