- Wendy’s Co WHOM reported Revenue growth in Q3 FY22 of 13.3% year-over-year to $532.57 million, missing the consensus of $539.41 million. Adjusted sales rose 15.2% to $429 million.
- Global systemwide sales increased 8.9%, with U.S. systemwide sales up 7.7% and international up 18.3%.
- Global same-restaurant sales growth was 6.9%. The margin of the company’s restaurants declined 10 basis points to 14.3%.
- General and administrative expenses increased 0.5% year over year to $62.5 million. Operating margin was 18.41% and operating income for the quarter increased 22.4% year over year to $98.1 million.
- Adjusted EBITDA increased 19.9% year over year to $134.5 million. Adjusted EPS of $0.24 beat the consensus of $0.23.
- The Company had $820.9 million in cash and cash equivalents as of October 2, 2022. Year-to-date cash inflows from operations totaled $182.6 million.
- The Company’s regular quarterly cash dividend of $0.125 per share is payable on December 15, 2022 to shareholders of record on December 1, 2022.
- Outlook: Wendy’s continues to expect FY22 adjusted earnings per share to be in the range of $0.84 to $0.88 versus consensus of $0.85.
- Company now expects FY22 global system-wide revenue growth of 6% to 7% (previous view 6%-8%).
- Price promotion: WEN shares are trading up 1.08% at $20.63 on the last check Wednesday premarket.
- Photo via company
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