What's Going On With Restaurant Chain Wingstop Shares Today?
Portfolio Pulse from Shivani Kumaresan
Wingstop Inc (NASDAQ:WING) shares fell despite reporting strong first-quarter FY24 results, with sales growth of 34.1% Y/Y to $145.789 million, surpassing analyst estimates. System-wide sales rose 36.8% to $1.1 billion, with significant increases in domestic same-store sales, digital sales, and average unit volumes (AUVs). Adjusted EBITDA and EPS also beat expectations, and the company raised its FY24 outlook for domestic same-store sales and global net new units. However, shares dropped 4.07% to $369.15.
May 01, 2024 | 2:35 pm
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Wingstop Inc reported a strong Q1 FY24 performance with sales growth of 34.1%, beating estimates, and raised its FY24 outlook. Despite this, shares fell 4.07% to $369.15.
Despite Wingstop's strong Q1 FY24 performance and positive outlook for FY24, the stock price fell, likely due to market expectations already pricing in the positive results or broader market conditions affecting stock performance.
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