EarningsWetherspoon expects profits in line with current market expectations, helped by recent favourable weather.
Market PositionWith a low price position relative to other operators, and increased wages affecting the whole industry, Wetherspoon's is relatively better-placed to absorb the wage inflation and gain market share.
ValuationValuation remains undemanding relative to history, with shares pricing in a significant cut to EBITDA compared to pre-COVID valuation range.