Wingstop (NASDAQ: WING) reported Q1 EPS of $0.22, $0.06 better than the analyst estimate of $0.16. Revenue for the quarter came in at $26.6 million versus the consensus estimate of $24.17 million.

• Total revenue increased 20.4% to $26.6 million
• System-wide restaurant count increased 18.1% to 1,031 worldwide locations
• Domestic same store sales declined 1.1%
• Net income increased to $6.5 million, or $0.22 per diluted share*, compared to $4.3 million, or $0.15 per diluted share
• Adjusted EBITDA**, a non-GAAP measure, increased 11.7% to $10.0 million
• Adjusted net income**, a non-GAAP measure, increased 42.8% to $6.5 million

Chairman, President and Chief Executive Officer Charlie Morrison stated, “We are pleased with the productivity of our development pipeline and improved trends in sales. We opened 33 net new restaurants during the first quarter, including seven international restaurants, and recently signed a development agreement for 30 franchise restaurants in Malaysia, as we continue to build on our long-term vision of being a top 10 global restaurant brand. The improved sales trends during the back half of the quarter can be attributed to our recent launch of national advertising, as awareness for our unique brand continues to grow.”

Fiscal Year 2017 Financial Outlook

We are providing the following financial outlook for the fiscal year ending December 30, 2017:

• System-wide unit growth of approximately 13% to 15%
• Low single digit domestic same store sales growth
• SG&A expenses of between $36.5 million and $37.5 million, reflecting the impact of our new vendor agreement
• Net income between $20.2 million and $20.5 million
• Fully diluted EPS growth of 19% - 21%, which reflects 29.3 million diluted shares outstanding, over 2016 adjusted earnings per diluted share of $0.58
• Adjusted EBITDA growth of 13% - 15%

For earnings history and earnings-related data on Wingstop (WING) click here.