Q1 2025 Wingstop Inc Earnings Call Transcript
Key Points
- Wingstop Inc (WING) reported a record opening of 126 new units in the first quarter, showcasing strong development momentum.
- Digital sales increased to 72%, indicating a successful digital transformation strategy.
- Adjusted EBITDA increased by 18.4% to $59.5 million, demonstrating strong financial performance.
- The company launched the Wingstop Smart Kitchen in over 200 restaurants, reducing order times by 50% and improving guest satisfaction.
- Wingstop Inc (WING) achieved a record level of new guest acquisition in March, driven by the relaunch of crispy chicken tenders.
- Consumer sentiment has dropped to its second lowest level since 1952, affecting the macro environment.
- The company is experiencing a near-term pullback in certain geographic pockets, particularly among Hispanic and lower middle-income consumers.
- Same-store sales growth was only 0.5%, impacted by California fires, severe winter weather, and macroeconomic challenges.
- The company anticipates a same-store sales decline by mid-single digits in the second quarter due to strong prior-year comparisons.
- Increased SG&A expenses by $6.3 million due to investments in long-term growth and nonrecurring system implementation costs.
Good morning ladies and gentlemen, and thank you for standing by. Welcome to the Wingstop fiscal first-quarter and 2025 earnings conference call. (Operator Instructions) Please note that this conference is being recorded today, Wednesday, April 30, 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 first-quarter 2025 earnings conference call for Wingstop. Our results were published earlier this morning 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 materially from what we currently expect.
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