Wingstop Q3 2023 Earnings Report
Key Takeaways
Wingstop Inc. reported strong financial results for the fiscal third quarter ended September 30, 2023, with a 26.5% increase in system-wide sales to $885.0 million and a 15.3% increase in domestic same-store sales. The company's net income rose by 46.0% to $19.5 million, or $0.65 per diluted share, and they updated their guidance for 2023 domestic same store sales growth to approximately 16%.
System-wide sales increased 26.5% to $885.0 million.
Domestic same store sales increased 15.3%.
Net income increased 46.0% to $19.5 million, or $0.65 per diluted share.
The company updated guidance for 2023 domestic same store sales growth to approximately 16%.
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 2023, which is a 52-week fiscal year:
Positive Outlook
- Approximately 16% domestic same store sales growth, previously 10% to 12%
- 240 to 250 global net new units
- Stock-based compensation expense of approximately $14.0 - $15.0 million
- Depreciation and amortization of between $14.0 - $15.0 million for 2023
Challenges Ahead
- SG&A of $94.5 - $95.5 million, previously $91.0 - $93.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income