Wingstop Inc · Q3 2022 earnings

Briefing

Wingstop's financial performance for Q3 2022 demonstrated strong growth and strategic execution.

Wingstop Inc. reported a system-wide sales increase of 17.7% to $699.6 million, driven by a 6.9% increase in domestic same store sales. The company opened 40 net new restaurants and saw total revenue rise by 40.9% to $92.7 million. Net income increased by 18.4% to $13.4 million, or $0.45 per diluted share, while adjusted EPS also reached $0.45.

• System-wide sales increased by 17.7% reaching $699.6 million.
• Domestic same store sales grew by 6.9%.
• Total revenue increased by 40.9% to $92.7 million.
• Net income increased by 18.4% to $13.4 million, with EPS at $0.45.

Headline financials

Revenue & EPS history

The Company is increasing guidance for diluted earnings per share to between $1.61 and $1.63, previously between $1.55 to $1.57. Additionally, the Company expects the following for the fiscal year ended December 31, 2022: •Low-single digit domestic same store sales growth; •Net system-wide restaurant openings of between 225 - 235, previously between 220 - 235 •SG&A of between $68.5 - $70.5 million, previously between $70.0 - $72.0 million; •Stock-based compensation expense of approximately $6.0 million, previously $7.5 - 8.5 million; •Depreciation and amortization of between $10.5 - $11.5 million; and •Interest expense of approximately $22.5 million, previously $23.5 million.