Wingstop (NASDAQ:WING) earnings for the restaurant chain’s fourth quarter of 2019 have WING stock down on Wednesday. This comes after reporting adjusted earnings per share (EPS) of 14 cents, which is below Wall Street’s estimate of 17 cents for the period. However, revenue of $53.19 million does beat out analysts’ estimates of $52.97 million.
Here’s what else investors need to know about the most recent Wingstop earnings report.
- Adjusted EPS for the quarter is 1 cent below what it was in Q4 2018.
- Revenue comes in 31.3% higher than the $40.51 million from the same time last year.
- Operating income of $8.89 million is a 2.42% increase year-over-year from $8.68 million.
- The Wingstop earnings report also includes a net income of $3.05 million.
- This is a 26.03% improvement over the company’s net income of $2.42 million during the same period of the year prior.
Charlie Morrison, chairman and CEO of Wingstop, said this about the WING stock earnings:
“2019 was a year of strong execution for Wingstop as we closed out our 16th consecutive year of positive same store sales growth, grew overall restaurant count by 10.6% and system-wide sales by 20.1%, which translated to adjusted EBITDA growth of 16.3%.”
The Wingstop earnings report includes its outlook for 2020. The company is expecting system-wide annual unit growth of 10% or more. The company also notes that it is looking for same-store sales growth in the mid-single digits during 2020.
WING stock is currently down nearly 1% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.