Net income for the quarter hit $29.1 million, or $1.07 per share, improving upon the $28.5 million reported during the same period last year. Adjusted earnings of $1.08 per share outpaced the $1.02 projection from FactSet analysts, providing a buffer against the company's revenue of $185.1 million, which fell short of the anticipated $192.9 million.
In section Market Quotes
Wingstop Shares Climb Despite Revenue Miss and Sales Guidance Cut
A 16% jump in share price greeted Wingstop’s third-quarter earnings report, as the chicken-wing chain managed to beat profit expectations despite missing revenue targets. Investors responded to the $2.83 per share gain by shaking off broader year-to-date losses, even as the company signaled a bleaker outlook for domestic same-store sales.
Chief Executive Michael Skipworth acknowledged the results failed to meet his internal benchmarks, though he pointed toward emerging indicators of potential growth. The company adjusted its full-year domestic same-store sales guidance, now projecting a decline between 6.5% and 7%, worsening from the previous 4% to 6% forecast. Raymond James analysts noted that the market reaction was fueled by short-interest investors covering positions, as nearly 17% of shares were held by those betting against the stock prior to the announcement.
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