Why Wingstop Stock Soared Nearly 8% Higher Today
Specialty restaurant chain operator (NASDAQ: WING) took flight on the stock exchange Wednesday, rising almost 8% higher in price. This was understandable, given that the company published a set of quarterly results that were eminently satisfying. That share price pop easily topped the S 500 index's 1% gain.
For its third quarter, Wingstop booked $117 million in revenue. That represented a meaty increase of nearly 26% year over year. Same-restaurant U.S. sales rose by 15%, while there were 53 net new restaurant openings during the period, resulting in an end-of-quarter total of 2,099 Wingstop restaurants worldwide.
On the bottom line, Wingstop managed an even more impressive growth number. Its non-GAAP (adjusted) net profit improved by nearly 54% to hit $20.5 million, or $0.69 per share.
Source Fool.com
