secwatch.observer — SEC 8-K summary
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Issuer:     European Wax Center, Inc. (EWCZ)
CIK:        0001856236
Form:       8-K/A
Filed at:   2024-11-15T23:59:59+00:00
Accession:  0000950170-24-127701
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EWCZ Q3 net income down 50.7%; reiterates FY24 financial outlook, cuts net new centers forecast
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- Q3 revenue $55.4M (-0.5% YoY); GAAP net income $2.0M (-50.7%); adjusted net income $5.5M (-8.2%).
- Same-store sales -0.5%; system-wide sales $240.2M (-0.2%); Adj. EBITDA $18.4M (-4.4%).
- FY2024 outlook reiterated: total revenue $216-221M, Adj. EBITDA $70-74M, system-wide sales $930-950M.
- Net new centers outlook lowered to 17-22 from 27-32; expects 43 gross openings but 21-26 permanent closures.
- Balance sheet: $48.0M cash, $391M senior secured notes; repurchased $20.1M of stock in Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856236/000095017024127701/0000950170-24-127701-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856236/000095017024127701/ewcz-20241114.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-127701

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