European Wax Center Q3: revenue +12.3% to $55M, raises FY net new center outlook to 88-90, approves $40M buyback

European Wax Center, Inc.

System-wide sales $235.2M (+7.3% YoY); same-store sales +4.7%; net income $5.3M vs loss $9.3M prior year.
Adjusted EBITDA $18.6M (+12.6%); Adjusted net income $6.7M vs $8.5M prior year.
FY 2022 net new center openings raised to 88-90 from 83-85; total revenue guidance narrowed to $202-205M.
Board approved a $40M share repurchase program, citing free cash flow and asset-light model.
Ended Q3 with $41.6M cash, $399M senior secured notes outstanding; no revolver borrowings.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

European Wax Center, Inc. reported financial results for 13 and 39 weeks ended September 24, 2022.

Period: 13 and 39 weeks ended September 24, 2022
Result: reported results

Exact text from the filing

On November 3, 2022, European Wax Center, Inc. issued the press release attached hereto as Exhibit 99.1 reporting its financial results for the 13 and 39 weeks ended September 24, 2022.

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Source: SEC EDGAR

accession 0000950170-22-021921

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