earnings
confidence high
sentiment neutral
materiality 0.70
European Wax Center Q2 revenue $53.4M (+11.4% YoY); same-store sales +6.7%; raises FY22 center opening outlook
European Wax Center, Inc.
- Total revenue $53.4M (+11.4% YoY); same-store sales +6.7%; system-wide sales $231.1M (+5.7%).
- GAAP net income $2.0M vs $7.7M prior year; Adjusted EBITDA $18.6M vs $19.8M prior year, down 5.9%.
- Completed debt refinancing and issued special dividend of $3.30 per share.
- Raised FY22 net new center openings outlook to 83-85 (from 70-72); reaffirmed total revenue and Adjusted EBITDA guidance.