Wendy’s(WEN) Expects Positive Q2 Comps, Reaffirms FY12 adj.-EBITDA Outlook
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The Wendy’s Company (Nasdaq: WEN) reported positive preliminary same-store sales for the second quarter of fiscal 2012 and reaffirmed its 2012 outlook for adjusted EBITDA from continuing operations in advance of its June 28 Investor Day.
For the second quarter ending July 1, 2012, the Company expects to report a same-store sales increase of approximately 3.0 percent for Wendy’s® North America Company-operated restaurants. This will be fifth consecutive quarter of positive same-store sales at Company-operated restaurants.
Based on results to date, the Company is reaffirming its 2012 outlook for Adjusted EBITDA from continuing operations in a range of $320 million to $335 million. The outlook for Adjusted EBITDA from continuing operations excludes items such as anticipated debt extinguishment costs, as well as relocation costs and other expenses from the consolidation of the Atlanta restaurant support center with the Dublin, Ohio restaurant support center.
The Company continues to target an average annual Adjusted EBITDA growth rate in the high-single-digit to low-double-digit range beginning in 2013.
For the second quarter ending July 1, 2012, the Company expects to report a same-store sales increase of approximately 3.0 percent for Wendy’s® North America Company-operated restaurants. This will be fifth consecutive quarter of positive same-store sales at Company-operated restaurants.
Based on results to date, the Company is reaffirming its 2012 outlook for Adjusted EBITDA from continuing operations in a range of $320 million to $335 million. The outlook for Adjusted EBITDA from continuing operations excludes items such as anticipated debt extinguishment costs, as well as relocation costs and other expenses from the consolidation of the Atlanta restaurant support center with the Dublin, Ohio restaurant support center.
The Company continues to target an average annual Adjusted EBITDA growth rate in the high-single-digit to low-double-digit range beginning in 2013.
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