U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
Investing.com -- Wingstop reported first-quarter earnings that topped Wall Street expectations, but shares fell 4% in premarket trading after the company cut its 2025 domestic same-store sales growth forecast.
The chicken wing chain posted earnings per share of $0.99 for the quarter ended March 30, above analysts’ average estimate of $0.87.
Revenue came in at $171.1 million, slightly below the consensus forecast of $172.5 million.
The company now expects approximately 1% domestic same-store sales growth for 2025, down from a previous projection of low- to mid-single digits.
Wingstop (NASDAQ:WING) raised its global unit growth forecast to 16% to 17%, from 14% to 15%, as it continues to expand internationally.
It also lowered its outlook for 2025 net interest expense to approximately $40 million, from $46 million previously.
General and administrative expenses are projected at around $140 million, including $4.5 million in system implementation costs.