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Wingstop (WING) investor relations material
Wingstop Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved system-wide sales growth of 12.1% for 2025, surpassing 3,000 restaurants, opening 493 net new units, and entering six new international markets, despite a 3.3% decline in same-store sales, the first in 22 years.
Implemented the Wingstop Smart Kitchen initiative across all domestic restaurants in 10 months, driving operational improvements and speed of service, with 50% of restaurants achieving 10-minute ticket times.
Launched a successful pilot of the Club Wingstop loyalty program, with national rollout planned for Q2 2026 and a 7% increase in frequency among pilot participants.
Digital sales accounted for 73.2% of system-wide sales in Q4 2025, with the digital customer base growing 20% in 2025, especially among higher-income and Gen Z cohorts.
Adjusted EBITDA grew 15.2% year-over-year, reflecting the durability of the asset-light, highly franchised model.
Financial highlights
Q4 system-wide sales reached $1.3 billion, up 9.3% year-over-year, driven by 124 net new restaurants, offset by a 5.8% decline in domestic same-store sales.
Q4 total revenue was $175.7 million, an 8.6% increase year-over-year.
Adjusted EBITDA for Q4 was $61.9 million, up 10% year-over-year; adjusted EPS was $1, up 5%, including an $0.18/share impact from interest expense.
Fiscal 2025 net income rose 60.3% to $174.3 million ($6.21 per diluted share); adjusted net income was $114.5 million ($4.08 per share).
Returned over $250 million to shareholders in 2025 via dividends and share repurchases.
Outlook and guidance
2026 domestic same-store sales expected to be flat to low-single-digit percent growth; global unit growth anticipated at 15–16%.
Adjusted EBITDA growth rate projected at approximately 15% for 2026.
SG&A guidance for 2026 is $151–$154 million, including $32 million in stock-based compensation and $3 million in restructuring charges.
Interest expense for 2026 projected at $43 million; depreciation/amortization at $30 million.
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