DALLAS, Nov. 13, 2024 /PRNewswire/ -- Wingstop Inc. ("Wingstop" or the "Company") (NASDAQ: WING), today announced its intention to complete a securitized financing transaction, which will include a new series of securitized debt. The Company also expects to upsize the capacity of its variable funding note facility.The Company intends to issue $500 million of new securitized notes (the "Notes"), in addition to its existing Series 2022-1 and Series 2020-1 Fixed Rate Senior Notes. The Company intends to use th ...

ATLANTA, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Blaze Pizza, the recognized leader in fast-casual artisanal pizza, is firing up its growth engine thanks to a partnership with a multi-unit franchisee with extensive fast casual and quick service experience. Blaze Pizza’s latest development plan targets the Southern California market, covering Ventura, Santa Barbara, and the Upper San Fernando Valley—all areas west of Los Angeles. This five-unit agreement is with Red Phoenix Group, LLC, owned by Ray Luthra and his ...

Wingstop WING reported mixed third-quarter financial results on Wednesday.The company reported third-quarter earnings per share of 88 cents, missing the street view of 95 cents. Quarterly sales of $162.498 million beat the analyst consensus estimate of $161.535 million.The companydeclared a quarterly dividend of $0.27 per share of common stock, resulting in a total dividend of approximately $7.9 million. This dividend will be paid on December 6The company reaffirmed approximately 20% domestic same-store sal ...

Wingstop Inc. (NASDAQ: WING ), the restaurant chain known for its chicken wings, reported the company's Q3 results on the 30 th of October in pre-market hours. While Wingstop reported incredible growth, exceeding Wall Street's expectations, the stock reacted with a I am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced sec ...

Financial Data and Key Metrics Changes - Q3 domestic same-store sales growth was 20.9%, driven primarily by transaction growth, marking the potential for the 21st consecutive year of same-store sales growth [10][28] - Average unit volume (AUV) for restaurants surpassed $2.1 million, up from $2 million last quarter and $1.8 million in the prior year quarter [10][28] - Total revenue for the quarter increased 38.8% to $162.5 million, with royalty revenues and franchise fees increasing by $21.2 million [32][36] - Adjusted EBITDA was $53.7 million, a 39.5% increase year-over-year, with earnings per diluted share at $0.88, a 35.4% increase [36][38] Business Line Data and Key Metrics Changes - The average investment to open a Wingstop remains around $500,000, with brand partners seeing unlevered cash-on-cash returns exceeding 70% [11] - The company opened over 100 restaurants in Q3, achieving a unit growth rate of 17% [11][30] - Company-owned restaurant sales totaled $31.3 million, an increase of $7.4 million, driven by 10 net new restaurants and a 7.3% increase in same-store sales [32] Market Data and Key Metrics Changes - The international business is expanding, with a pop-up restaurant in France during the Olympics generating significant interest and leading to the opening of the first restaurants in Paris [23][24] - The company has a development pipeline that includes opportunities for over 750 restaurants across new international markets, including France and Australia [24][52] Company Strategy and Development Direction - The company aims to scale AUVs to $3 million, supported by strategies such as brand awareness, menu innovation, and digital transformation [13][20] - A new partnership with the NBA is expected to enhance brand visibility and drive guest acquisition [16][67] - The company is focused on responsible and sustainable growth, with a strong development pipeline and 95% of new openings coming from existing brand partners [31][84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term strategies and the ability to navigate potential deceleration in same-store sales growth [43][51] - The company reiterated guidance for domestic same-store sales growth of approximately 20% for the full year [39] - Management highlighted the effectiveness of the supply chain strategy in mitigating food cost volatility, targeting food costs in the mid-30% range [34][75] Other Important Information - The company announced a dividend of $0.27 per share, totaling approximately $7.9 million, to be paid on December 6, 2024 [38] - SG&A expenses increased by $9.2 million, primarily due to performance-based stock compensation and investments in headcount [35][39] Q&A Session Summary Question: Insights on Q4 comp trends and potential slowdown - Management acknowledged the potential for a deceleration in Q4 but emphasized long-term strategies and the overall health of the brand [43][51] Question: Unit growth expectations for 2025 - Management indicated strong demand for growth from brand partners and a robust development pipeline, suggesting continued growth beyond 2024 [47][84] Question: Clarification on international market opportunities - Management elaborated on the potential for over 750 restaurants in new markets, including France and Gulf Coast countries [52][24] Question: Impact of NBA partnership on brand awareness - Management highlighted the partnership's potential to enhance brand visibility and drive guest acquisition through various marketing channels [67][66] Question: Frequency of existing customers versus new customers - Management reported growth in both frequency of existing customers and new guest acquisition, contributing to overall sales growth [70][69] Question: Company-owned store margins and food costs - Management discussed the impact of supply chain strategies on food costs and the expectation of a slight decrease in Q4 [75][90]

The stock is still crushing the S&P 500 over the past year -- and it's not even close. Shares of restaurant chain Wingstop (WING -21.40%) absolutely plunged on Wednesday after the company reported financial results for the third quarter of 2024. As of 3 p.m. ET, Wingstop stock was down a painful 20%. Incredible growth, but profits not what investors expected The Q3 headline numbers were incredible for Wingstop. The company had nearly 2,400 locations at the end of the second quarter, but still added 106 more ...

Key Takeaways Wingstop shares hit their lowest point since February on Wednesday after the chain's third-quarter profits fell short of estimates. Same store sales also grew at a slower pace than expected, while Wingstop also lifted its estimate for new location openings this year. The chicken wing chain lifted its projections for expenses for the full fiscal year. Chicken wing prices and payroll expenses rose in the third quarter. Wingstop (WING) shares tumbled Wednesday after the chicken-wing chain's third ...

Wingstop (WING) reported $162.5 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 38.8%. EPS of $0.88 for the same period compares to $0.69 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $162.07 million, representing a surprise of +0.27%. The company delivered an EPS surprise of -9.28%, with the consensus EPS estimate being $0.97.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

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]