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Jun 28
Wingstop Q2 2025 Earnings Report
Wingstop reported steady revenue growth in Q2 2025 alongside record development activity.
Key Takeaways
Wingstop delivered solid Q2 2025 results with a 12% revenue increase, stable adjusted EPS, and significant unit expansion despite a modest dip in net income.
Total revenue for Q2 2025 increased to $174.3 million, up from $155.7 million in the prior year's second quarter.
Wingstop opened 129 net new restaurants in Q2 2025, achieving 19.8% net new unit growth, marking the fourth consecutive quarter with over 100 net new openings.
Domestic same store sales decreased by 1.9%, while company-owned domestic same store sales increased by 3.6%.
Adjusted EBITDA grew to $59.2 million, and adjusted net income was $27.9 million, with adjusted diluted EPS at $1.00.
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
Wingstop raised its unit growth forecast for 2025 while reaffirming other key guidance metrics.
Positive Outlook
- Raised 2025 global unit growth guidance to 17%-18%
- Reaffirmed 1% domestic same store sales growth target
- SG&A expected at $140M with system implementation investments included
- Stock-based compensation expense guidance reaffirmed at $26M
- Depreciation and amortization forecast maintained between $28M and $29M
Challenges Ahead
- Domestic same store sales declined 1.9% in Q2
- Interest expense increased due to $500M in additional debt
- Net income declined slightly YoY despite higher revenue
- Company faces rising SG&A costs due to expansion and system investments
- Domestic AUV growth was moderate despite unit expansion