DALLAS- Wingstop Inc. (NASDAQ: WING) today announced financial results for the fiscal first quarter ended March 30, 2024.

Wingstop Logo (PRNewsfoto/Wingstop Restaurants Inc.)

Highlights for the fiscal first quarter 2024 compared to the fiscal first quarter 2023:

System-wide sales increased 36.8% to $1.1 billion

65 net new openings in the fiscal first quarter 2024

Domestic same store sales increased 21.6%

Domestic restaurant AUV increased to $1.9 million

Digital sales increased to 68.3% of system-wide sales

Total revenue increased 34.1% to $145.8 million

Net income increased 83.5% to $28.7 million, or $0.98 per diluted share

Adjusted net income and adjusted earnings per diluted share, both non-GAAP measures, increased 61.8% to $28.7 million, or $0.98 per diluted share

Adjusted EBITDA, a non-GAAP measure, increased 45.3% to $50.3 million

Adjusted EBITDA, adjusted net income, and adjusted earnings per diluted share are non-GAAP measures. Reconciliations 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 the United States ('GAAP') are set forth in the schedule accompanying this release. See 'Non-GAAP Financial Measures.'

'Our fiscal first quarter 2024 showcased the momentum behind the Wingstop brand and the continued strength of our strategies, delivering 21.6% domestic same-store sales growth driven almost entirely by transaction growth,' said Michael Skipworth, President & Chief Executive Officer. 'Our domestic AUV exceeded $1.9 million, further strengthening best-in-class returns for our brand partners and is strengthening our development pipeline, which gives us confidence in our ability to scale Wingstop into a Top 10 Global Restaurant Brand.'

Key operating metrics for the fiscal first quarter 2024 compared to the fiscal first quarter 2023:

See full release at: https://ir.wingstop.com/wingstop-inc-reports-fiscal-first-quarter-2024-financial-results/

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