Q4 2024 Wingstop Inc Earnings Call Transcript
Key Points
- Wingstop Inc (WING) achieved record top- and bottom-line results in 2024, marking 21 consecutive years of same-store sales growth.
- Domestic same-store sales grew by 19.9% in 2024, driven primarily by transactions, with a two-year stacked comp of 38%.
- The company opened a record 349 net new restaurants in 2024, delivering a 15.8% unit growth.
- Digital sales mix increased to 70%, and the digital database surpassed 50 million customers, showing nearly 30% growth.
- Wingstop Inc (WING) launched a proprietary AI-enabled kitchen operating platform to improve service speed and team member productivity.
- The company anticipates food and packaging costs to remain in the mid-30% range for 2025, reflecting ongoing cost pressures.
- SG&A expenses increased by $3.2 million in Q4 2024, driven by investments in headcount-related expenses.
- The company is facing a competitive QSR environment with heavy value promotions, which could impact transaction growth.
- There is an elevated consumer anxiety about the future, which could affect spending behavior and dining out frequency.
- The company is managing a significant increase in interest expense due to a recent securitization transaction, impacting EPS.
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Wingstop fiscal fourth-quarter and full-year 2024 earnings conference call. (Operator Instructions) Please note that this conference is being recorded today, Wednesday, February 19, 2025.
On the call today are Michael Skipworth, President and Chief Executive Officer; Alex Kaleida, Senior Vice President and Chief Financial Officer; and Kristen Thomas, Senior Manager of Investor Relations. I would now like to turn the conference over to Kristen. Please go ahead.
Thank you, and welcome to the fiscal fourth-quarter and full-year 2024 earnings conference call for Wingstop. Our results were published earlier this evening and are available on our Investor Relations website at ir.wingstop.com.
Our discussion today includes forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties that could cause our actual results to differ
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