Wendy’s tops profit expectations but misses on revenue, as U.S. sales growth comes up shy
Shares of Wendy’s Co. WEN slipped 0.2% in premarket trading Wednesday, after the fast-food burger chain reported second-quarter profit that topped expectations but revenue that came up shy, while affirming the full-year outlook. Net income rose to $59.6 million, or 28 cents a share, from $48.2 million, or 22 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 28 cents from 24 cents and topped the FactSet consensus of 27 cents. Revenue grew 4.
2% in premarket trading Wednesday, after the fast-food burger chain reported second-quarter profit that topped expectations but revenue that came up shy, while affirming the full-year outlook. Net income rose to $59.6 million, or 28 cents a share, from $48.2 million, or 22 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 28 cents from 24 cents and topped the FactSet consensus of 27 cents. Revenue grew 4.4% to $561.
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