Restaurant chain Wingstop fattens profit by 22%, stock up
Wingstop Inc. (WING) was up 2.6% in premarket trades on Wednesday after the Dallas-based restaurant company said its profit rose by 21.6% while lifting its outlook for full-year same-store sales. Wingstop's second-quarter net income increased to $16.18 million, or 54 cents a share, from $13.3 million, or 44 cents a share, in the year-ago quarter. The company beat the Wall Street analyst target of 52 cents a share, according to FactSet data. Revenue increased to $107.17 million from $83.78 million, ahead of the analyst view of $105.9 million. Looking ahead, Wingstop said it now expects 2023 domestic same-store sales growth of 10% to 12%, up from its earlier view for a high single-digit percentage increase.
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
08-02-23 0832ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations