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Jun 25, 2022
Wingstop Q2 2022 Earnings Report
Wingstop reported strong Q2 2022 financial results, driven by unit growth and resilient brand performance.
Key Takeaways
Wingstop Inc. announced financial results for the fiscal second quarter ended June 25, 2022, featuring a 7.5% increase in system-wide sales to $633.6 million and 67 net new openings. Total revenue increased 13.2% to $83.8 million, and net income rose 17.6% to $13.3 million, or $0.44 per diluted share. The company reiterated its full-year financial outlook, benefiting from deflation in bone-in wings and proven sales-driving strategies.
System-wide sales increased by 7.5% to $633.6 million.
The company achieved 67 net new restaurant openings.
Total revenue increased by 13.2% to $83.8 million.
Net income increased by 17.6% to $13.3 million, or $0.44 per diluted share.
Wingstop
Wingstop
Wingstop Revenue by Segment
Wingstop Revenue by Geographic Location
Revenue by Segment
Royalties & Fees Revenue
CapyFin.comAdvertising Fees Revenue
CapyFin.comCompany Restaurant Sales Revenue
CapyFin.comRevenue by Geographic Location
System-wide Sales Revenue
CapyFin.com Forward Guidance
The Company is reiterating guidance for 2022, which is a 53-week fiscal year, and updating its guidance for net system-wide restaurant openings from 220+ to between 220 and 235.
Positive Outlook
- 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
- Depreciation and amortization of between $10.5 - $11.5 million
- Net system-wide restaurant openings between 220 and 235
Challenges Ahead
- Interest expense of approximately $23.5 million
- Diluted earnings per share of between $1.55 to $1.57
- COVID-19 may affect sales and earnings
- Inflationary pressures may affect sales and earnings
- Competitive labor market and supply chain challenges may affect sales and earnings
Revenue & Expenses
Visualization of income flow from segment revenue to net income