Wingstop (WING) came out with quarterly earnings of $0.88 per share, missing the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -9.28%. A quarter ago, it was expected that this restaurant chain would post earnings of $0.82 per share when it actually produced earnings of $0.93, delivering a surprise of 13.41%. Over the last four quarters, the compa ...

Sales Performance - System-wide sales increased 39.4% to $1.2 billion in Q3 2024 compared to Q3 2023[1] - Domestic same store sales grew 20.9% in Q3 2024, driven by transaction growth[1] - Digital sales accounted for 69.0% of system-wide sales in Q3 2024[1] - Domestic AUV increased to $2.1 million in Q3 2024 compared to $1.8 million in Q3 2023[3] - Company reiterates guidance of approximately 20% domestic same store sales growth for fiscal year 2024[9] Revenue and Profitability - Total revenue increased 38.8% to $162.5 million in Q3 2024 compared to Q3 2023[1] - Net income rose 31.9% to $25.7 million in Q3 2024 compared to Q3 2023[1] - Adjusted EBITDA increased 39.5% to $53.7 million in Q3 2024 compared to Q3 2023[1] - Total revenue for the thirteen weeks ended September 28, 2024, was $162.5 million, a 38.7% increase compared to $117.1 million in the same period last year[33] - Net income for the thirteen weeks ended September 28, 2024, was $25.7 million, a 31.9% increase compared to $19.5 million in the same period last year[33] - Adjusted EBITDA for the thirteen weeks ended September 28, 2024, was $53.7 million, a 39.5% increase compared to $38.5 million in the same period last year[39] - Earnings per share (diluted) for the thirteen weeks ended September 28, 2024, were $0.88, a 35.4% increase compared to $0.65 in the same period last year[33] Restaurant Growth and Expansion - Company opened 106 net new units in Q3 2024, representing 17.1% system-wide restaurant growth[1] - Company updates 2024 guidance to 320-330 global net new units, up from previous 285-300[10] - Domestic franchised restaurants increased by 76 to 2,064, while international franchised restaurants increased by 26 to 338, bringing the total system-wide restaurants to 2,458[37] Cost and Expenses - Cost of sales as a percentage of company-owned restaurant sales increased to 77.8% in the thirteen weeks ended September 28, 2024, compared to 73.6% in the same period last year[35] - Advertising fees for the thirteen weeks ended September 28, 2024, were $56.8 million, a 42.1% increase compared to $39.9 million in the same period last year[33] Financial Position - Total assets increased to $484.8 million as of September 28, 2024, compared to $377.8 million as of December 30, 2023[31] - Long-term debt remained relatively stable at $713.7 million as of September 28, 2024, compared to $712.3 million as of December 30, 2023[31] Company-Owned Restaurant Performance - Company-owned restaurant sales for the thirteen weeks ended September 28, 2024, were $31.3 million, a 30.8% increase compared to $23.9 million in the same period last year[33]

Financial Performance - Wingstop Inc. reported a 39.4% increase in system-wide sales, reaching $1.2 billion for the fiscal third quarter of 2024 compared to the same period in 2023 [1][3] - Total revenue rose by 38.8% to $162.5 million, up from $117.1 million in the previous year [3][29] - Net income increased by 31.9% to $25.7 million, translating to $0.88 per diluted share [1][29] - Adjusted EBITDA grew by 39.5% to $53.7 million [1][32] Sales and Growth Metrics - Domestic same store sales increased by 20.9%, driven primarily by transaction growth [1][3] - The average unit volume (AUV) for domestic restaurants rose to $2.1 million [1][2] - Digital sales accounted for 69.0% of system-wide sales [1] Restaurant Development - The company opened a record 106 net new restaurants in the third quarter, marking a 17.1% growth in system-wide restaurants year-over-year [1][8] - As of September 28, 2024, there were 2,458 Wingstop restaurants globally, including 2,064 in the U.S. [8][31] Cost and Expenses - Cost of sales increased to $24.4 million, representing 77.8% of company-owned restaurant sales, up from 73.6% in the prior year [4][30] - Selling, general, and administrative (SG&A) expenses rose by $9.2 million to $32.3 million, driven by performance-based compensation and increased headcount [5][30] Financial Outlook - The company reiterated guidance for approximately 20% domestic same store sales growth for fiscal year 2024 [7] - Updated guidance includes expectations for 320 to 330 global net new units and an increase in stock-based compensation expense to approximately $22.5 million [7] Shareholder Returns - The Board of Directors declared a quarterly dividend of $0.27 per share, totaling approximately $7.9 million, to be paid on December 6, 2024 [9] - During the fiscal third quarter, the company repurchased 93,617 shares at an average price of $373.68 per share [10]

NEW YORK and DALLAS, Oct. 24, 2024 /PRNewswire/ -- The National Basketball Association (NBA) and Wingstop (NASDAQ: WING) today announced a multiyear partnership making Wingstop the Official Chicken Partner of the NBA and NBA G League. The agreement marks Wingstop's first official partnership with a major U.S. professional sports league.As Wingstop continues to grow its footprint with more than 2,350 restaurants and counting, the supercharged flavor brand will leverage media exposure through virtual and cour ...

Wingstop (WING) closed the latest trading day at $373.56, indicating a -1.15% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.02%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.04%. Shares of the restaurant chain have depreciated by 8.43% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 3.68% and the S&P 500's gain of 3.77%. The upcoming earnings release ...

Wingstop (WING) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Individual inv ...

Wingstop (WING) closed the most recent trading day at $422.95, moving +0.49% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.01% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.08%. Shares of the restaurant chain witnessed a gain of 12.87% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 5.59% and the S&P 500's gain of 1.21%. Investors will be eagerly watching ...

100% of donations made at Wingstop restaurants will support St. Jude efforts to research and treat childhood cancer DALLAS, Sept. 30, 2024 /PRNewswire/ -- This October in honor of National Children's Health Day, Wingstop is launching a month-long initiative to benefit St. Jude Children's Research Hospital® to help make a difference in the lives of children everywhere with cancer and other life-threatening diseases. For the entire month of October, Wingstop fans can round up their checks on Wingstop.com or t ...

DALLAS, Sept. 25, 2024 /PRNewswire/ -- Wingstop Inc. (NASDAQ: WING) today announced that it will host a conference call and webcast to discuss its fiscal third quarter 2024 financial results on Wednesday, October 30, 2024 at 10:00 a.m. ET. A press release with fiscal third quarter 2024 financial results will be issued before the market opens that morning. The conference call can be joined telephonically by dialing 1-877-259-5243 or 1-412-317-5176 (international) and asking for the Wingstop conference call. ...

In the latest trading session, Wingstop (WING) closed at $426.86, marking a -0.25% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.25%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.56%. Shares of the restaurant chain have appreciated by 5.85% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 5.28% and the S&P 500's gain of 1.65%. Analysts and investors alike will be keep ...