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Wingstop (WING) Tops Q1 Earnings Estimates, Domestic Comps Up 9.5%

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Wingstop (WING - Free Report) just released its first quarter financial results, posting adjusted earnings of $0.25 per share and revenues of $37.39 million.

Wingstop is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Wingstop have skyrocketed 65% over the last year. The company also saw its stock price pop roughly 2.2% on Thursday to hit $49.26 per share prior to the release of its quarterly earnings results.

Wingstop stock is currently up 1.10% to $49.80 per share in after-hours trading shortly after its earnings report was released.

WING:

Beat earnings estimates. The company posted adjusted earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.20 per share.

Beat revenue estimates. The company saw revenue figures of $37.39 million, topping our consensus estimate of $36.54 million.

Wingstop’s adjusted quarterly earnings climbed from $0.21 per share in the year-ago period. Investors should note that the company adopted new accounting standards known as ASU 2014-09, which caused them to adjust the year-ago period results.

The chicken wing company’s domestic same store sales popped 9.5%. Wingstop also noted that its system-wide restaurant count jumped 12.2% to 1,157 locations worldwide.

“The strong top line momentum in the first quarter of 2018 led to adjusted EBITDA growth of 31.0% and adjusted net income growth of 16.4%,” CEO Charlie Morrison said in a statement.

Here’s a graph that looks at WING’s Price, Consensus and EPS Surprise history:

Wingstop Inc. Price, Consensus and EPS Surprise

Wingstop Inc. Price, Consensus and EPS Surprise | Wingstop Inc. Quote

Check back later for our full analysis on WING’s earnings report!

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