What factors drove the changes in Wingstop's revenue and profit?

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What is the revenue and EPS growth rate for Wingstop year over year?

What is Wingstop's gross profit margin?

What were the key takeaways from Wingstop’s earnings call?

What were the key takeaways from Wingstop's earnings call?

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What guidance did Wingstop's management provide for the next earnings period?

- **Revenue & Growth**: 19% unit growth (369 net new restaurants), system-wide sales up 13%, EBITDA +19%. 
- **Smart Kitchen Success**: 2,000+ restaurants with 10-minute service, Southwest comps +mid-single digits. 
- **Strategic Momentum**: India expansion for 1,000+ restaurants, loyalty program pilot success, and 2026 comps growth outlook. 
- **Financial Strength**: 70%+ cash-on-cash returns, $420M net income, $1.08 EPS. 
- **Capital Allocation**: $8.3M dividend, $140K shares repurchased, $151M buyback remaining. 


**【CEO Summary Section】**
- **Revenue Growth & Expansion**: Q3 2025 revenue grew 15% YoY, driven by 19% unit growth (369 net new restaurants). Global system-wide sales exceeded $5 billion, with 13% growth and 17% adjusted EBITDA expansion. 
- **Smart Kitchen Rollout**: Over 2,000 restaurants now use the Wingstop Smart Kitchen, achieving 10-minute speed of service (50% improvement), with Southwest region comps outperforming system average by mid-single digits. 
- **Strategic Initiatives**: New marketing campaign ('Wingstop Is Here') targets 2+ person occasions, loyalty program (Club Wingstop) pilot shows strong engagement, and India expansion agreement for over 1,000 restaurants. 
- **Challenges**: Q3 same-store sales declined 5.6% due to macro softness, but AUVs remain strong at $2.1 million with 70%+ cash-on-cash returns. 

**【CFO Financial Commentary】**
- **Financial Performance**: Q3 2025 GAAP net income $420M, Non-GAAP EPS $1.08 (15.6% YoY growth). Adjusted EBITDA $63.6M (19% YoY). 
- **Unit Economics**: Domestic AUVs $2.1M, 3.8% same-store sales growth for company-owned restaurants. Food cost stability (mid-30% range) and 300bps margin improvement. 
- **Capital Returns**: $8.3M quarterly dividend declared, $140K shares repurchased, with $151.3M remaining under buyback. 
- **Guidance**: 2025 unit growth 475-485 restaurants, 2026 comps expected to return to growth with Smart Kitchen, loyalty, and marketing execution. 

**【Q&A Highlights】**
- **Smart Kitchen Impact**: Southwest region with longest Smart Kitchen tenure shows mid-single-digit comp outperformance. Early Q4 trends stabilize, with dinner daypart growth. 
- **Loyalty & Marketing**: Club Wingstop pilot success, Q2 2026 national launch. New ad campaign broadens funnel, targeting 20% fair share of demand space. 
- **India Expansion**: Landmark agreement for over 1,000 restaurants, leveraging proven operator for market entry. 
- **Franchisee Confidence**: 70%+ cash-on-cash returns drive mid-teens 2026 unit growth, with pipeline supporting 10,000+ global restaurants. 


Wingstop Inc. (WING) Q3 2025 Earnings Call Transcript

- **Record unit growth**: 129 net new restaurants in Q2, raising 2025 guidance to 17-18% growth (435-460 units), fueled by 70% brand partner returns.
- **Smart Kitchen success**: 1,000 restaurants with 10-minute ticket times, 8-point guest satisfaction improvement, and mid-single-digit delivery growth without advertising.
- **Menu innovation boost**: Crispy tenders tripled new guest reactivation, driving 3.6% company-owned sales growth.
- **Profitability expansion**: 14.3% EBITDA growth to $59.2 million, $0.30 dividend increase, and 15%+ EBITDA growth outlook.
- **International expansion**: First Australian and Paris openings exceeded expectations, with 2025 international AUVs surpassing domestic averages.

**【CEO Summary Section】**
- **System-wide sales growth**: 13.9% to $1.3 billion, driven by 129 net new restaurants (highest quarterly openings in history). Same-store sales declined 1.9%, but lapping high prior-year growth rates.
- **Smart Kitchen adoption**: 1,000 restaurants now use the Wingstop Smart Kitchen, reducing average ticket times to 10 minutes and improving guest satisfaction scores by 8 points. Dallas-Fort Worth market shows 40% faster delivery times and mid-single-digit sales growth outperformance.
- **Menu innovation success**: Crispy Chicken tenders tripled new guest reactivation rates, with strong satisfaction scores and 3.6% same-store sales growth in company-owned restaurants.
- **International expansion**: Opened first restaurants in Australia and Paris, with AUVs surpassing domestic averages. 2025 unit growth guidance raised to 17-18% (435-460 net new units), fueled by 70% brand partner returns.

**【CFO Financial Commentary】**
- **Revenue growth**: Total revenue up 12% to $174.3 million, driven by 464 net franchise openings and 3.6% company-owned sales growth.
- **Cost efficiency**: Cost of sales as a percentage of company-owned sales improved 70 basis points to 75.2%, supported by supply chain stability (system food cost at 34%).
- **Profitability**: Adjusted EBITDA rose 14.3% to $59.2 million, with adjusted EPS of $1.00. Dividend increased to $0.30 per share, reflecting strong cash flow.
- **Guidance**: Reiterating 1% FY25 same-store sales growth and $140 million SG&A, with EBITDA growth exceeding 15%.

**【Q&A Highlights】**
- **Unit growth acceleration**: 2025 net openings (435-460) exceed 2023 full-year total, driven by 95% reinvestment from existing brand partners. Pipeline at record levels.
- **Smart Kitchen impact**: 4-week implementation shows 40% faster ticket times; DFW market sales outperform controls. Delivery channel growth in under-30-minute filters without advertising.
- **Loyalty program pilot**: Q4 launch with 2026 full rollout, leveraging MyWingstop data for personalized rewards and emotional brand connection.
- **Consumer trends**: Softness in lower-income and Hispanic segments, but Smart Kitchen and menu innovation expected to drive recovery as prior-year comps ease.
- **International momentum**: Sydney and Paris openings exceeded expectations, with plans for Italy and Netherlands. AUVs in new markets surpass domestic averages.

Wingstop (WING)-30 Jul 25-2025 Q2 Earnings call transcript

- **Record Unit Growth**: 126 Q1 openings and 16-17% 2025 guidance reflect franchisee confidence in 70%+ cash-on-cash returns.
- **Smart Kitchen Game Changer**: 200+ restaurants with 50%+ speed improvement, targeting full rollout by year-end.
- **Tender Sales Surge**: New Crispy Tenders driving record guest acquisition, pacing ahead of Chicken Sandwich metrics.
- **Adjusted EBITDA Expansion**: +18.4% to $59.5M, fueled by 15.7% system-wide sales growth.
- **Shareholder Returns**: $250M buyback, $0.27 dividend, and $92.5M UK transaction gain.

**【CEO Key Highlights】**
- **Resilient Q1 Performance**: Delivered 0.5% same-store sales growth despite challenging macro conditions, driven by 126 new unit openings and 72% digital sales penetration.
- **Smart Kitchen Innovation**: Rolled out to over 200 restaurants, cutting quote times in half and achieving 10-minute average ticket times. Target full rollout by year-end.
- **International Expansion**: Opened 126 global units in Q1, including record-breaking market entries in Kuwait and Puerto Rico. On track for 410-435 net units in 2025.
- **Tender Launch Momentum**: New Crispy Tenders drove record March guest acquisition, with sales pacing ahead of Chicken Sandwich launch metrics.

**【CFO Financial Summary】**
- **Topline Growth**: System-wide sales rose 15.7% to $1.3B, highest single-quarter volume in company history.
- **Profitability**: Adjusted EBITDA increased 18.4% to $59.5M, driven by 18.4% unit growth and 14% ad fund expansion.
- **Shareholder Returns**: Repurchased $250M of common stock and announced $0.27 dividend, reflecting 70%+ brand partner cash-on-cash returns.
- **UK Transaction Impact**: Recognized $92.5M gain from Lemon Pepper Holdings sale, reinvesting $75M in UK growth.

**【Q&A Key Takeaways】**
- **Macro Environment**: Consumer pullback concentrated in lower-income, Hispanic markets, similar to 2022 patterns. Q2 comps easing to +35.5% vs. Q1's +41%.
- **Smart Kitchen ROI**: Early results show 50%+ speed improvement, with Dallas-Fort Worth test restaurants outperforming control markets by 5%.
- **Franchisee Confidence**: 50+ brand partners opened units in Q1, with new restaurants pacing at $1.8M AUV vs. $1.2M three years ago.
- **China Strategy**: Maintaining long-term focus despite geopolitical headwinds, prioritizing India as near-term growth driver.
- **Loyalty Program**: Piloting Q4 2025 with 50M+ user database, targeting Gen Z/Millennials with experiential rewards.

Wingstop (WING)-30 Apr 25-2025 Q1 Earnings call transcript

- **2024 Record Year**: 19.9% same-store sales growth, $4.8B system-wide sales, and 44.8% EBITDA expansion highlight Wingstop's dominance in the restaurant industry.
- **Digital Transformation**: 70% digital sales mix and 50M+ customer database enable hyper-personalization, driving 38% YoY digital growth.
- **AI Kitchen Innovation**: Proprietary AI platform to reduce quote times and unlock demand, with full rollout in 2025.
- **2025 Growth**: 14-15% unit growth, low-mid single-digit comps, and 15% EBITDA expansion position Wingstop for long-term AUV target of $3M.
- **International Expansion**: $500M U.K. acquisition and 2-4 new markets in 2025 accelerate global unit count toward 10,000+.

**【CEO Summary Section】**
- **Record Growth in 2024**: Domestic same-store sales grew 19.9% (2-year stacked comp of 38%), with 349 net new restaurants and $4.8B system-wide sales. Adjusted EBITDA increased 44.8% to $212M.
- **Digital Dominance**: Digital sales mix reached 70%, with a 50M+ customer database driving 38% YoY growth. MyWingstop platform enabled hyper-personalization, boosting frequency and average check.
- **AI-Driven Kitchen Innovation**: Launched a proprietary AI-enabled kitchen platform to reduce quote times, improve team productivity, and unlock unmet demand. Expected rollout across all units in 2025.
- **Long-Term Targets**: AUVs to $3M (currently $2.1M) and 10,000+ global units (359 international locations as of Q4). 2025 unit growth guided at 14-15%.

**【CFO Financial Commentary】**
- **Q4 Financial Highlights**: System-wide sales $1.2B (+27.6%), adjusted EBITDA $56.3M (+44%). Full-year EPS $0.92 (+44%).
- **Cost Management**: Food costs stabilized at mid-30% range (vs. historical 500-600bps higher). SG&A as % of sales improved to 2.5%.
- **Capital Return**: $500M share buyback authorized, with $250M ASR executed. Dividend increased to $0.27/Q1.
- **2025 Outlook**: Low-mid single-digit same-store sales growth, 15% unit growth, and 15% EBITDA expansion.

**【Q&A Key Takeaways】**
- **2025 Comp Guidance**: Low-mid single-digit growth reflects tougher lap (20%+ comps in 2023/2024). Q1 2025 impacted by unseasonal weather but still on track.
- **Unit Economics**: 2024 restaurant openings generated $500M+ in annualized sales, with 95%+ reinvestment from existing franchisees.
- **International Expansion**: U.K. acquisition valued at $500M+; 2025 to enter 2-4 new international markets. Canada and U.K. leading international momentum.
- **CRM Success**: New guest retention rates at record highs, with 20%+ growth in heavy users. MyWingstop driving 50% YoY digital guest growth.


Wingstop Inc. (WING) Q4 2024 Earnings Call Transcript

- **Record Growth**: 20.9% domestic same-store sales growth, 39.4% system-wide sales growth, and 106 new stores opened in Q3.
- **AUV Milestone**: AUV surpasses $2.1 million, with a long-term target of $3.0 million.
- **International Expansion**: 750+ new units targeted in France, Gulf Coast, and Australia, plus NBA partnership for sports media presence.
- **Profitability**: 39.5% EBITDA growth to $53.7 million, with mid-30% food costs stabilized via supply chain strategy.
- **Shareholder Returns**: $0.27 quarterly dividend and $61M remaining in buyback program.
- **Pipeline Strength**: 70+ brand partners opening restaurants in 2024, with record development pipeline.


**【CEO Business Overview】**
- **Domestic Same-Store Sales Growth**: 20.9% YoY, driven by transaction growth, marking the 21st consecutive year of growth.
- **AUV Achievement**: Q3 AUV reached $2.1 million, up from $2.0 million last quarter and $1.8 million in the prior year, with a long-term target of $3.0 million.
- **New Store Development**: Opened 106 net new restaurants in Q3, exceeding the prior year's pace, with 95% of openings from existing brand partners.
- **International Expansion**: Launched in France with a pop-up restaurant and first Paris locations, targeting over 750 new units in emerging markets like France, Gulf Coast countries, and Australia.
- **Partnership with NBA**: Official chicken partner, enabling in-game presence and social content, enhancing brand visibility in sports media.
- **Technology Integration**: MyWingstop platform improved digital sales mix to 69%, with a 10% increase in order efficiency and 35% growth in first-party database.

**【CFO Financial Highlights】**
- **Revenue Growth**: Total revenue $162.5 million (+38.8% YoY), driven by 39.4% system-wide sales growth.
- **Profitability**: Adjusted EBITDA $53.7 million (+39.5% YoY), EPS $0.88 (+35.4% YoY).
- **Cost Control**: Food costs stabilized at mid-30% range due to supply chain strategy, brand partners seeing 300bps better than company restaurants.
- **Shareholder Returns**: $61.1 million remaining in $250M buyback program; $0.27 quarterly dividend approved.
- **Guidance Update**: Raised net new units to 320-330 (from 285-300), SG&A guidance to $117.5-118.5 million (+$2.5M in stock comp).

**【Q&A Key Themes】**
- **Comp Growth Sustainability**: 20% FY24 guidance maintained despite Q4 lapping high comps, citing multi-year strategy confidence.
- **Unit Growth Drivers**: Strong brand partner demand, 70+ partners opening restaurants in 2024, and pipeline at record levels.
- **International Momentum**: France pop-up generated 0.5M wings sold, U.K. AUVs over $3.0 million, and Gulf Coast expansion.
- **Cost Management**: Supply chain strategy mitigated 200%+ bone-in wing inflation, targeting mid-30% food costs into 2025.
- **Digital Engagement**: MyWingstop boosted app downloads and personalized content, with 69% digital sales mix.


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