Business
Wingstop Inc. Reports Fiscal Fourth Quarter and Full Year 2022 Financial Results
Delivers 19th Consecutive Year of Domestic Same Store Sales Growth and 13.2% Increase in Unit Count in Fiscal Year 2022 DALLAS, Feb. 22, 2023 /PRNewswire/ --
About this update from Wingstop Inc.
[{"type":"text","content":"Delivers 19th Consecutive Year of Domestic Same Store Sales Growth and 13.2% Increase in Unit Count in Fiscal Year 2022\nDALLAS, Feb. 22, 2023 /PRNewswire/ -- Wingstop Inc. (NASDAQ: WING) today announced financial results for the fiscal fourth quarter and fiscal year ended December 31, 2022, periods that benefited from a 53rd week as compared to fiscal 2021.\n\n \n \n \n \n \n \n\n \nHighlights for the fiscal fourth quarter 2022 compared to the fiscal fourth quarter 2021:\nSystem-wide sales increased 28.9% to $775.7 million61 net new openings in the fiscal fourth quarter 2022Domestic same store sales increased 8.7%Domestic restaurant AUV of $1.6 millionDigital sales of 63.2%, an increase of 1.9% to the prior fiscal fourth quarterTotal revenue increased 45.6% to $104.9 millionNet income increased 155.2% to $17.6 million, or $0.59 per diluted share, compared to net income of $6.9 million, or $0.23 per diluted share in the prior fiscal fourth quarterAdjusted EBITDA, a non-GAAP measure, increased 71.6% to $34.7 million, compared to adjusted EBITDA of $20.2 million in the prior fiscal fourth quarterHighlights for the fiscal year 2022 compared to the fiscal year 2021:\nSystem-wide sales increased 16.8% to $2.7 billionSystem-wide restaurant count increased 13.2% to 1,959 worldwide locations with 228 net openingsDomestic same store sales increased 3.4%Total revenue increased 26.6% to $357.5 millionNet income increased 24.1% to $52.9 million, or $1.77 per diluted share, compared to $42.7 million, or $1.42 per diluted share, in the prior fiscal year. Adjusted net income and adjusted earnings per diluted share, both non-GAAP measures, increased 37.3% to $55.4 million, or $1.85 per diluted share, compared to $40.3 million, or $1.35 per diluted share in the prior fiscal yearAdjusted EBITDA, a non-GAAP measure, increased 23.1% to $108.8 million, compared to adjusted EBITDA of $88.4 million in the prior fiscal yearAdjusted EBITDA, adjusted net income, adjusted earnings per diluted share, and cost of sales excluding pre-opening expenses are non-GAAP measures. Reconciliations of adjusted EBITDA, adjusted net income, adjusted earnings per diluted share, and cost of sales excluding pre-opening expenses to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States (\"GAA...