Wingstop Reports Second Quarter Financial Results for FY2023
August 7, 2023
🌥️Earnings Overview
At the end of the second quarter of FY2023 on June 30, WINGSTOP INC ($NASDAQ:WING) reported total revenue of USD 107.2 million, a 27.9% increase from the same period in FY2022. Net income for the quarter was also up 21.6% to USD 16.2 million.
Market Price
On Wednesday, Wingstop Inc. reported their second quarter financial results for FY2023. The company’s stock opened at $165.2 and ended the day closing at $167.7, representing a 0.4% decrease compared to its prior closing price of $168.4. Wingstop Inc.’s CEO, Charlie Morrison, highlighted the positive performance of the company. He stated that they are proud of the results and that these demonstrate the success of their strategies.
He further noted that they are committed to continue executing their strategies in the coming months. Overall, Wingstop Inc.’s second quarter financial report was positive and showed solid growth compared to the same period of the previous year. The company’s stock opened and closed at lower than its prior closing price, however, which could be an indication of investor sentiment towards the stock. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Wingstop Inc. More…
| Total Revenues | Net Income | Net Margin |
| 413.43 | 62.81 | 15.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wingstop Inc. More…
| Operations | Investing | Financing |
| 94.74 | -41.83 | -30.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wingstop Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 451.22 | 816.57 | -12.19 |
Key Ratios Snapshot
Some of the financial key ratios for Wingstop Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.6% | 24.8% | 25.3% |
| FCF Margin | ROE | ROA |
| 16.1% | -17.5% | 14.5% |
Analysis
GoodWhale recently conducted an analysis of WINGSTOP INC‘s financials and concluded that they have a high health score of 8 out of 10, indicating that they are capable of sustaining future operations during times of crisis. In addition, our Star Chart classification deemed WINGSTOP INC a “gorilla”, meaning that the company has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given these positive indicators, we believe WINGSTOP INC would be an attractive investment opportunity for growth-oriented investors. In particular, WINGSTOP INC is strong in dividend, growth, and profitability, making it an appealing choice for those looking to benefit from such prospects. On the other hand, WINGSTOP INC is relatively weak in asset management, so we advise potential investors to pay special attention to this aspect before making an investment decision. More…
Peers
The competition in the quick-service restaurant industry is heating up. Wingstop Inc, a leading player in the chicken wing segment, is facing increased competition from Wowprime Corp, Various Eateries PLC, and Hostmore PLC. These companies are all vying for a share of the quick-service restaurant market and are each employing different strategies to gain an edge over their competitors. Wingstop Inc is well-positioned to compete against these rivals and maintain its position as a leading player in the industry.
– Wowprime Corp ($TWSE:2727)
Wiprime Corp, a 9.14B market cap company as of 2022, is a holding company with a -1.91% ROE. The company invests in a range of businesses including healthcare, education, and technology.
– Various Eateries PLC ($LSE:VARE)
Eateries PLC has a market cap of 34.27M as of 2022. The company has a Return on Equity of -5.88%. Eateries PLC is a restaurant company that operates in the United Kingdom.
– Hostmore PLC ($LSE:MORE)
Hostmore PLC is a U.K.-based holding company engaged in the operation of hotels. As of 2022, the company had a market capitalization of 22.07 million pounds and a return on equity of 2.42%. The company operates a portfolio of hotels in the United Kingdom, Spain, and Portugal.
Summary
WINGSTOP INC has reported solid financial results for the second quarter of its FY2023. Total revenue for the quarter was USD 107.2 million, a 27.9% increase from Q2 of last year. Net income for the quarter stood at USD 16.2 million, a 21.6% increase year-over-year.
This positive performance reflects the company’s successful efforts in its long-term growth strategy, strengthening the outlook for potential investors. WINGSTOP INC’s strong financial performance and growth prospects make it a viable investment option for those seeking to capitalize on its performance.
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