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May 4, 2022, 8:10 a.m. EDT

Wingstop shares slump after profit and revenue misses

Wingstop Inc. (NAS:WING) shares sank 6.4% in Wednesday premarket trading after it reported first-quarter profit and revenue that missed expectations. The chicken wing chain posted net income totaling $8.7 million, or 29 cents per share, down from $13.2 million, or 44 cents per share, last year. Adjusted EPS of 34 cents missed the FactSet consensus for 36 cents. Revenue of $76.2 million was up from $70.7 million and also missed the FactSet consensus of $86.2 million. Domestic same-store sales were up 1.2%, below the FactSet consensus for a 5.3% rise. Wingstop had 60 net new locations in the first quarter. For the year, Wingstop is guiding for EPS of $1.55 to $1.57 and more than 220 net new locations. The FactSet consensus is for EPS of $1.54. Wingstop stock has slumped 48.4% for the year to date.

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