Wingstop Inc. ( (WING) ) has released its Q4 earnings. Here is a breakdown of the information Wingstop Inc. presented to its investors.
Wingstop Inc., a leading player in the restaurant sector, specializes in serving chicken wings, tenders, and sandwiches with distinctive flavors across over 2,550 locations worldwide. The company is well-known for its robust franchise model and strong market presence.
In its fiscal year 2024 financial report, Wingstop Inc. announced significant growth with a record 349 net new restaurant openings and a 36.8% increase in system-wide sales, reaching $4.8 billion. The company maintained its streak of 21 consecutive years of same-store sales growth, reporting a 19.9% increase for the year.
Key financial metrics showed impressive performance, with total revenue rising by 36.0% to $625.8 million and net income surging by 54.9% to $108.7 million. The company emphasized the success of its digital sales strategy, which now accounts for 70.3% of system-wide sales, and highlighted a 15.8% unit growth in 2024, demonstrating strong confidence in its economic model.
Looking forward, Wingstop plans to continue its expansion with a projected global unit growth rate of 14% to 15% in 2025. The company remains optimistic about its strategic initiatives and focuses on becoming a top 10 global restaurant brand by leveraging its strong franchise network and innovative offerings.