12:48 PM EDT, 07/30/2025 (MT Newswires) -- (Updates with stock movement in the headline and first paragraph and add Truist note starting in sixth paragraph.)

Wingstop ( WING ) shares rose 26% in recent Wednesday trading after the company posted a surprise increase in fiscal Q2 earnings and revenue that exceeded Wall Street estimates.

Adjusted earnings rose to $1 per diluted share from $0.93 a year earlier, the company said Wednesday.

Analysts polled by FactSet expected $0.87.

Revenue in the 13 weeks ended June 28 rose to $174.3 million from $155.7 million a year earlier.

Analysts surveyed by FactSet expected $173.7 million.

Stronger-than-expected restaurant-level margins, general and administrative costs that trailed estimates and new store development drove Q2 results, Truist Securities said Wednesday in a note.

Management reiterated fiscal 2025 same-store sales guidance despite some data indicating weaker sales trends, Truist said. The forecast implies growth acceleration in H2 from a year earlier and gains from the Smart Kitchen initiative, the note said.

Wingstop ( WING ) opened 129 net new locations in Q2, topping estimates and raised full-year new store growth guidance to 17% to 18%, the note said.

Truist has a buy rating on Wingstop's ( WING ) stock with a $400 price target.

Price: 366.30, Change: +76.00, Percent Change: +26.18