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Wingstop

Wingstop (WING) Q2 2025 Earnings

Reported Jul 30, 2025 at 7:31 AM ET · SEC Source

Q2 25 EPS

$1.00

BEAT +15.11%

Est. $0.87

Q2 25 Revenue

$174.3M

BEAT +0.46%

Est. $173.5M

vs S&P Since Q2 25

-75.7%

TRAILING MARKET

WING -56.7% vs S&P +19.0%

Market Reaction

Did WING Beat Earnings? Q2 2025 Results

Wingstop served up a decisive earnings beat in fiscal Q2 2025, posting adjusted EPS of $1.00 against a consensus estimate of $0.87, a 15.11% positive surprise, while revenue of $174.33 million edged past the $173.54 million estimate and grew 12.0% ye… Read more Wingstop served up a decisive earnings beat in fiscal Q2 2025, posting adjusted EPS of $1.00 against a consensus estimate of $0.87, a 15.11% positive surprise, while revenue of $174.33 million edged past the $173.54 million estimate and grew 12.0% year over year. The headline driver was relentless unit expansion, with 129 net new restaurants opening in the quarter, the fourth consecutive period above 100 net new units, pushing the system-wide count to 2,818 and lifting system-wide sales 13.9% to $1.34 billion. That growth came almost entirely from new locations, however, as domestic same-store sales fell 1.9%, the brand's first such decline in over two decades, though company-owned restaurants bucked the trend with 3.6% comps growth. Adjusted EBITDA rose 14.3% to $59.20 million, reflecting the scale benefits of rapid development. Looking ahead, management raised its 2025 global unit growth forecast to 17%-18% from 16%-17%, signaling confidence in the development pipeline even as it works to reignite comparable-sales momentum across the broader domestic system.

Key Takeaways

  • • Record 129 net new restaurant openings in the quarter, fourth consecutive quarter above 100 net new units
  • • 19.8% net new unit growth year over year
  • • System-wide sales increased 13.9% to $1.3 billion driven by new unit additions
  • • Digital sales increased to 72.2% of system-wide sales
  • • Company-owned restaurant same-store sales growth of 3.6% driven primarily by transaction increases
  • • National advertising fund contribution rate increased to 5.5% from 5.3%
  • • Cost of sales as percentage of company-owned restaurant sales improved to 75.2% from 75.9% due to labor and operating expense leverage
24/7 Wall St

WING YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

WING Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Our second quarter results showcase the strength of our unit economics and returns our brand partners are seeing for their businesses. Our momentum in development continued in the second quarter, opening 129 net new units, delivering 19.8% unit growth, which marked our fourth consecutive quarter of opening more than 100 net new units. We continue to open new restaurants at a record pace, demonstrating our brand partners' commitment to growing the Wingstop brand, furthering us towards our vision of becoming a Top 10 Global Restaurant Brand.”

— Michael Skipworth, Q2 2025 Earnings Press Release

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