European Wax Center Q1 revenue $51.9M (+4%); same-store sales -1.2%; net income $3.7M vs loss; announces $50M buyback

European Wax Center, Inc.

Revenue $51.9M (+4.0% YoY); same-store sales -1.2%; system-wide sales $221.4M (+1.3%).
GAAP net income $3.7M vs loss of $1.1M; adjusted net income $4.8M (+41.3%); adjusted EBITDA $17.5M (+7.4%).
Board authorized $50M share repurchase program with no expiration date.
Reiterated FY2024 guidance: total revenue $225M-$232M, same-store sales +2% to +5%, adjusted EBITDA $75M-$80M.
Net new centers increased 7.5% to 1,051 total; franchisees opened 7 net new centers in Q1.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

European Wax Center, Inc. reported 13 weeks ended April 6, 2024 results: revenue $51.9 million, net income $3.7 million. Guidance reaffirmed.

Period: 13 weeks ended April 6, 2024
Revenue: $51.9 million
Net income: $3.7 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Quarter Fiscal 2024 versus 2023 • Net new centers increased 7.5% to 1,051 total centers in 45 states • System-wide sales of $221.4 million increased 1.3% • Total revenue of $51.9 million increased 4.0% • Same-store sales decreased 1.2% • GAAP net income of $3.7 million and Adjusted net income of $4.8 million • Adjusted EBITDA of $17.5 million increased 7.4%

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European Wax Center, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-059991

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