European Wax Center reports Q1 revenue $51.9M, consensus $51.9M

Reports Q1 Adjusted EBITDA $17.498M vs. $16.294M last year. Reports Q1 Same-store sales decreased 1.2%. David Willis, CEO of European Wax Center, Inc. stated, “We began 2024 with stable frequency and spend among our existing guests which led to positive system-wide sales and revenue growth in the first quarter and underpins our predictable, recurring business model. Further, continued franchisee demand drove new center growth in-line with our expectations. We’re pleased that our development pipeline remains robust and supported by our well-capitalized and committed franchisees.”