Business
Wingstop Inc. Reports Fiscal Fourth Quarter Financial Results
Fueled by investments in technology, brand delivers 18th consecutive year of same store sales growth and another record year of new restaurant development
About this update from Wingstop Inc.
[{"type":"text","content":"Fueled by investments in technology, brand delivers 18th consecutive year of same store sales growth and another record year of new restaurant development\n\n\nDALLAS, Feb. 16, 2022 /PRNewswire/ -- Wingstop Inc. (NASDAQ: WING) today announced financial results for the fiscal fourth quarter ended December 25, 2021. \n\n \n \n \n \n \n \n\n \nHighlights for the fiscal fourth quarter 2021 compared to the fiscal fourth quarter 2020:\n58 net new openings in the fiscal fourth quarter 2021 Domestic same store sales increased 7.5% Two-year domestic same store sales increased 25.7% Domestic average unit volume (\"AUV\") increased to approximately $1.6 million System-wide sales increased 19.8% to $601.9 million Digital sales were 61.3% of sales, comparable to the prior fiscal fourth quarter Total revenue increased 13.8% to $72.0 million Net income increased to $6.9 million, or $0.23 per diluted share, compared to net loss of $6.4 million, or a loss of $0.21 per diluted share in the prior fiscal fourth quarter Adjusted EBITDA, a non-GAAP measure, was $20.2 million (inclusive of a $1.2 million accrual adjustment in the fourth quarter of fiscal year 2021 for incentive compensation driven by outperformance), an increase of 24.5%Highlights for the fiscal year 2021 compared to the fiscal year 2020:\nSystem-wide restaurant count increased 12.5% to 1,731 worldwide locations with 193 net openings System-wide sales increased 20.2% to $2.3 billion Domestic same store sales increased 8.0% Two-year domestic same store sales increased 29.4% Total revenue increased 13.5% to $282.5 million Net income increased to $42.7 million, or $1.42 per diluted share, compared to $23.3 million, or $0.78 per diluted share, in the prior fiscal year Adjusted EBITDA, a non-GAAP measure, increased 23.0% to $88.4 million EBITDA, adjusted EBITDA, adjusted net income, and adjusted earnings per diluted share are non-GAAP measures. Reconciliations of EBITDA, 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.\"\n\"Our fourth quarter and full year results reflect continued momentum in our brand, despite the chall...