Wingstop projects 2026 U.S. same-store sales down ~6.5%-7%

Wingstop's 2026 outlook calls for an approximately 6.5% to 7% domestic same-store sales decline and 440 to 450 global net new units.

Rhea-AI Filing Summary

Wingstop Inc. reported fiscal third-quarter 2026 results for the quarter ended September 26. Total revenue was $185.1 million, up 5.3% from a year earlier, and system-wide sales were $1.437 billion, up 6.0%. Net income rose 2.2% to $29.1 million, or $1.07 per diluted share; adjusted net income fell 3.5% to $29.3 million, while adjusted EBITDA increased 0.5% to $64.0 million. Domestic same-store sales declined 5.4%, and domestic restaurant AUV was $1.848 million.

For 2026, Wingstop projects an approximately 6.5% to 7% decline in domestic same-store sales growth and 440 to 450 global net new units. It opened 76 net restaurants during the quarter and had 3,331 system-wide restaurants as of September 26. The board declared a $0.33 quarterly dividend per share, payable December 4 to stockholders of record November 13. Wingstop repurchased and retired 190,688 shares at an average $131.12 per share during the quarter; $288.4 million remained available under its repurchase program as of September 26.

2 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointTotal revenue increased 5.3% to $185.1 million in Q3 2026.
• Minor pointQuarterly dividend per share increased to $0.33 from $0.30 a year earlier.

Negative

• Moderate pointDomestic same-store sales fell 5.4% year over year in Q3 2026.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 guidance projects a 6.5% to 7% decline in domestic same-store sales growth.

Filing Explained

Adjusted EBITDA’s reported increase describes supplemental performance, not cash available for investment.

This Form 8-K reports Wingstop’s fiscal third-quarter results and discloses that it acquired 13 franchised restaurants during the quarter. At September 26, 2026, Wingstop reported 71 company-owned restaurants and 2,716 domestic franchised restaurants, reflecting the completed transfer of those locations into its company-owned base.

Wingstop attributed a $2.2 million increase in company-owned restaurant sales from a year earlier primarily to 16 corporate stores opened or acquired since then, including the 13 acquired this quarter. Adjusted EBITDA is a supplemental non-GAAP performance measure, not an alternative to GAAP net income or a measure of discretionary cash available to invest.

8-K Event Classification

3 items: 2.02, 8.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Total revenue: $185.1 million System-wide sales: $1.437 billion Net income: $29.1 million +5 more

8 metrics

Total revenue $185.1 million Fiscal Q3 2026; increased 5.3% vs. Q3 2025

System-wide sales $1.437 billion Fiscal Q3 2026; increased 6.0% vs. Q3 2025

Net income $29.1 million Fiscal Q3 2026; increased 2.2% vs. Q3 2025

Domestic same-store sales growth -5.4% Fiscal Q3 2026; -5.6% in Q3 2025

Adjusted EBITDA $64.0 million Fiscal Q3 2026; increased 0.5% vs. Q3 2025

Domestic same-store sales growth guidance Approximately 6.5% to 7% decline 2026 outlook

Quarterly dividend $0.33 per share Q3 2026; $0.30 per share in Q3 2025

Shares repurchased and retired 190,688 shares at an average price of $131.12 per share Fiscal Q3 2026

Key Terms

Domestic average unit volume (“AUV”), Domestic same store sales, Adjusted EBITDA, System-wide sales

4 terms

Domestic average unit volume (“AUV”) financial

"Domestic average unit volume (“AUV”) consists of"

Domestic same store sales financial

"Domestic same store sales reflects the change"

Domestic same store sales measure how revenue has changed at a company’s existing stores within its home country, comparing current sales to the same stores’ sales from a prior period (usually a year earlier). It matters to investors because it isolates organic demand—like checking temperature at the same locations rather than counting new ones—so it shows whether customers are buying more or less at established outlets and helps separate true growth from expansion.

Adjusted EBITDA financial

"We define “Adjusted EBITDA” as EBITDA further adjusted"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

System-wide sales financial

"System-wide sales represents net sales for all"

Total revenue generated by every outlet in a company’s network, including both company-owned and franchised locations, measured over a given period. Investors watch system-wide sales as a broad indicator of brand demand and growth—like checking the overall temperature of a chain rather than one store—because rising totals suggest the business model and customer base are expanding even if ownership mixes vary.

Earnings Snapshot

Total revenue: $185.1 million · Guidance included

Fiscal third quarter ended September 26, 2026

Total revenue $185.1 million Increased 5.3% vs. Q3 2025

System-wide sales $1.437 billion Increased 6.0% vs. Q3 2025

Net income $29.1 million Increased 2.2% vs. Q3 2025

Adjusted net income $29.3 million Decreased 3.5% vs. Q3 2025

Adjusted EBITDA $64.0 million Increased 0.5% vs. Q3 2025

Domestic same-store sales growth -5.4% Q3 2025 was -5.6%

Guidance

For 2026: a decline of approximately 6.5% to 7% in domestic same-store sales growth; global net new units of 440 to 450, or 14.4% to 14.7% unit growth; SG&A of $138 million to $140 million, including $3 million of restructuring charges related to corporate realignment; stock-based compensation expense of approximately $21 million; depreciation and amortization of approximately $35 million; and interest expense, net, of approximately $41 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many restaurants did WING have at the end of Q3 2026?

Wingstop had 3,331 system-wide restaurants as of September 26, 2026: 2,787 in the United States, including 2,716 franchised and 71 company-owned, and 544 international franchised restaurants, including U.S. territories.

How many shares did WING repurchase in Q3 2026?

Wingstop repurchased and retired 190,688 common shares at an average price of $131.12 per share during the quarter. As of September 26, $288.4 million remained available under the share repurchase program.

What SG&A expense did WING forecast for 2026?

Wingstop's 2026 SG&A guidance was $138 million to $140 million, including $3 million of restructuring charges related to corporate realignment.

When will WING pay its quarterly dividend?

The $0.33 per-share quarterly dividend is payable December 4, 2026, to stockholders of record as of November 13, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/28/2026 - 07:37 AM EDT Accepted by SEC EDGAR 10/28/2026 - 07:37 AM EDT Learn about SEC filing dates

0001636222FALSE00016362222026-10-272026-10-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 27, 2026

WINGSTOP INC.

(Exact name of registrant as specified in its charter)

Delaware			001-37425			47-3494862
(State or other jurisdiction of incorporation or organization)			Commission File Number			(IRS Employer Identification No.)
2801 N Central Expressway
Suite 1600
Dallas, Texas						75204
(Address of principal executive offices)						(Zip Code)

(972) 686-6500

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.01 per share			WING			NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition.” Consequently, it shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such filing.

On October 28, 2026, Wingstop Inc. (the “Company,” “we,” “our,” or “us”) issued a press release reporting the Company’s financial results for its fiscal third quarter ended September 26, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein in its entirety. The press release uses the U.S. generally accepted accounting principles (“GAAP”) measures of net income and earnings per diluted share and the following non-GAAP financial measures: EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted earnings per diluted share. A discussion of these non-GAAP financial measures, including a discussion of the usefulness and purpose of each measure, is included below.

EBITDA and Adjusted EBITDA. EBITDA and Adjusted EBITDA are supplemental measures of our performance that are not required by, or presented in accordance with, GAAP. EBITDA and Adjusted EBITDA are not measurements of our financial performance under GAAP and should not be considered as alternatives to net income or any other performance measure derived in accordance with GAAP, or as alternatives to cash flows from operating activities as a measure of our liquidity.

We define “EBITDA” as net income before interest expense, net, income tax expense (benefit), and depreciation and amortization. We define “Adjusted EBITDA” as EBITDA further adjusted for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, certain restructuring charges, and stock-based compensation expense. We present EBITDA and Adjusted EBITDA because we consider them to be important supplemental measures of our performance and believe they are frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in our industry. Management believes that investors’ understanding of our performance is enhanced by including these non-GAAP financial measures as a reasonable basis for comparing our ongoing results of operations. Many investors are interested in understanding the performance of our business by comparing our results from ongoing operations on a period-over-period basis and would ordinarily add back non-cash expenses such as depreciation and amortization, as well as items that are not part of normal day-to-day operations of our business.

Management uses EBITDA and Adjusted EBITDA:

•as a measurement of operating performance because we believe they assist management in comparing the operating performance of our restaurants on a consistent basis, as they remove the impact of items not directly resulting from our core operations;

•for planning purposes, including the preparation of our internal annual operating budget and financial projections;

•to evaluate the performance and effectiveness of our operational strategies;

•to evaluate our capacity to fund capital expenditures and expand our business; and

•to calculate incentive compensation payments for our employees, including assessing performance under our annual incentive compensation plan.

By providing these non-GAAP financial measures, together with a reconciliation to the most comparable GAAP measure, we believe we are enhancing investors’ understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation, or as an alternative to, or a substitute for, net income or other financial statement data presented in our consolidated financial statements as indicators of financial performance. Some of the limitations include, but are not limited to, the following:

•such measures do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments;

•such measures do not reflect changes in, or cash requirements for, our working capital needs;

•such measures do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt;

•such measures do not reflect our tax expense or the cash requirements to pay our taxes;

•although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any cash requirements for such replacements; and

•other companies in our industry may calculate such measures differently than we do, limiting their usefulness as comparative measures.

Due to these and other limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to us to invest in the growth of our business. We compensate for these limitations by relying primarily on our GAAP results and using these non-GAAP measures only as performance measures and supplementally. As noted in the press release attached hereto as Exhibit 99.1, Adjusted EBITDA includes adjustments for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, certain restructuring charges, and stock-based compensation expense. We believe these adjustments are appropriate because the amounts recognized can vary significantly from period-to-period, do not directly relate to the ongoing operations of our restaurants, and complicate comparisons of our internal operating results and operating results of other restaurant companies over time.

Adjusted Net Income and Adjusted Earnings Per Diluted Share. Adjusted net income represents net income adjusted for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, certain restructuring charges, and related tax adjustments that management believes are not indicative of the Company’s core operating results or business outlook over the long-term. Adjusted earnings per diluted share is defined as adjusted net income divided by weighted average diluted share count. Adjusted net income and adjusted earnings per diluted share are supplemental measures of operating performance that do not represent and should not be considered alternatives to net income and earnings per diluted share, as determined by GAAP. These measures have not been prepared in accordance with Article 11 of Regulation S-X promulgated under the Securities Act. Management believes adjusted net income and adjusted earnings per diluted share supplement GAAP measures and enable management to more effectively evaluate the Company’s performance period-over-period and relative to competitors.

We caution investors that amounts presented in accordance with our definitions may not be comparable to similar measures disclosed by our competitors because not all companies and analysts calculate certain non-GAAP measures in the same manner.

Item 8.01. Other Events

Quarterly Dividend

On October 27, 2026, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.33 per share of common stock. The dividend is payable on December 4, 2026 to stockholders of record as of the close of business on November 13, 2026. The declaration of any future dividends is subject to the Board’s discretion.

Item 9.01. Financial Statements and Exhibits

(d)			Exhibits
99.1			Press release, dated October 28, 2026 (furnished pursuant to Item 2.02)
104			Cover Page Interactive Data File (embedded within the Inline XBRL Document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Wingstop Inc.

Date:

October 28, 2026

By:

/s/ Alex R. Kaleida

Chief Financial Officer (Principal Financial and Accounting Officer)

FOR IMMEDIATE RELEASE

Wingstop Inc. Reports Fiscal Third Quarter Financial Results

Dallas, October 28, 2026 - (PRNewswire) - Wingstop Inc. (NASDAQ: WING) today announced financial results for the fiscal third quarter ended September 26, 2026.

“We are taking deliberate action across our business to drive same store sales growth, with a focus on sharpening our marketing execution, strengthening restaurant operations, and leveraging Club Wingstop to deepen guest relationships,” said Michael Skipworth, President and Chief Executive Officer. “While we are not satisfied with our third quarter results and the improvement in sales performance is taking time, we are encouraged by the early indicators from the changes we've made and remain focused on returning to sustained sales growth. With compelling restaurant-level economics, a robust development pipeline, and significant global whitespace, we remain confident in the strength of the Wingstop model and our long-term opportunity to become a Top 10 Global Restaurant Brand.”

Q3 2026 Highlights

▪System-wide sales of $1.4 billion increased 6.0% vs. Q3 2025

▪76 net new openings

▪Domestic restaurant AUV of $1.85 million

▪Domestic same store sales decreased 5.4% vs. Q3 2025

▪Digital sales represented 73.7% of system-wide sales

▪Total revenue of $185.1 million, an increase of 5.3%, vs. Q3 2025

▪Net income, increased 2.2% to $29.1 million, or $1.07 per diluted share

▪Adjusted net income1 and adjusted earnings per diluted share1, both non-GAAP measures, decreased 3.5% to $29.3 million, or $1.08 per diluted share; and

▪Adjusted EBITDA1, increased 0.5% vs. Q3 2025 to $64.0 million

1See “Non-GAAP Financial Measures” and the reconciliation tables accompanying this release for a discussion and reconciliation of certain non-GAAP financial measures included in this release.

1

Key Operating Metrics

			Thirteen Weeks Ended
			September 26, 2026						September 27, 2025
Number of system-wide restaurants open at end of period			3,331						2,932
Number of domestic franchise restaurants open at end of period			2,716						2,450
Number of international franchise restaurants open at end of period (1)			544						427
System-wide sales (in millions)			$    1,437						$    1,356
Domestic AUV (in thousands)			$    1,848						$    2,061
Domestic same store sales growth			(5.4)    %						(5.6)    %
Company-owned domestic same store sales growth			(2.7)    %						3.8    %
Net income (in thousands)			$    29,104						$    28,478
Adjusted net income (in thousands)			$    29,340						$    30,393
Adjusted EBITDA (in thousands)			$    63,999						$    63,658

(1) Including U.S. territories.

Q3 2026 Financial Results

Total revenue for the third quarter 2026 increased to $185.1 million from $175.7 million in the prior third quarter. Royalty revenue, franchise fees and other increased $5.1 million, of which $8.6 million was primarily due to net new franchise development, partially offset by a decrease of $3.6 million due to a 5.4% decline in domestic same store sales contributed by lower transaction volumes, reflecting continued pressure on consumer spending. Advertising fees increased $2.0 million due to a 6.0% increase in system-wide sales in the third quarter 2026. Company-owned restaurant sales increased $2.2 million primarily due to the sixteen corporate stores opened or acquired since the prior year period, including the thirteen stores acquired during the thirteen weeks ended September 26, 2026, as previously disclosed.

Cost of sales was $27.2 million compared to $24.3 million in the prior third quarter. As a percentage of company-owned restaurant sales, cost of sales increased to 78.2% from 74.8% in the prior third quarter. The increase was primarily driven by higher food, beverage and packaging costs, related to fries and packaging costs; increased rent, repair and maintenance expenses; and higher labor costs associated with acquired restaurants. The increase also reflected the impact of lower sales on fixed labor costs and operating expenses.

Selling, general & administrative (“SG&A”) expense decreased $0.2 million to $30.5 million from $30.7 million in the prior third quarter. The decrease in SG&A expense was primarily driven by $2.0 million in reduced stock compensation expense due to forfeitures recognized in the current period which was partially offset by a $1.5 million increase in headcount related expenses.

Depreciation and amortization increased $2.8 million to $9.0 million from $6.2 million in the comparable period in 2025. The increase in depreciation and amortization was primarily due to capital expenditures placed in service subsequent to the comparable period in 2025 related to our technology investments.

Income tax expense was $10.9 million, yielding an effective tax rate of 27.3%, comparable to 28.1% in the prior-year period. The decrease in total tax expense is primarily due to a decrease in state income taxes and other non-deductible items.

2

Financial Outlook

The Company is providing updated guidance for 2026:

•A decline of approximately 6.5% to 7% in domestic same store sales growth;

•Global net new units of 440 to 450, or 14.4% to 14.7% unit growth;

•SG&A of between $138 - $140 million, which includes $3 million of restructuring charges related to corporate realignment;

•Stock-based compensation expense of approximately $21 million;

•Depreciation and amortization of approximately $35 million; and

•Interest expense, net of approximately $41 million.

Restaurant Development

As of September 26, 2026, there were 3,331 Wingstop restaurants system-wide. This included 2,787 restaurants in the United States, of which 2,716 were franchised restaurants and 71 were company-owned, and 544 franchised restaurants were in international markets, including U.S. territories. During the third quarter 2026, there were 76 net system-wide Wingstop restaurant openings.

Quarterly Dividend

In recognition of our strong cash flow generation and our commitment to returning value to stockholders, on October 27, 2026, our board of directors authorized and declared a quarterly dividend of $0.33 per share of common stock, resulting in a total dividend of approximately $9.0 million. This dividend will be paid on December 4, 2026 to stockholders of record as of November 13, 2026.

Share Repurchase

As previously announced, during the fiscal first quarter of 2026, our board of directors authorized the purchase of up to an additional $300.0 million of our outstanding shares of common stock under our existing share repurchase program.

We repurchased and retired 190,688 shares of our common stock at an average price of $131.12 per share during the third quarter of 2026. As of September 26, 2026, $288.4 million remained available under the share repurchase program previously approved by our board of directors.

Since the inception of our share repurchase program in August 2023, we have repurchased and retired 3,150,161 shares of our common stock at an average price of $241.75 per share.

3

The following definitions apply to these terms as used in this release:

Domestic average unit volume (“AUV”) consists of the average annual sales of all restaurants that have been open for a trailing 52-week period or longer. This measure is calculated by dividing sales during the applicable period for all restaurants being measured by the number of restaurants being measured. Domestic AUV includes revenue from both company-owned and franchised restaurants. Domestic AUV allows management to assess our domestic company-owned and franchised restaurant economics. Changes in domestic AUV are primarily driven by increases in same store sales and are also influenced by opening new restaurants.

Domestic same store sales reflects the change in year-over-year sales for the same store restaurant base. We define the same store restaurant base to include those restaurants open for at least 52 full weeks. This measure highlights the performance of existing restaurants, while excluding the impact of new restaurant openings and permanent closures. We review same store sales for domestic company-owned restaurants as well as system-wide domestic restaurants. Domestic same store sales growth is driven by increases in transactions and average transaction size. Transaction size increases are driven by price increases or favorable mix shift from either an increase in items purchased or shifts into higher priced items.

System-wide sales represents net sales for all of our company-owned and franchised restaurants, as reported by franchisees. This measure allows management to better assess changes in our royalty revenue, our overall store performance, the health of our brand and the strength of our market position relative to competitors. Our system-wide sales growth is driven by new restaurant openings as well as increases in same store sales.

EBITDA and Adjusted EBITDA are defined as net income before interest expense, net, income tax expense (benefit), and depreciation and amortization (EBITDA), further adjusted for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, certain restructuring charges, and stock-based compensation expense.

Adjusted net income is defined as net income adjusted for losses on debt extinguishment and financing transactions, transaction costs, costs and fees associated with investments in our strategic initiatives, gains and losses on non-recurring transactions, certain system implementation costs, certain restructuring charges, and related tax adjustments.

Adjusted earnings per diluted share is defined as adjusted net income divided by weighted average diluted share count.

We caution investors that amounts presented in accordance with our definitions above may not be comparable to similar measures disclosed by our competitors because not all companies and analysts calculate certain key operating metrics or non-GAAP measurements in the same manner.

4

Conference Call and Webcast

We will host a conference call today to discuss the third fiscal quarter 2026 financial results at 10:00 AM Eastern Time. The conference call can be joined telephonically by dialing 1-877-259-5243 or 1-412-317-5176 (international) and asking for the Wingstop conference call. A replay will be available two hours after the call and can be accessed by dialing 1-855-669-9658 or 1-412-317-0088 (international), then entering the replay code 4572027. The replay will be available through Wednesday, November 4, 2026.

The conference call will also be webcast live and later archived on the investor relations section of Wingstop’s corporate website at ir.wingstop.com under the ‘News & Events’ section.

About Wingstop

Founded in 1994 and headquartered in Dallas, TX, Wingstop Inc. (NASDAQ: WING) operates and franchises more than 3,000 restaurants worldwide, with approximately 98% of the total restaurant count owned by brand partners. Generating over $5 billion in system-wide sales in fiscal 2025, Wingstop offers made-to-order, always fresh classic and boneless wings, tenders, and chicken sandwiches in 12 bold, distinctive flavors, alongside signature sides and iconic housemade ranch and bleu cheese dips. Dedicated to Serving the World Flavor, Wingstop is the Official Chicken Partner of the NBA with a vision to become a Top 10 Global Restaurant Brand. Learn more at wingstop.com or follow @Wingstop on X, Instagram, Facebook and TikTok.

Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use non-GAAP financial measures, including those indicated above. By providing non-GAAP financial measures, together with a reconciliation to the most comparable GAAP measure, we believe we are enhancing investors’ understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. These measures are not intended to be considered in isolation or as substitutes for, or superior to, financial measures prepared and presented in accordance with GAAP. The non-GAAP measures used in this press release may be different from the measures used by other companies. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release. In addition, the Current Report on Form 8-K furnished to the Securities and Exchange Commission (the “SEC”) concurrent with the issuance of this press release includes a more detailed description of each of these non-GAAP financial measures, together with a discussion of the usefulness and purpose of such measures.

5

Forward-looking Statements

This news release includes statements of our expectations, intentions, plans and beliefs that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of our business strategies and our expectations concerning future operations, margins, profitability, trends, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “may,” “will,” “should,” “expect,” “intend,” “plan,” “outlook,” “guidance,” “anticipate,” “believe,” “think,” “estimate,” “seek,” “predict,” “can,” “could,” “project,” “potential” or, in each case, their negative or other variations or comparable terminology, although not all forward-looking statements are accompanied by such terms. Examples of forward-looking statements in this news release include, but are not limited to, our 2026 fiscal year outlook for domestic same store sales growth, global unit growth, SG&A expense, stock-based compensation expense, interest expense, net and depreciation and amortization. These forward-looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties, risks, and factors relating to our operations and business environments, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by these forward-looking statements. Please refer to the risk factors discussed in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be found at the SEC’s website www.sec.gov. The discussion of these risks is specifically incorporated by reference into this news release.

When considering forward-looking statements in this news release or that we make in other reports or statements, you should keep in mind the cautionary statements in this news release and future reports we file with the SEC. New risks and uncertainties arise from time to time, and we cannot predict when they may arise or how they may affect us. Any forward-looking statement in this news release speaks only as of the date on which it was made. Except as required by law, we assume no obligation to update or revise any forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

Media Contact

Brett LeVecchio

Media@wingstop.com

Investor Contact

Sarah Niehaus

IR@wingstop.com

6

WINGSTOP INC. AND SUBSIDIARIES

Consolidated Balance Sheets

(amounts in thousands, except share and per share data)

			September 26, 2026						December 27, 2025
			(Unaudited)
Assets
Current assets
Cash and cash equivalents			$    104,787						$    196,572
Restricted cash			25,994						25,994
Accounts receivable, net			32,729						20,823
Prepaid expenses and other current assets			11,752						7,956
Advertising fund assets, restricted			20,201						16,143
Total current assets			195,463						267,488
Property and equipment, net			160,132						130,581
Operating lease assets			52,226						48,637
Goodwill			102,650						83,875
Trademarks			32,700						32,700
Investments			93,614						87,164
Other non-current assets, net			49,820						42,964
Total assets			$    686,605						$    693,409
Liabilities and stockholders' deficit
Current liabilities
Accounts payable			$    18,503						$    12,846
Current portion of operating lease liabilities			3,623						3,232
Other current liabilities			49,876						49,744
Advertising fund liabilities			20,201						16,143
Total current liabilities			92,203						81,965
Long-term debt, net			1,211,349						1,209,094
Operating lease liabilities			60,698						58,080
Deferred revenues, net of current			52,526						47,721
Deferred income tax liabilities, net			42,134						33,142
Other non-current liabilities			243						169
Total liabilities			1,459,153						1,430,171
Commitments and contingencies
Stockholders' deficit
Common stock, $0.01 par value; 100,000,000 shares authorized; 27,053,023 and 27,540,619 shares issued and outstanding as of September 26, 2026 and December 27, 2025, respectively			271						275
Additional paid-in-capital			2,113						1,529
Retained deficit			(779,764)						(744,915)
Accumulated other comprehensive income (loss)			4,832						6,349
Total stockholders' deficit			(772,548)						(736,762)
Total liabilities and stockholders' deficit			$    686,605						$    693,409

7

WINGSTOP INC. AND SUBSIDIARIES

Consolidated Statements of Operations

(amounts in thousands, except per share data)

			Thirteen Weeks Ended
			September 26, 2026						September 27, 2025
			(Unaudited)						(Unaudited)
Revenue:
Royalty revenue, franchise fees and other			$    86,301						$    81,187
Advertising fees			64,050						62,018
Company-owned restaurant sales			34,780						32,531
Total revenue			185,131						175,736
Costs and expenses:
Cost of sales (1)			27,209						24,342
Advertising expenses			67,748						65,541
Selling, general and administrative			30,474						30,659
Depreciation and amortization			9,005						6,233
Total costs and expenses			134,436						126,775
Operating income			50,695						48,961
Interest expense, net			10,576						9,201
Investment (income) expense			94						128
Income before income tax expense			40,025						39,632
Income tax expense			10,921						11,154
Net income			$    29,104						$    28,478
Earnings per share
Basic			$    1.07						$    1.02
Diluted			$    1.07						$    1.02
Weighted average shares outstanding
Basic			27,128						27,899
Diluted			27,137						27,991
Dividends per share			$    0.33						$    0.30

(1) Cost of sales includes all operating expenses of company-owned restaurants, including advertising expenses, but excludes depreciation and amortization, which are presented separately.

8

WINGSTOP INC. AND SUBSIDIARIES

Unaudited Supplemental Information

Cost of Sales Margin Analysis

(amounts in thousands)

			Thirteen Weeks Ended
			September 26, 2026												September 27, 2025
			In dollars						As a % of company-owned restaurant sales						In dollars						As a % of company-owned restaurant sales
Cost of sales:
Food, beverage and packaging costs			$    12,838						36.9    %						$    11,782						36.2    %
Labor costs			8,606						24.7    %						7,502						23.1    %
Other restaurant operating expenses			6,755						19.4    %						5,828						17.9    %
Vendor rebates			(990)						(2.8)    %						(770)						(2.4)    %
Total cost of sales			$    27,209						78.2    %						$    24,342						74.8    %

9

WINGSTOP INC. AND SUBSIDIARIES

Unaudited Supplemental Information

Restaurant Count

			Thirteen Weeks Ended
			September 26, 2026						September 27, 2025
Domestic Franchised Activity
Beginning of period			2,671						2,357
Openings			59						93
Closures			(1)						—
Acquired by Company			(13)						—
Restaurants end of period			2,716						2,450
Domestic Company-Owned Activity
Beginning of period			57						54
Openings			1						1
Closures			—						—
Acquired by Company			13						—
Restaurants end of period			71						55
Total Domestic Restaurants			2,787						2,505
International Franchised Activity(1)
Beginning of period			527						407
Openings			21						22
Closures			(4)						(2)
Restaurants end of period			544						427
Total System-wide Restaurants			3,331						2,932

(1) Includes U.S. territories.

10

WINGSTOP INC. AND SUBSIDIARIES

Non-GAAP Financial Measures - EBITDA and Adjusted EBITDA

(Unaudited)

(amounts in thousands)

			Thirteen Weeks Ended
			September 26, 2026						September 27, 2025
Net income			$    29,104						$    28,478
Interest expense, net			10,576						9,201
Income tax expense			10,921						11,154
Depreciation and amortization			9,005						6,233
EBITDA			$    59,606						$    55,066
Additional adjustments:
System implementation costs (a)			—						2,063
Amortization of capitalized system implementation costs (b)			311						457
Stock-based compensation expense (c)			4,082						6,072
Adjusted EBITDA			$    63,999						$    63,658

(a) System implementation costs represent non-recurring expenses incurred related to the development and implementation of new enterprise resource planning, human capital management, and global development technology, which are included in Selling, general and administrative on the Consolidated Statements of Operations.

(b) Represents amortization associated with capitalized cloud computing costs related to our system implementation, which are included in Selling, general and administrative on the Consolidated Statements of Operations.

(c) Includes non-cash, stock-based compensation, net of forfeitures.

WINGSTOP INC. AND SUBSIDIARIES

Non-GAAP Financial Measures - Adjusted Net Income and Adjusted EPS

(Unaudited)

(amounts in thousands, except per share data)

11

			Thirteen Weeks Ended
			September 26, 2026						September 27, 2025
Numerator:
Net income			$    29,104						$    28,478
Adjustments:
System implementation costs (a)			—						2,063
Amortization of capitalized system implementation costs (b)			311						457
Tax effect of adjustments (c)			(75)						(605)
Adjusted net income			$    29,340						$    30,393
Denominator:
Weighted-average shares outstanding - diluted			27,137						27,991
Adjusted earnings per diluted share			$    1.08						$    1.09

(a) System implementation costs represent non-recurring expenses incurred related to the development and implementation of new enterprise resource planning, human capital management, and global development technology, which are included in Selling, general and administrative on the Consolidated Statements of Operations.

(b) Represents amortization associated with capitalized cloud computing costs related to our system implementation, which are included in Selling, general and administrative on the Consolidated Statements of Operations.

(c) Represents the tax effect of the aforementioned adjustments to reflect corporate income taxes at an assumed effective tax rate of 24% for the thirteen weeks ended September 26, 2026, which includes provisions for U.S. federal income taxes, and assumes the respective statutory rates for applicable state and local jurisdictions.

12

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 188.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.8 KB