Wingstop Q3 2024 Earnings Report
Key Takeaways
Wingstop Inc. reported strong fiscal third quarter 2024 financial results, marked by a 39.4% increase in system-wide sales to $1.2 billion and a 20.9% increase in domestic same store sales. The company opened a record 106 net new units, representing a 17.1% growth in system-wide restaurants. Total revenue increased by 38.8% to $162.5 million, and net income rose by 31.9% to $25.7 million, or $0.88 per diluted share.
System-wide sales increased 39.4% to $1.2 billion.
Opened 106 net new units, a 17.1% growth in system-wide restaurants.
Domestic restaurant AUV increased to $2.1 million.
Domestic same store sales increased 20.9%.
Wingstop
Wingstop
Wingstop Revenue by Segment
Wingstop Revenue by Geographic Location
Forward Guidance
The Company is reiterating guidance of approximately 20% domestic same store sales growth for fiscal year 2024. Additionally, based on year-to-date results, the Company is providing updated guidance for 2024:
Positive Outlook
- 320 to 330 global net new units, previously 285 to 300
- Stock-based compensation expense of approximately $22.5 million, previously $20 million
- SG&A expense of between $117.5 - $118.5 million, previously $114 - 116 million
- Depreciation and amortization of approximately $19 million, previously $18 - $19 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income