Why European Wax Center Shares Are Jumping Today
Portfolio Pulse from Shivani Kumaresan
European Wax Center, Inc (NASDAQ:EWCZ) has raised its FY23 revenue and system-wide sales guidance, with same-store sales growth outlook also increased. The company reaffirmed its FY23 adjusted net income and EBITDA outlook. CEO David Willis highlighted strong unit growth and a recurring revenue stream from core guests. EWCZ repurchased 1.7 million shares in Q4 2023. The company's full audited financial results will be released in early March 2024. EWCZ shares saw a 20% increase in price.
January 08, 2024 | 3:38 pm
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European Wax Center raised its FY23 revenue and sales guidance, reaffirmed its income and EBITDA projections, and reported strong unit growth and share repurchases. The stock price increased by 20%.
The positive revision of revenue and sales guidance, along with the reaffirmation of income and EBITDA projections, indicates strong company performance and outlook, which typically leads to investor optimism and can drive the stock price up in the short term. The share repurchase also signals management's confidence in the company's value, supporting the positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100