Wendy's (NASDAQ: WEN) reported Q4 EPS of $0.08, $0.01 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $309.9 million versus the consensus estimate of $308.53 million.

"We have now recorded 16 consecutive quarters of positive same-restaurant sales and total new restaurant openings have accelerated in both North America and International with nearly 150 new restaurants opened globally in 2016," President and Chief Executive Officer Todd Penegor said. "As a result of our brand transformation efforts and with the support from our franchise partners, the Wendy\'s® system has never been stronger."

"As we look to 2017 and beyond, we are poised for strong global growth," Penegor said. "We believe we can grow the Wendy's system by approximately 1,000 restaurants and $2 billion in sales by 2020, resulting in a global system of about 7,500 restaurants generating $12 billion in sales. Importantly, this growth will be achieved in a profitable manner for both the Company and franchisees, which will help carry the momentum beyond 2020."

During 2017, the Company expects:

• Adjusted EBITDA of approximately $396 to $404 million, an increase of approximately 1 to 3 percent compared to 2016.
• Adjusted earnings per share of approximately $0.45 to $0.47, an increase of approximately 13 percent to 18 percent compared to 2016.
• Same-restaurant sales growth of approximately 2 to 3 percent for the North America system.
• Flat Company-operated restaurant margin compared to 2016.
• Flat commodity costs compared to 2016.
• Labor inflation of approximately 4 percent.
• General and administrative expense of approximately $210 to $220 million.
• Interest expense of approximately $115 million.
• Depreciation and amortization expense of approximately $120 million, including accelerated depreciation of approximately $2 million.
• Cash flows from operations of approximately $240 to $275 million.
• Capital expenditures of approximately $80 to $90 million.
• Free cash flow (cash flows from operations minus capital expenditures) of approximately $160 to $185 million.
• An adjusted tax rate of approximately 32 to 34 percent.

"After achieving solid results in 2016, we are pleased to turn the page with a strong outlook for 2017," Plosch said. "This will be the final year of transition after completing the third phase of system optimization. Our ability to grow earnings and cash flow despite owning fewer Company-operated restaurants is compelling. We look forward to focusing on our core business model and driving growth even further."

Company announces updated 2020 goalsThe Company now expects to achieve the following goals by the end of 2020:

• Global restaurant sales (in constant currency and excluding Venezuela) of ~$12 billion.
• Global restaurant count of ~7,500.
• Global Image Activation of at least 70 percent.
• Adjusted EBITDA Margin of 38 to 40 percent.
• Free Cash Flow of ~$275 million (capital expenditures of ~$65 million).

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