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EX - 99.1 2 a991wingq32021 earningsrele.htm EX - 99.1 FOR IMMEDIATE RELEASE THE WING WING STOP EXPERTS Wingstop Inc. Reports Fiscal Third Quarter Financial Results Top - line Momentum Continues With 13.1 % Unit Growth Despite Macro Inflationary Challenges Dallas , November 3 , 2021 - ( PR NEWSWIRE ) - Wingstop Inc. ( " Wingstop ” or the “ Company ” ) ( NASDAQ : WING ) today announced financial results for the fiscal third quarter ended September 25 , 2021 . Highlights for the fiscal third quarter 2021 compared to the fiscal third quarter 2020 : " System - wide sales increased 16.7 % to $ 594.3 million 49 net new openings in the fiscal third quarter 2021 , an increase of 13.1 % Domestic same - store sales increased 3.9 % " Domestic restaurant AUV of approximately $ 1.6 million ■ ■ " Digital sales were 61.6 % of sales , comparable to the prior fiscal third quarter Total revenue increased 2.8 % to $ 65.8 million , which was impacted by a rebate of $ 6.9 million of advertising surplus that was returned to franchisees in the third quarter to partially offset the impact of record high wing inflation . Net income increased 12.0 % to $ 11.3 million , or $ 0.38 per diluted share , compared to net income of $ 10.1 million , or $ 0.34 per diluted share in the prior fiscal third quarter . Adjusted net income and adjusted earnings per diluted share , both non - GAAP measures , were $ 8.6 million and $ 0.29 per diluted share , compared to $ 9.1 million and $ 0.31 per diluted share in the prior fiscal third quarter Adjusted EBITDA , a non - GAAP measure , increased 16.2 % to $ 21.4 million Adjusted EBITDA , adjusted net income , and adjusted earnings per diluted share are non - GAAP measures . Reconciliations of adjusted EBITDA , adjusted net income , and adjusted earnings per diluted share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States ( " GAAP " ) are set forth in the schedule accompanying this release . See “ Non - GAAP Financial Measures . ' " " Despite the macro headwinds all of us are facing , Wingstop continues to outperform . Our focus on our long - term strategy continues to fuel industry leading same - store sales and restaurant development growth for the brand . While chicken prices remain high due to macro inflationary factors including a labor shortage , we were able to achieve another record quarter for new restaurant development with 49 net new restaurants . We also continued our strong top - line momentum and grew domestic same - store sales by 3.9 % , or 29.3 % on a two - year basis , which is on pace for our 18th consecutive year of positive same store sales growth for the brand , ” stated Charlie Morrison , Chairman and Chief Executive Officer of Wingstop . “ Our results underscore the strength and resiliency of our brand and the resolve of our brand partners to stay focused on the long- term despite the difficult operating environment . ”