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Mar 26, 2022
Wingstop Q1 2022 Earnings Report
Wingstop reported fiscal first quarter financial results, with system-wide sales increasing and raising full year unit guidance.
Key Takeaways
Wingstop Inc. announced financial results for the fiscal first quarter ended March 26, 2022. System-wide sales increased 12.7% to $630.0 million and the company had 60 net new openings. Total revenue increased 7.8% to $76.2 million. The company is raising its net new unit guidance for the full year to 220+.
System-wide sales increased 12.7% to $630.0 million.
60 net new openings in the fiscal first quarter 2022, an increase of 13.4%.
Domestic same-store sales increased 1.2%.
Total revenue increased 7.8% to $76.2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is providing updated guidance for 2022, which is a 53-week fiscal year:
Positive Outlook
- 220+ net new units, which assumes no additional delays in supply chain availability.
- Low-single digit domestic same store sales growth.
- SG&A of between $70.0 - $72.0 million.
- Stock-based compensation expense of between $7.5 - $8.5 million.
- Diluted earnings per share of between $1.55 to $1.57.
Challenges Ahead
- The company's ability to achieve or maintain sales and earnings may be affected by COVID-19 related factors.
- The length of time that the pandemic continues.
- The inability of workers, including third party delivery drivers, to work due to illness, quarantine, or government mandates.
- Temporary store closures due to reduced workforces or government mandates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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