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Wendy's (WEN) Tops Q1 EPS by 6c, Revenues Beat; Offers FY21 EPS Guidance Above Consensus

May 12, 2021 7:02 AM EDT

Wendy's (NASDAQ: WEN) reported Q1 EPS of $0.20, $0.06 better than the analyst estimate of $0.14. Revenue for the quarter came in at $460.2 million versus the consensus estimate of $444.31 million.

"We are increasing our 2021 financial outlook meaningfully across all key financial metrics, driven by an outstanding first quarter that underscores our continued momentum and the overall strength of our business," President and Chief Executive Officer Todd Penegor said. "The robust growth in our business continued in the first quarter of 2021 as sales significantly exceeded our expectations and fueled our restaurant economic model, leading to outsized profits. We remain committed to our three long-term growth pillars—significantly building our breakfast daypart, accelerating our digital business, and expanding our footprint across the globe—and continue to make great progress. I have never been more confident that we will achieve our vision of becoming the world's most thriving and beloved restaurant brand as our System is stronger and more aligned than ever."

GUIDANCE:

Wendy's sees FY2021 EPS of $0.72-$0.74, versus the consensus of $0.69.

During 2021, the Company Now Expects:

  • Global systemwide sales growth: 8 to 10 percent (excluding the impact of the 53rd week)
  • Adjusted EBITDA: $455 to $465 million
  • Adjusted earnings per share: $0.72 to $0.74
  • Cash flows from operations: $330 to $350 million
  • Capital Expenditures: $80 to $90 million
  • Free cash flow: $250 to $260 million

For earnings history and earnings-related data on Wendy's (WEN) click here.



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