Why Wingstop Stock Hit an All-Time High Today
Shares of restaurant company Wingstop (NASDAQ: WING) took flight on Wednesday after the company announced financial results for the fourth quarter of 2022. As of 10 a.m. ET, Wingstop stock was up almost 13% -- down slightly from the all-time high it hit earlier in the trading session.
It was a good year for Wingstop. Full-year revenue jumped almost 27% year over year to $358 million, pushed higher by the company's 19th consecutive year of same-store-sales growth. Impressively, Q4 same-store-sales growth of 8.7% for domestic locations was driven by a higher number of transactions, not menu price increases, which is what you want to see.
Moreover, 2022 was a good year for Wingstop's profits. The company kicked off the year forecasting diluted earnings per share (EPS) of $1.57 at best. However, it earned diluted EPS of $1.77 -- up nearly 25% year over year and far outpacing guidance.
Source Fool.com
