Wingstop Inc. (NASDAQ:WING) shares moved lower despite delivering an earnings beat, as softer sales trends weighed on investor sentiment.
Pressure from declining same-store sales overshadowed continued expansion, strong digital engagement and ongoing margin growth.
• Wingstop shares are sliding. Why are WING shares down?
Quarterly Details
The company reported first-quarter adjusted earnings per share of $1.18, beating the analyst consensus estimate of $1.03. Quarterly sales of $183.725 million (+7.4% year over year) missed the Street view of $189.109 million.
Adjusted EBITDA rose 9.9% year over year to $65.4 million in the first quarter.
Domestic same-store sales fell 8.7% from the prior year, while digital sales accounted for 72.5% of system-wide sales.
“Despite the …