Wingstop Q1 EPS 98c Beats 76c Estimate, Domestic Sales Up 21.6%

May 2, 2024, 11:52 AM

Wingstop has reported a significant increase in its first-quarter earnings, with a 21.6% rise in domestic same-store sales, primarily driven by transaction growth. The company's adjusted earnings per share (EPS) were 98 cents, surpassing estimates of 76 cents, against a comp store estimate of 11.8%. Despite the strong performance, Wingstop's stock experienced some volatility, initially rising 2% in pre-market trading on the earnings beat and updated guidance but later giving back some gains. The company has adjusted its growth guidance for 2024, now expecting domestic same-store sales to increase in the low double-digits.