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Investing.com -- Wingstop (NASDAQ:WING) shares rose 15% in premarket trading after the fast-food chain reported better-than-expected second-quarter earnings and lifted its global store expansion target for the year.
Adjusted earnings per share came in at $1, beating Wall Street estimates of $0.87.
Revenue for the quarter was $174.3 million, narrowly beating expectations of $173.4 million.
The company raised its full-year global unit growth forecast to 17%–18%, up from a prior range of 16%–17%.
"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,” said CEO Michael Skipworth
“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."
It also slightly trimmed its expected net interest expense to about $39 million from $40 million.
Wingstop reaffirmed its other 2025 targets, including roughly 1% domestic same-store sales growth, $140 million in SG&A costs, which includes $4.5 million for system implementation and $26 million in stock-based compensation.
Depreciation and amortization are expected to total between $28 million and $29 million.