Wingstop(WING)2024-10-30 12:00Sales 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]