secwatch.observer — SEC 8-K summary
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Issuer:     European Wax Center, Inc. (EWCZ)
CIK:        0001856236
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0000950170-24-059991
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856236/000095017024059991/0000950170-24-059991-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856236/000095017024059991/ewcz-20240515.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-059991

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer