Wingstop Inc. (NASDAQ:WING) Q3 2023 Earnings Conference Call November 1, 2023 10:00 AM ET

Company Participants

Alex Kaleida - Senior Vice President & Chief Financial Officer

Michael Skipworth - President & Chief Executive Officer

Conference Call Participants

Pratik Patel - Barclays

David Tarantino - Baird

Sara Senatore - Bank of America

Andy Barish - Jefferies

Joshua Long - Stephens

Brian Harbour - Morgan Stanley

Andrew Charles - TD Cowen

Karen Holthouse - Citi

Daniel Gold - BMO

Michael Tamas - Oppenheimer & Company

Peter Saleh - BTIG

Jake Bartlett - Truist

Operator

Good morning, ladies and gentlemen and thank you for standing by. Welcome to the Wingstop Inc. Fiscal Third Quarter 2023 Earnings Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note that this conference is being recorded today, Wednesday, November 1, 2023. On the call today are Michael Skipworth, President and Chief Executive Officer; and Alex Kaleida, Senior Vice President and Chief Financial Officer.

I would now like to turn the conference over to Alex. Please go ahead.

Alex Kaleida

Thank you, and welcome to the Fiscal Third Quarter 2023 Earnings Conference Call for Wingstop. Our results were published earlier this morning and are available on our Investor Relations website at ir.wingstop.com. Our discussion today includes forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties that could cause our actual results to differ materially from what we currently expect. Our SEC filings describe various risks that could affect our future operating results and financial condition. We use certain non-GAAP financial measures that we believe can be useful in evaluating our performance. Presentation of such information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are contained in our earnings release. Lastly, for the Q&A session, we ask that you please each keep to one question and a follow-up to allow as many participants as possible to ask a question.

With that, I would like to turn the call over to Michael.

Michael Skipworth

Good morning, and thank you for joining our call. It is an exciting time at Wingstop, and I'm honored to be leading such a talented team who delivered industry-leading results year after year. Our AUVs now average $1.8 million and we are on track for our 20th consecutive year of same-store sales growth. Wingstop continues to see double-digit transaction growth, a true sign of the underlying health and momentum of our brand. In fact, we exited the quarter with more momentum than when we started.