Why Did Wingstop Shares Leap 20% Yesterday?
Wingstop (WING) shares jumped over 20% on July 28 to close at $119.80 after the company delivered an impressive second-quarter earnings beat and reiterated its FY2022 earnings guidance above analysts'' expectations. Notably, the easing in commodity inflation, as seen in the 18.8% year-over-year decrease in the cost of bone-in chicken wings, acted as a tailwind. Based in the U.S., Wingstop is the franchisor and operator of restaurants that engage in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. WING Q2 Numbers Notably, adjusted earnings of $0.45 per share grew 20.1% year-over-year and beat analysts’ expectations of $0.36 per share. The company reported earnings of $0.
Why Did Wingstop Shares Leap 20% Yesterday?
Wingstop (WING) shares jumped over 20% on July 28 to close at $119.80 after the company delivered an impressive second-quarter earnings beat and reiterated its FY2022 earnings guidance above analysts'' expectations. Notably, the easing in commodity inflation, as seen in the 18.8% year-over-year decrease in the cost of bone-in chicken wings, acted as a tailwind. Based in the U.S., Wingstop is the franchisor and operator of restaurants that engage in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. WING Q2 Numbers Notably, adjusted earnings of $0.45 per share grew 20.1% year-over-year and beat analysts’ expectations of $0.36 per share. The company reported earnings of $0.