NASDAQ$EWCZ
European Wax Center Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
European Wax Center reported third quarter results in line with revised expectations and reiterated fiscal year 2024 financial outlook while updating net new centers outlook.
European Wax Center's third quarter results aligned with revised expectations. System-wide sales decreased slightly, and total revenue also saw a minor decrease. The company is focused on driving new guests and ticket growth to enhance unit economics and financial returns for franchise partners.
- Net new centers increased 3.7% to 1,064 total centers in 45 states.
- System-wide sales decreased 0.2% to $240.2 million.
- Total revenue decreased 0.5% to $55.4 million.
- GAAP net income decreased 50.7% to $2.0 million.
Headline financials
Revenue & EPS history
European Wax Center · Revenue · Quarterly
$55.4M
Revenue by segment
European Wax Center · $55.7M total across 4 segments · Q3 2023
- Product Sales$31.9M+1.0%57.2%
- Royalty Fees$13.3M+2.0%24.0%
- Marketing Fees$7.55M+2.9%13.6%
- Other Revenue$2.93M-4.0%5.3%
Forward guidance
The Company reiterates its previous financial outlook for fiscal year 2024.
Tailwinds
- System-Wide Sales $930 million to $950 million
- Total Revenue $216 million to $221 million
- Same-Store Sales (1.5)% to 0.5%
- Adjusted Net Income $19 million to $22 million
- Adjusted EBITDA $70 million to $74 million
Headwinds
- The Company expects an additional 5 to 10 closures during the balance of the year, translating to 17 to 22 net new center openings compared to a previous outlook of 27 to 32 net new center openings.
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 Q3 2024
+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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