Wendy's (WEN) Tops Q3 EPS by 4c, Revenues Beat
Wendy's (NASDAQ: WEN) reported Q3 EPS of $0.19, $0.04 better than the analyst estimate of $0.15. Revenue for the quarter came in at $437.9 million versus the consensus estimate of $434.49 million.
"We delivered a strong quarter of sales and earnings growth, demonstrating that we are building an even stronger foundation for the Wendy's® brand," President and Chief Executive Officer Todd Penegor said. "We remain relentlessly focused on executing our plan to accelerate same-restaurant sales and drive global restaurant expansion across the globe. We are well positioned to drive growth in 2020 and beyond to achieve our vision of becoming the world's most thriving and beloved restaurant brand, and to become an accelerated, efficient growth company."
Company on Track to Achieve New 2020 Goals:
- Global systemwide sales of approximately $12.0-$12.5 billion.
- Adjusted EBITDA of approximately $425-$435 million.
- Free cash flow of approximately $235-$245 million, excluding the approximately $20 million tax-effected impact from the proposed settlement of the Financial Institutions case, which the Company expects to occur in early 2020. Including the impact of the proposed settlement, the Company expects free cash flow of approximately $215-$225 million.
For earnings history and earnings-related data on Wendy's (WEN) click here.
