Wingstop (NASDAQ:WING) shares rallied more than 11% premarket after impressively beating first quarter earnings and guidance expectations.
The firm reported Q1 EPS of $0.59, $0.14 above the analyst consensus estimate of $0.45, while revenue for the quarter came in at $108.72 million, smashing the consensus estimate of $99.43M.
WING's domestic same-store sales increased by 20.1%, while digital sales increased to 65.2%.
"Our strong first quarter results reflect the continued momentum and strength of the Wingstop brand as we delivered 20.1% domestic same-store sales growth, driven by transaction growth," said Michael Skipworth, WING's President and Chief Executive Officer.
Looking ahead, the company expects full-year 2023 domestic same-store sales growth to be in the high-single digits.
Wingstop's positive results are in contrast to Yum! Brands (NYSE:YUM), which missed consensus EPS expectations when it reported before the open on Wednesday.