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Mar 30, 2024
Wingstop Q1 2024 Earnings Report
Wingstop's Q1 2024 performance was marked by significant growth in system-wide sales, same-store sales, and AUV, driven by transaction growth and strategic initiatives.
Key Takeaways
Wingstop Inc. reported strong financial results for the fiscal first quarter ended March 30, 2024, with a 36.8% increase in system-wide sales to $1.1 billion and a 21.6% increase in domestic same-store sales. The company's domestic AUV exceeded $1.9 million, and net income increased by 83.5% to $28.7 million.
System-wide sales increased by 36.8% reaching $1.1 billion.
Domestic same store sales grew by 21.6%.
Domestic restaurant AUV exceeded $1.9 million.
Net income increased 83.5% to $28.7 million, or $0.98 per diluted share.
Wingstop
Wingstop
Wingstop Revenue by Segment
Wingstop Revenue by Geographic Location
Forward Guidance
Based on year-to-date results, the Company is providing updated guidance for 2024.
Positive Outlook
- Low double digit domestic same store sales growth
- 275 to 295 global net new units
- SG&A expense of approximately $111 million
- Stock-based compensation expense of approximately $20 million
- Depreciation and amortization of between $18 - $19 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income