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Sep 30, 2023
European Wax Center Q3 2023 Earnings Report
Reported third quarter results with top-line, bottom-line and unit growth.
Key Takeaways
European Wax Center reported a 1.2% increase in total revenue to $55.7 million and a 2.4% increase in system-wide sales to $240.7 million. Net income decreased by 20.7% to $4.2 million, while Adjusted EBITDA increased by 3.4% to $19.3 million. The company updated its fiscal 2023 outlook to reflect lower-than-expected transactions.
Net new centers increased 12.6% to 1,026 total centers in 45 states.
System-wide sales of $240.7 million increased 2.4%.
Total revenue of $55.7 million increased 1.2%.
Same-store sales increased 3.4%.
Revenue by Segment
Forward Guidance
The Company updates its previous outlook for fiscal year 2023 as follows: New Center Openings, Net 98 to 100, System-Wide Sales $945 million to $955 million, Total Revenue $217 million to $219 million, Same-Store Sales 1.5% to 2.5%, Adjusted Net Income $20.5 million to $21.5 million, Adjusted EBITDA $74.5 million to $76.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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