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Wingstop shares drop after profit and revenue miss

Wingstop Inc. (WING) shares fell 6.8% in Wednesday premarket trading after the chicken wing chain reported third-quarter earnings and revenue that missed Street expectations. Net income totaled $11.3 million, or 38 cents per share, up from $10.1 million, or 34 cents per share, last year. Adjusted EPS of 29 cents missed the FactSet consensus for 35 cents. Revenue of $65.8 million was up from $64.0 million last year and was also below the FactSet consensus for $74.8 million. Domestic same-store sales rose 3.9%, below the FactSet consensus for 5.3%. For the full year, Wingstop expects domestic same-store sales growth of 7% to 8%. The FactSet consensus is for an 8.6% increase. Wingstop shares have gained 27% for the year to date while the S&P 500 index is up 23.4% for the period.

-Tonya Garcia

 

(END) Dow Jones Newswires

11-03-21 0754ET

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