Filing Flows › Wingstop (WING) › Q2 2025
Wingstop (WING) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Wingstop (WING) reported revenue of $174M for the second quarter 2025 (Q2 2025), +12% from a year earlier and +2% from the quarter before. Operating margin was 25.9%, net earnings $26.8M (15.4% of revenue).
Wingstop, Q2 2025: revenue $174M (+12% year over year), operating margin 25.9%, net earnings $26.8M, operating cash flow $6.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $174M | +2% | +12% |
| Operating profit | $45.2M | +18% | +10% |
| Net earnings | $26.8M | -71% | -3% |
| Operating cash flow | $6.6M | -74% | -82% |
What changed
Revenue was $174.3M in Q2 2025, up 12% year over year and up 2% from the previous quarter. Royalty revenue, franchise fees and other was the largest line at 46% of revenue. Royalty revenue, franchise fees and other added $8.7M year over year (up 12%), 47% of the total change.
Operating profit was $45.2M, a 25.9% margin (down 0.5 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, below the 26% margin then. Total costs grew 13% against revenue growth of 12%. The fastest-growing cost line was SG&A (+17%). Net earnings were $26.8M, down 3% year over year. The effective tax rate was 27.2%.
Operating cash flow was $6.6M (down 82% year over year), 25% of net earnings. Non-cash charges added back $6.2M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items used $32.6M. Capital expenditures of $14.4M exceeded it, leaving free cash flow of −$7.8M.
Questions
What was Wingstop's revenue in the second quarter 2025?
Wingstop (WING) reported revenue of $174M for the second quarter 2025 (Q2 2025), +12% from a year earlier and +2% from the quarter before.
Was Wingstop profitable in the second quarter 2025?
Operating profit was $45.2M (25.9% of revenue) and net earnings $26.8M.
Source: Wingstop 10-Q on SEC EDGAR.