Categories Earnings, Retail

The Wendy’s Company (NASDAQ: WEN): Q3 2019 Earnings Snapshot

— The Wendy’s Company (NASDAQ: WEN) reported adjusted earnings of $0.19 per share for the third quarter of 2019, vs. $0.15 per share expected.

— Reported profit was $46.13 million or $0.20 per share, compared to $391.2 million or $1.60 per share last year

— Revenues increased to $437.88 million from $400.55 million in the same period of last year, vs. $434.7 million expected

— The company had 40 global restaurant openings and an increase of 24 net new restaurants during the quarter

— Continues to expect 2019 global net new restaurant growth of approximately 1.5%

— Around 56% of the global system was image activated at the end of the third quarter

— Repurchased 1.3 million shares for $26.4 million during the quarter

— Currently expects global systemwide sales to grow ~3.0-4.0% in fiscal 2019, down from the previous outlook

— Expects full-year adjusted earnings to drop ~3.5-6.5% year-over-year

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