Wendy's (NASDAQ: WEN) reported Q2 EPS of $0.15, $0.02 better than the analyst estimate of $0.13. Revenue for the quarter came in at $320.34 million versus the consensus estimate of $301.75 million.

During 2017, the Company now expects:

• Commodity cost inflation of approximately 3 to 4 percent compared to 2016.
• Company-operated restaurant margin of approximately 18.0 to 18.5 percent.
• Net franchise rental income of approximately $100 to $105 million.
• Adjusted EBITDA of approximately $404 to $410 million, an increase of approximately 3 to 5 percent compared to 2016.
• Interest expense of approximately $115 to $120 million.
• Depreciation and amortization expense of approximately $120 to $125 million, including accelerated depreciation of approximately $1 million.

In addition, the Company continues to expect:

• Same-restaurant sales growth of approximately 2 to 3 percent for the North America system.
• Labor inflation of approximately 4 percent.
• General and administrative expense at the low end of its previously issued range of approximately $210 to $220 million.
• An adjusted tax rate of approximately 32 to 34 percent.
• Adjusted earnings per share of approximately $0.45 to $0.47, an increase of approximately 13 percent to 18 percent compared to 2016.
• Cash flows from operations of approximately $240 to $275 million.
• Capital expenditures of approximately $80 to $90 million.
• Free cash flow of approximately $160 to $185 million.

Company on track to achieve 2020 goalsThe Company continues to expect to achieve the following goals by the end of 2020:

• Global systemwide 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.