Wingstop Inc. Reports Fiscal Second Quarter Financial Results
Wingstop (NASDAQ: WING) reported mixed fiscal Q2 2025 results with strong unit growth but slight domestic sales decline. The company achieved record 129 net new openings in Q2, marking 19.8% unit growth and fourth consecutive quarter of 100+ net new units. System-wide sales increased 13.9% to $1.3 billion, while total revenue grew 12.0% to $174.3 million.
Key financial metrics include domestic AUV increase to $2.1 million, though domestic same-store sales declined 1.9%. Net income decreased 2.6% to $26.8 million ($0.96/share). Digital sales reached 72.2% of system-wide sales. The board approved a dividend increase from $0.27 to $0.30 per share.
The company raised its 2025 global unit growth guidance to 17-18% from previous 16-17%, while maintaining other forecasts including 1% domestic same-store sales growth.
Wingstop (NASDAQ: WING) ha riportato risultati misti per il secondo trimestre fiscale 2025, con una forte crescita delle unit脿 ma un leggero calo delle vendite domestiche. La societ脿 ha raggiunto un record di 129 nuove aperture nette nel secondo trimestre, segnando una crescita del 19,8% delle unit脿 e il quarto trimestre consecutivo con oltre 100 nuove unit脿 nette. Le vendite a livello di sistema sono aumentate del 13,9% raggiungendo 1,3 miliardi di dollari, mentre i ricavi totali sono cresciuti del 12,0% a 174,3 milioni di dollari.
I principali indicatori finanziari includono un aumento dell'AUV domestico a 2,1 milioni di dollari, anche se le vendite a parit脿 di punti vendita domestici sono diminuite dell'1,9%. L'utile netto 猫 diminuito del 2,6% a 26,8 milioni di dollari (0,96 dollari per azione). Le vendite digitali hanno raggiunto il 72,2% delle vendite totali a livello di sistema. Il consiglio di amministrazione ha approvato un aumento del dividendo da 0,27 a 0,30 dollari per azione.
La societ脿 ha aumentato la previsione di crescita globale delle unit脿 per il 2025 al 17-18% rispetto al precedente 16-17%, mantenendo invariate le altre previsioni, incluso un aumento dell'1% delle vendite a parit脿 di punti vendita domestici.
Wingstop (NASDAQ: WING) report贸 resultados mixtos en el segundo trimestre fiscal de 2025 con un fuerte crecimiento de unidades pero una ligera disminuci贸n en las ventas dom茅sticas. La compa帽铆a alcanz贸 un r茅cord de 129 aperturas netas nuevas en el segundo trimestre, marcando un crecimiento del 19,8% en unidades y el cuarto trimestre consecutivo con m谩s de 100 unidades netas nuevas. Las ventas a nivel de sistema aumentaron un 13,9% hasta 1.300 millones de d贸lares, mientras que los ingresos totales crecieron un 12,0% hasta 174,3 millones de d贸lares.
Las m茅tricas financieras clave incluyen un aumento en el AUV dom茅stico a 2,1 millones de d贸lares, aunque las ventas comparables en tiendas dom茅sticas disminuyeron un 1,9%. La utilidad neta disminuy贸 un 2,6% a 26,8 millones de d贸lares (0,96 d贸lares por acci贸n). Las ventas digitales alcanzaron el 72,2% de las ventas totales del sistema. La junta aprob贸 un aumento en el dividendo de 0,27 a 0,30 d贸lares por acci贸n.
La compa帽铆a elev贸 su gu铆a de crecimiento global de unidades para 2025 a 17-18% desde el previo 16-17%, mientras mantiene otras previsiones, incluyendo un crecimiento del 1% en ventas comparables dom茅sticas.
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Wingstop (NASDAQ : WING) a publi茅 des r茅sultats mitig茅s pour le deuxi猫me trimestre fiscal 2025, avec une forte croissance des unit茅s mais une l茅g猫re baisse des ventes domestiques. La soci茅t茅 a r茅alis茅 un record de 129 nouvelles ouvertures nettes au deuxi猫me trimestre, marquant une croissance des unit茅s de 19,8 % et un quatri猫me trimestre cons茅cutif avec plus de 100 nouvelles unit茅s nettes. Les ventes 脿 l'茅chelle du syst猫me ont augment茅 de 13,9 % pour atteindre 1,3 milliard de dollars, tandis que le chiffre d'affaires total a progress茅 de 12,0 % pour atteindre 174,3 millions de dollars.
Les indicateurs financiers cl茅s incluent une augmentation de l'AUV domestique 脿 2,1 millions de dollars, bien que les ventes comparables des magasins domestiques aient diminu茅 de 1,9 %. Le b茅n茅fice net a diminu茅 de 2,6 % pour s'茅tablir 脿 26,8 millions de dollars (0,96 dollar par action). Les ventes num茅riques ont atteint 72,2 % des ventes totales du syst猫me. Le conseil d'administration a approuv茅 une augmentation du dividende de 0,27 脿 0,30 dollar par action.
La soci茅t茅 a relev茅 ses pr茅visions de croissance mondiale des unit茅s pour 2025 脿 17-18 % contre 16-17 % pr茅c茅demment, tout en maintenant les autres pr茅visions, y compris une croissance des ventes comparables domestiques de 1 %.
Wingstop (NASDAQ: WING) meldete gemischte Ergebnisse f眉r das zweite Fiskalquartal 2025 mit starkem Filialwachstum, aber leicht r眉ckl盲ufigen Inlandsums盲tzen. Das Unternehmen erreichte im zweiten Quartal rekordverd盲chtige 129 netto neue Er枚ffnungen, was einem Wachstum von 19,8% bei den Einheiten entspricht und das vierte Quartal in Folge mit 眉ber 100 netto neuen Einheiten markiert. Der Systemumsatz stieg um 13,9% auf 1,3 Milliarden US-Dollar, w盲hrend der Gesamtumsatz um 12,0% auf 174,3 Millionen US-Dollar wuchs.
Wichtige Finanzkennzahlen umfassen einen Anstieg des inl盲ndischen AUV auf 2,1 Millionen US-Dollar, obwohl die vergleichbaren Ums盲tze inl盲ndischer Filialen um 1,9% zur眉ckgingen. Der Nettogewinn sank um 2,6% auf 26,8 Millionen US-Dollar (0,96 US-Dollar pro Aktie). Der digitale Umsatz erreichte 72,2% des Systemumsatzes. Der Vorstand genehmigte eine Dividendenerh枚hung von 0,27 auf 0,30 US-Dollar pro Aktie.
Das Unternehmen hob seine Prognose f眉r das globale Filialwachstum 2025 von zuvor 16-17% auf 17-18% an und behielt dabei andere Prognosen bei, einschlie脽lich eines inl盲ndischen vergleichbaren Umsatzwachstums von 1%.
- Record 129 net new restaurant openings, delivering 19.8% unit growth
- System-wide sales increased 13.9% to $1.3 billion
- Digital sales increased to 72.2% of system-wide sales
- Domestic AUV increased to $2.1 million
- Board approved dividend increase from $0.27 to $0.30 per share
- Company raised global unit growth guidance to 17-18%
- Domestic same store sales decreased 1.9%
- Net income decreased 2.6% to $26.8 million
- Interest expense increased $3.3 million to $8.5 million due to increased debt
- SG&A expenses increased by $4.8 million to $32.9 million
Insights
Wingstop shows robust unit growth of 19.8% despite same-store sales dip, demonstrating strong restaurant economics driving expansion momentum.
Wingstop's Q2 results reveal a powerful development story that's overshadowing a minor same-store sales decline. The company achieved 129 net new openings in the quarter鈥攎arking their fourth consecutive quarter opening 100+ units鈥攁nd delivering an impressive 19.8% year-over-year unit growth. This acceleration has prompted management to raise their annual unit growth guidance from 16-17% to 17-18%, signaling confidence in their expansion pipeline.
The -1.9% same-store sales decrease isn't alarming when contextualized against the extremely difficult comparison to last year's +28.7% growth. More telling is that domestic AUV increased to $2.1 million, up from $2.0 million last year, indicating the brand's fundamental consumer appeal remains intact. Notably, company-owned locations actually grew same-store sales by 3.6%, suggesting potential operational opportunities for franchisees.
The brand's digital sales penetration increased to 72.2% of system-wide sales, continuing to distance Wingstop from competitors in the fast-casual segment where digital adoption typically ranges from 25-40%. This digital-first approach creates operational efficiencies while building a valuable first-party customer database.
Despite the sales deceleration, Wingstop demonstrated financial discipline with adjusted EBITDA increasing 14.3% to $59.2 million. The company's confidence is further reflected in the 11% dividend increase from $0.27 to $0.30 per share. Overall, these results suggest franchisees are experiencing strong unit economics, fueling the remarkable development momentum despite modest headwinds in comparable sales.
Wingstop delivers solid financial performance with 12% revenue growth and 14.3% EBITDA growth despite sales deceleration against tough comps.
Wingstop's financial results demonstrate the resilience of its business model despite facing tough year-over-year comparisons. Total revenue increased 12% to $174.3 million, primarily driven by royalty revenue growth from the 466 net new restaurants opened since last year. The system-wide sales growth of 13.9% to $1.3 billion reflects this robust unit expansion, even as domestic same-store sales declined 1.9% against a challenging prior-year comparison of +28.7%.
Profitability metrics show disciplined cost management. While net income decreased slightly by 2.6% to $26.8 million ($0.96 per diluted share), adjusted EBITDA grew 14.3% to $59.2 million, outpacing revenue growth and indicating improved operational leverage. The company's restaurant-level economics remain strong with company-owned restaurant cost of sales improving to 75.2% from 75.9% last year, driven by sales leverage on labor and operating expenses.
The balance sheet carries higher debt following the December 2024 securitization that added $500 million in debt, resulting in interest expense increasing to $8.5 million from $5.2 million. However, this increased leverage appears manageable given the strong cash flow generation, as evidenced by the 11% dividend increase to $0.30 per share.
Looking ahead, management's raised unit growth guidance (17-18%) while maintaining modest same-store sales expectations (+1% for 2025) suggests confidence in the expansion strategy even amid a normalized sales environment. The significant SG&A investment of $140 million for 2025, including $4.5 million in system implementation costs, indicates continued investment in infrastructure to support the aggressive growth trajectory.
Record 129 Net New Openings in Second Quarter,
Highlights for the fiscal second quarter 2025 compared to the fiscal second quarter 2024:
- System-wide sales increased
13.9% to$1.3 billion - 129 net new openings in the fiscal second quarter 2025
- Domestic restaurant AUV increased to
$2.1 million - Domestic same store sales decreased
1.9% - Digital sales increased to
72.2% of system-wide sales - Total revenue increased
12.0% to$174.3 million - Net income decreased
2.6% to$26.8 million $0.96 - Adjusted net income and adjusted earnings per diluted share, both non-GAAP measures, increased
1.6% to$27.9 million $1.00 - Adjusted EBITDA, a non-GAAP measure, increased
14.3% to$59.2 million
Adjusted EBITDA, adjusted net income, and adjusted earnings per diluted share are non-GAAP measures. A reconciliation of each of adjusted EBITDA, adjusted net income, and adjusted earnings per diluted share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in
"Our second quarter results showcase the strength of our unit economics and returns our brand partners are seeing for their businesses," said Michael Skipworth, President & Chief Executive Officer. "Our momentum in development continued in the second quarter, opening 129 net new units, delivering
Key operating metrics for the fiscal second quarter 2025 compared to the fiscal second quarter 2024:
Thirteen Weeks Ended | |||
June 28, 2025 | June 29, 2024 | ||
Number of system-wide restaurants open at end of period | 2,818 | 2,352 | |
Number of domestic franchise restaurants open at end of period | 2,357 | 1,988 | |
Number of international franchise restaurants open at end of period (1) | 407 | 312 | |
System-wide sales (in millions) | $听听听听听听听听听听听听听听听听听听听听听听听听听听 1,340 | $听听听听听听听听听听听听听听听听听听听听听听听听听听 1,176 | |
Domestic AUV (in thousands) | $听听听听听听听听听听听听听听听听听听听听听听听听听听 2,112 | $听听听听听听听听听听听听听听听听听听听听听听听听听听 2,032 | |
Domestic same store sales growth | (1.9)听% | 28.7听% | |
Company-owned domestic same store sales growth | 3.6听% | 14.1听% | |
Net income (in thousands) | $听听听听听听听听听听听听听听听听听听听听听听听 26,763 | $听听听听听听听听听听听听听听听听听听听听听听听 27,485 | |
Adjusted net income (in thousands) | $听听听听听听听听听听听听听听听听听听听听听听听 27,929 | $听听听听听听听听听听听听听听听听听听听听听听听 27,485 | |
Adjusted EBITDA (in thousands)听 | $听听听听听听听听听听听听听听听听听听听听听听听 59,205 | $听听听听听听听听听听听听听听听听听听听听听听听 51,778 | |
(1)听滨苍肠濒耻诲颈苍驳 | |||||||||||||||||||
听
Fiscal second quarter 2025 financial results
Total revenue for the fiscal second quarter 2025 increased to
Cost of sales was
Selling, general & administrative ("SG&A") expense increased
Depreciation and amortization increased
Interest expense, net increased
Financial Outlook
The Company is providing updated guidance for 2025:
- Global unit growth rate of
17% to18% , previously16% to17% , and; - Interest expense, net of approximately
$39 million $40 million
Additionally, the Company is reiterating the following guidance for 2025:
- Approximately
1% domestic same store sales growth; - SG&A of approximately
$140 million $4.5 million - Stock-based compensation expense of approximately
$26 million - Depreciation and amortization of between
$28 $29 million
Restaurant Development
As of June听28, 2025, there were 2,818 Wingstop restaurants system-wide. This included 2,411 restaurants in
Quarterly Dividend
In recognition of the Company's strong cash flow generation and our commitment to returning value to stockholders, on July听29, 2025, our board of directors approved an increase in the quarterly dividend payable to Wingstop stockholders from
The following definitions apply to these terms as used in this release:
Domestic average unit volume ("AUV") consists of the average annual sales of all restaurants that have been open for a trailing 52-week period or longer. This measure is calculated by dividing sales during the applicable period for all restaurants being measured by the number of restaurants being measured. Domestic AUV includes revenue from both company-owned and franchised restaurants. Domestic AUV allows management to assess our domestic company-owned and franchised restaurant economics. Changes in domestic AUV are primarily driven by increases in same store sales and are also influenced by opening new restaurants.
Domestic same store sales听reflects the change in year-over-year sales for the same store restaurant base. We define the same store restaurant base to include those restaurants open for at least 52 full weeks. This measure highlights the performance of existing restaurants, while excluding the impact of new restaurant openings and permanent closures. We review same store sales for domestic company-owned restaurants as well as system-wide domestic restaurants. Domestic same store sales growth is driven by increases in transactions and average transaction size. Transaction size increases are driven by price increases or favorable mix shift from either an increase in items purchased or shifts into higher priced items.
System-wide sales听represents net sales for all of our company-owned and franchised restaurants, as reported by franchisees. This measure allows management to better assess changes in our royalty revenue, our overall store performance, the health of our brand and the strength of our market position relative to competitors. Our system-wide sales growth is driven by new restaurant openings as well as increases in same store sales.
Adjusted EBITDA听is defined as net income before interest expense, net, income tax expense (benefit), and depreciation and amortization (EBITDA), further adjusted for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, and stock-based compensation expense.
Adjusted net income听is defined as net income adjusted for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, and related tax adjustments.
Adjusted earnings per diluted share听is defined as adjusted net income divided by weighted average diluted share count.
We caution investors that amounts presented in accordance with our definitions above may not be comparable to similar measures disclosed by our competitors because not all companies and analysts calculate certain non-GAAP measurements in the same manner.
Conference Call and Webcast
The Company will host a conference call today to discuss the fiscal second quarter 2025 financial results at 10:00 AM Eastern Time. The conference call can be joined telephonically by dialing 1-877-259-5243 or 1-412-317-5176 (international) and asking for the Wingstop conference call. A replay will be available two hours after the call and can be accessed by dialing 1-877-344-7529 or 1-412-317-0088 (international), then entering the replay code 5505341. The replay will be available through Wednesday, August 6, 2025.
The conference call will also be webcast live and later archived on the investor relations section of Wingstop's corporate website at ir.wingstop.com under the 'News & Events' section.
About Wingstop
Founded in 1994 and headquartered in
Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use non-GAAP financial measures, including those indicated above. By providing non-GAAP financial measures, together with a reconciliation to the most comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. These measures are not intended to be considered in isolation or as substitutes for, or superior to, financial measures prepared and presented in accordance with GAAP. The non-GAAP measures used in this press release may be different from the measures used by other companies. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release. In addition, the Current Report on Form 8-K furnished to the Securities and Exchange Commission (the "SEC") concurrent with the issuance of this press release includes a more detailed description of each of these non-GAAP financial measures, together with a discussion of the usefulness and purpose of such measures.
Forward-looking Statements
This news release includes statements of our expectations, intentions, plans and beliefs that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of our business strategies and our expectations concerning future operations, margins, profitability, trends, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "may," "will," "should," "expect," "intend," "plan," "outlook," "guidance," "anticipate," "believe," "think," "estimate," "seek," "predict," "can," "could," "project," "potential" or, in each case, their negative or other variations or comparable terminology, although not all forward-looking statements are accompanied by such terms. Examples of forward-looking statements in this news release include, but are not limited to, our 2025 fiscal year outlook for domestic same store sales growth, global unit growth, SG&A expense, stock-based compensation expense, interest expense, net and depreciation and amortization. These forward-looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties, risks, and factors relating to our operations and business environments, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by these forward-looking statements. Please refer to the risk factors discussed in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be found at the SEC's website . The discussion of these risks is specifically incorporated by reference into this news release.
When considering forward-looking statements in this news release or that we make in other reports or statements, you should keep in mind the cautionary statements in this news release and future reports we file with the SEC. New risks and uncertainties arise from time to time, and we cannot predict when they may arise or how they may affect us. Any forward-looking statement in this news release speaks only as of the date on which it was made. Except as required by law, we assume no obligation to update or revise any forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
Media Contact
Maddie Lupori
[email protected]
Investor Contact
Kristen Thomas
[email protected]
WINGSTOP INC. AND SUBSIDIARIES Consolidated Balance Sheets (amounts in thousands, except share and per share data) | |||
June 28, | December 28, | ||
(Unaudited) | |||
Assets | |||
Current assets | |||
Cash and cash equivalents | $听听听听听听听听听听听听听 227,943 | $听听听听听听听听听听听听听 315,910 | |
Restricted cash | 25,994 | 20,868 | |
Accounts receivable, net | 28,390 | 19,661 | |
Prepaid expenses and other current assets | 9,479 | 6,520 | |
Advertising fund assets, restricted | 21,034 | 32,659 | |
Total current assets | 312,840 | 395,618 | |
Property and equipment, net | 110,838 | 125,953 | |
Operating lease assets | 48,693 | 49,046 | |
Goodwill | 79,211 | 74,718 | |
Trademarks | 32,700 | 32,700 | |
Investments | 83,190 | 8,511 | |
Other non-current assets | 40,816 | 29,700 | |
Total assets | $听听听听听听听听听听听听听 708,288 | $听听听听听听听听听听听听听 716,246 | |
Liabilities and stockholders' deficit | |||
Current liabilities | |||
Accounts payable | $听听听听听听听听听听听听听听听听听 3,300 | $听听听听听听听听听听听听听听听听听 6,943 | |
Current portion of operating lease liabilities | 2,956 | 1,059 | |
Other current liabilities | 44,296 | 46,782 | |
Advertising fund liabilities | 21,034 | 32,659 | |
Total current liabilities | 71,586 | 87,443 | |
Long-term debt, net | 1,207,631 | 1,206,201 | |
Operating lease liabilities | 58,477 | 58,169 | |
Deferred revenues, net of current | 42,731 | 38,877 | |
Deferred income tax liabilities, net | 13,775 | 1,085 | |
Other non-current liabilities | 86 | 57 | |
Total liabilities | 1,394,286 | 1,391,832 | |
Commitments and contingencies | |||
Stockholders' deficit | |||
Common stock, | 279 | 287 | |
Additional paid-in-capital | 3,791 | 1,568 | |
Retained deficit | (697,557) | (676,940) | |
Accumulated other comprehensive income (loss) | 7,489 | (501) | |
Total stockholders' deficit | (685,998) | (675,586) | |
Total liabilities and stockholders' deficit | $听听听听听听听听听听听听听 708,288 | $听听听听听听听听听听听听听 716,246 | |
听
WINGSTOP INC. AND SUBSIDIARIES Consolidated Statements of Operations (amounts in thousands, except per share data) | |||
Thirteen Weeks Ended | |||
June 28, | June 29, | ||
(Unaudited) | (Unaudited) | ||
Revenue: | |||
Royalty revenue, franchise fees and other | $听听听听听听听听听听听听听听听 79,889 | $听听听听听听听听听听听听听听听 71,160 | |
Advertising fees | 61,962 | 54,654 | |
Company-owned restaurant sales | 32,478 | 29,885 | |
Total revenue | 174,329 | 155,699 | |
Costs and expenses: | |||
Cost of sales (1) | 24,405 | 22,673 | |
Advertising expenses | 65,533 | 58,548 | |
Selling, general and administrative | 32,937 | 28,097 | |
Depreciation and amortization | 6,220 | 5,161 | |
Total costs and expenses | 129,095 | 114,479 | |
Operating income | 45,234 | 41,220 | |
Interest expense, net | 8,469 | 5,200 | |
Investment income, net | 鈥� | (471) | |
Income before income tax expense | 36,765 | 36,491 | |
Income tax expense | 10,002 | 9,006 | |
Net income | $听听听听听听听听听听听听听听听 26,763 | $听听听听听听听听听听听听听听听 27,485 | |
Earnings per share | |||
Basic | $听听听听听听听听听听听听听听听听听听听 0.96 | $听听听听听听听听听听听听听听听听听听听 0.94 | |
Diluted | $听听听听听听听听听听听听听听听听听听听 0.96 | $听听听听听听听听听听听听听听听听听听听 0.93 | |
Weighted average shares outstanding | |||
Basic | 27,912 | 29,343 | |
Diluted | 27,997 | 29,457 | |
Dividends per share | $听听听听听听听听听听听听听听听听听听听 0.27 | $听听听听听听听听听听听听听听听听听听听 0.22 | |
(1) | Cost of sales includes all operating expenses of company-owned restaurants, including advertising expenses, but excludes depreciation and amortization, which are presented separately. | |||||||||||||||||||
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WINGSTOP INC. AND SUBSIDIARIES Unaudited Supplemental Information Cost of Sales Margin Analysis (amounts in thousands) | |||||||
Thirteen Weeks Ended | |||||||
June 28, 2025 | June 29, 2024 | ||||||
In dollars | As a % of | In dollars | As a % of | ||||
Cost of sales: | |||||||
Food, beverage and packaging costs | $听听听听听听听听听听听听 11,937 | 36.8听% | $听听听听听听听听听听听听 10,695 | 35.8听% | |||
Labor costs | 7,441 | 22.9听% | 6,987 | 23.4听% | |||
Other restaurant operating expenses | 5,821 | 17.9听% | 5,757 | 19.3听% | |||
Vendor rebates | (794) | (2.4)听% | (766) | (2.6)听% | |||
Total cost of sales | $听听听听听听听听听听听听 24,405 | 75.2听% | $听听听听听听听听听听听听 22,673 | 75.9听% | |||
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WINGSTOP INC. AND SUBSIDIARIES Unaudited Supplemental Information Restaurant Count | |||
Thirteen Weeks Ended | |||
June 28, | June 29, | ||
Domestic Franchised Activity | |||
Beginning of period | 2,250 | 1,924 | |
Openings | 110 | 65 | |
Closures | 鈥� | 鈥� | |
Acquired by Company | (3) | (1) | |
Restaurants end of period | 2,357 | 1,988 | |
Domestic Company-Owned Activity | |||
Beginning of period | 51 | 50 | |
Openings | 1 | 1 | |
Closures | (1) | 鈥� | |
Acquired by Company | 3 | 1 | |
Restaurants end of period | 54 | 52 | |
Total Domestic Restaurants | 2,411 | 2,040 | |
International Franchised Activity(1) | |||
Beginning of period | 388 | 305 | |
Openings | 21 | 10 | |
Closures | (2) | (3) | |
Restaurants end of period | 407 | 312 | |
Total System-wide Restaurants | 2,818 | 2,352 | |
(1)听Includes | |||||||||||||||||||
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WINGSTOP INC. AND SUBSIDIARIES Non-GAAP Financial Measures - EBITDA and Adjusted EBITDA | |||
(Unaudited) (amounts in thousands) 听 | |||
Thirteen Weeks Ended | |||
June 28, | June 29, | ||
Net income | $听听听听听听听听听听听听 26,763 | $听听听听听听听听听听听听 27,485 | |
Interest expense, net | 8,469 | 5,200 | |
Income tax expense | 10,002 | 9,006 | |
Depreciation and amortization | 6,220 | 5,161 | |
EBITDA | $听听听听听听听听听听听听 51,454 | $听听听听听听听听听听听听 46,852 | |
Additional adjustments: | |||
System implementation costs (a) | 1,534 | 鈥� | |
Stock-based compensation expense (b) | 6,217 | 4,926 | |
Adjusted EBITDA | $听听听听听听听听听听听听 59,205 | $听听听听听听听听听听听听 51,778 | |
(a) | System implementation costs represent non-recurring expenses incurred related to the development and implementation of new enterprise resource planning and human capital management technology, which are included in Selling, general and administrative on the Consolidated Statements of Operations. | |||||||||
(b) | Includes non-cash, stock-based compensation, net of forfeitures. | |||||||||
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WINGSTOP INC. AND SUBSIDIARIES | |||
Non-GAAP Financial Measures - Adjusted Net Income and Adjusted EPS (Unaudited) | |||
(amounts in thousands, except per share data) | |||
Thirteen Weeks Ended | |||
June 28, | June 29, | ||
Numerator: | |||
Net income | $听听听听听听听听听听听听听 26,763 | $听听听听听听听听听听听听听 27,485 | |
Adjustments: | |||
System implementation costs (a) | 1,534 | 鈥� | |
Tax effect of adjustments (b) | (368) | 鈥� | |
Adjusted net income | $听听听听听听听听听听听听听 27,929 | $听听听听听听听听听听听听听 27,485 | |
Denominator: | |||
Weighted-average shares outstanding - diluted | 27,997 | 29,457 | |
Adjusted earnings per diluted share | $听听听听听听听听听听听听听听听听听 1.00 | $听听听听听听听听听听听听听听听听听 0.93 | |
(a) | System implementation costs represent non-recurring expenses incurred related to the development and implementation of new enterprise resource planning and human capital management technology, which are included in Selling, general and administrative on the Consolidated Statements of Operations. | |||||||||
(b) | Represents the tax effect of the aforementioned adjustments to reflect corporate income taxes at an assumed effective tax rate of | |||||||||
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SOURCE Wingstop Restaurants Inc.
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