Wendy's Co. Q2 Adj. EPS Tops View; Maintains Fy23 Outlook
(RTTNews) - The Wendy's Co. (WEN) reported Wednesday that net income for the second quarter increased to $59.63 million or $0.28 per share from $48.15 million or $0.22 per share in the prior-year quarter. Excluding items, adjusted earnings per share were $0.28 per share, compared to $0.24 per share last year.
Total revenues for the quarter grew 4.4 percent to $561.57 million from $537.78 million in the same quarter last year. Adjusted revenue increased 4.4 percent to $451.77 million from last year. Same-restaurant sales growth was 5.1 percent.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share on revenues of $566.95 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company continues to project adjusted earnings in a range of $0.95 to $1.00 per share on global systemwide sales growth of 6 to 8 percent.
The Street is looking for earnings of $0.98 per share on revenues of $2.21 billion for the year.
The company also maintained its long-term outlook for 2024-2025 for systemwide sales growth in the mid-single digits.
The Company also declared its regular quarterly cash dividend of 25 cents per share, payable on September 15, 2023, to shareholders of record as of September 1, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Wendy's Co. Guides FY22 Adj. EPS In Line; Q4 Results Top Estimates
Wendy's Q3 Adj. EPS Tops Estimates; Backs FY22 Profit Outlook
Wendy's Co. Boosts FY22 Adj. EPS Outlook; Q2 Adj. EPS Tops Estimates
CAC 40 Drops To 3-week Low On Widespread Selling
DAX Down Sharply As Stocks Tumble On Growth Worries
Sensex Drops Over 500 Points; Nifty Ends Below 25,600
Indian Rupee Rises To 5-day High Against U.S. Dollar
