Wingstop Inc. Reports Fiscal Third Quarter 2020 Financial Results; Completes $480 Million Recapitalization and Declares Special Dividend of $5.00 Per Share

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[{"type":"text","content":"DALLAS, Nov. 2, 2020 /PRNewswire/ -- Wingstop Inc. (\"Wingstop\" or the \"Company\") (NASDAQ: WING) today announced financial results for the fiscal third quarter ended September 26, 2020 and announced that its Board of Directors has approved a special cash dividend of $5.00 per share, payable on December 3, 2020 to stockholders of record as of November 20, 2020 in conjunction with the completion of its previously announced $480 million recapitalization. \n\n \n \n \n \n \n \n\n \nHighlights for the fiscal third quarter 2020 compared to the fiscal third quarter 2019:\nSystem-wide sales increased 32.8% to $509.2 million 43 net new openings in the fiscal third quarter 2020 Domestic same store sales increased 25.4% Digital sales increased to 62.0% Total revenue increased 28.3% to $64.0 million Net income increased 70.7% to $10.1 million, or $0.34 per diluted share, compared to $5.9 million, or $0.20 per diluted share, in the prior fiscal third quarter Adjusted EBITDA*, a non-GAAP measure, increased 19.5% to $18.4 million * Adjusted EBITDA is a non-GAAP measure. A reconciliation of Adjusted EBITDA to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States (\"GAAP\") is set forth in the schedule accompanying this release. See \"Non-GAAP Financial Measures.\"\n\"The third quarter saw continued topline momentum with domestic same-store sales growth of 25.4%, 37.7% on a two-year basis, resulting in our restaurant average unit volumes now exceeding $1.4 million, further enhancing our best in class unit economics, which led to 43 net new restaurants and the strengthening of our development pipeline,\" commented Charlie Morrison, Chairman and Chief Executive Officer of Wingstop. \"The special dividend we announced today of $5.00 per share underscores the strength of our asset-lite, highly franchised model and our ability to return capital to stockholders. I would like to express my gratitude to our team members and brand partners for delivering these tremendous results.\"\nKey operating metrics for the fiscal third quarter 2020 compared to the fiscal third quarter 2019 \nThirteen Weeks Ended\nSeptember 26, 2020\nSeptember 28, 2019\nNumber of system-wide restaurants open at end of period\n1,479\n1,340\nNumber of domestic franchise restaurants open at end of pe...

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