Wingstop beats Q1 top and bottom line estimates; updates FY23 outlook

Wingstop press release (NASDAQ:WING): Q1 Non-GAAP EPS of $0.59 beats by $0.14.
Revenue of $108.7M (+42.6% Y/Y) beats by $9.22M.
Adjusted EBITDA, a non-GAAP measure, increased 59.8% to $34.6 million, compared to adjusted EBITDA of $21.6 million in the prior fiscal first quarter.
Outlook: Based on fiscal first quarter results, the Company is providing updated guidance for 2023, which is a 52-week fiscal year: High-single digit domestic same store sales growth; SG&A of between $85.5 - $87.5 million, which includes $2.8 million in consulting projects to support the Company's strategic initiatives, previously $82.0 - $84.0 million; and Stock-based compensation expense of approximately $12.0 - $13.0 million, previously $11.5 - $12.5 million.
Additionally, the Company is reiterating the following guidance for 2023: Approximately 240 global net new units; and Depreciation and amortization of between $14.0 - $15.0 million.