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Wingstop Shares Soar as Sales Continue to Sizzle

WING beat EPS and revenue estimates in Q2

Wingstop (NASDAQ:WING) stock was on the rise Friday following the release of its earnings report for the second quarter of 2018.

Wingstop Shares Soar as Sales Continue to Sizzle
Source: Shutterstock

The good news for WING stock starts with revenue of $37.04 million for the second quarter of the year. This is an increase from Wingstop’s revenue of $31.58 million that was reported in the same period of the year prior. It also came in above Wall Street’s revenue estimate of $36.81 million for the quarter.

Wingstop notes that its system-wide sales for the second quarter of 2018 came in at $304.86 million. The company’s system-wide sales for the second quarter of 2017 were $268.50 million. It also saw system-wide domestic same store sales growth of 4.3% during the quarter.

Wingstop also reported earnings per share of 23 cents during the second quarter of the year. This is up from its earnings per share of 18 cents from the same time last year. It was also good news for WING stock by beating out analysts’ earnings per share estimate of 20 cents for the period.

Wingstop’s net income for the second quarter of 2018 came in at $6.84 million. This is better than the restaurant company’s net income of $4.91 million that was reported in the second quarter of the previous year.

The most recent earnings report from Wingstop also includes its guidance for the full year of 2018. The company says that it is expecting earnings per share for the year to come in at 80 cents. Wall Street is looking for earnings per share of 84 cents for the full year of 2018.

WING stock was up 14% as of noon Friday and is up 28% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/wingstop-stock-soars-on-q2-sales/.

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