Top-line Momentum Continues With 13.1% Unit Growth Despite Macro Inflationary Challenges
DALLAS, TX (StLouisRestaurantReview) Wingstop Inc. (“Wingstop” or the “Company”) (NASDAQ: WING) today announced financial results for the fiscal third quarter ended September 25, 2021.
Highlights for the fiscal third quarter 2021 compared to the fiscal third quarter 2020:
- System-wide sales increased 16.7% to $594.3 million
- 49 net new openings in the fiscal third quarter 2021, an increase of 13.1%
- Domestic same-store sales increased 3.9%
- Domestic restaurant AUV of approximately $1.6 million
- Digital sales were 61.6% of sales, comparable to the prior fiscal third quarter
- Total revenue increased 2.8% to $65.8 million, which was impacted by a rebate of $6.9 million of advertising surplus that was returned to franchisees in the third quarter to partially offset the impact of record high wing inflation.
- Net income increased 12.0% to $11.3 million, or $0.38 per diluted share, compared to net income of $10.1 million, or $0.34 per diluted share in the prior fiscal third quarter.
- Adjusted net income and adjusted earnings per diluted share, both non-GAAP measures, were $8.6 million and $0.29 per diluted share, compared to $9.1 million and $0.31 per diluted share in the prior fiscal third quarter
- Adjusted EBITDA, a non-GAAP measure, increased 16.2% to $21.4 million
NOTE: This is NOT the complete release. These are only the highlights of the original release. Please refer to Wingstop website for the complete release.