Wingstop's Q3 earnings call highlighted strong same-store sales growth, significant AUV improvements, aggressive restaurant development, and successful international expansion. The company also announced strategic partnerships and technological advancements. However, there are concerns about a potential slowdown in Q4 comps and increased SG&A expenses. Despite these challenges, the overall sentiment remains positive due to strong execution of growth strategies and record-setting performance.

Company Guidance

During the Wingstop Q3 2024 earnings call, substantial guidance was provided, reflecting the company's robust performance and strategic outlook. Michael Skipworth, the CEO, highlighted a 20.9% increase in domestic same-store sales, driven primarily by transaction growth, marking the company's 21st consecutive year of same-store sales growth. The average unit volume (AUV) surpassed $2.1 million, up from $2 million in the previous quarter, fueling confidence in reaching a long-term AUV target of $3 million. The company reported a remarkable unit growth rate of 17%, with over 100 new restaurant openings in the quarter, and adjusted its net new restaurant target to between 320 and 330 for 2024. Wingstop's international expansion is also on an upward trajectory, with plans to open over 750 restaurants across newly signed international markets. The company's supply chain strategy has successfully mitigated commodity price volatility, maintaining food costs in the mid-30% range, while digital sales now account for 69% of total sales. This strategic execution has led to a 39.4% increase in system-wide sales and a 39.5% rise in adjusted EBITDA, demonstrating strong financial health and positioning Wingstop for continued growth.

Record Same-Store Sales Growth

Domestic same-store sales growth was 20.9% for Q3, marking 21 consecutive years of growth. This was primarily driven by transaction growth.

Strong AUV Growth

The Average Unit Volume (AUV) for Wingstop restaurants increased to $2.1 million, up from $2 million last quarter and $1.8 million in the prior year quarter.

Significant Restaurant Development

Wingstop opened over 100 restaurants in Q3, achieving a unit growth rate of 17% and raising the net new restaurant target for 2024 to between 320 to 330.

Successful Supply Chain Strategy

Wingstop's strategy mitigated the volatility in wing prices, keeping food costs within the targeted range of mid-30% despite spot market inflation of nearly 200%.

International Expansion

Wingstop is expanding aggressively in international markets, including opening pop-up restaurants in France and new markets in Gulf Coast countries and Australia.

NBA Partnership

Wingstop announced a partnership with the NBA, becoming the official chicken partner and wing of the NBA, which is expected to boost brand awareness.

Digital Transformation

The launch of the MyWingstop tech stack improved order efficiency by 10% and increased digital sales mix to 69%, with a 35% increase in their first-party database.

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Wingstop (WING) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WING Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 02, 2018	2018 (Q2)	- / 0.23	0.18	27.78% (+0.05)	―	―
Oct 29, 2018	2018 (Q3)	- / 0.21	0.17	23.53% (+0.04)	―	―
Feb 27, 2019	2018 (Q4)	- / 0.15	0.17	-11.76% (-0.02)	―	―
May 07, 2019	2019 (Q1)	- / 0.22	0.25	-12.00% (-0.03)	―	―
Aug 01, 2019	2019 (Q2)	- / 0.17	0.23	-26.09% (-0.06)	―	―
Oct 30, 2019	2019 (Q3)	- / 0.20	0.21	-4.76% (>-0.01)	―	―
Feb 19, 2020	2019 (Q4)	- / 0.14	0.15	-6.67% (>-0.01)	―	―
May 06, 2020	2020 (Q1)	- / 0.27	0.22	22.73% (+0.05)	―	―
Jul 29, 2020	2020 (Q2)	- / 0.39	0.17	129.41% (+0.22)	―	―
Nov 02, 2020	2020 (Q3)	- / 0.34	0.2	70.00% (+0.14)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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WING Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2024	$368.64	$289.75	-21.40%
Jul 31, 2024	$376.00	$373.32	-0.71%
May 01, 2024	$383.99	$383.18	-0.21%
Feb 21, 2024	$323.60	$309.49	-4.36%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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