Wendy's stock bolstered as sales guidance offsets weaker-than-expected second-quarter earnings

By Ciara Linnane

An earlier version of this article had the wrong numbers for both quarters as the company's table read from left to right. It has been corrected.

Wendy's Inc. 's stock rose 2.4% early Thursday, after the fast-food company's second-quarter earnings miss was offset by better-than-expected sales guidance.

The Dublin, Ohio-based company had net income of $54.6 million, or 27 cents a share, for the quarter, down from $59.6 million, or 28 cents a share, in the year-earlier period.

Adjusted per-share earnings were 27 cents, a penny below the 28-cent FactSet consensus.

Revenue rose to $570.7 million from $561.6 million a year ago, below the $577.0 million FactSet consensus.

Same-restaurant sales rose 0.8% globally and were up 0.6% in the U.S. The FactSet consensus was for a 2.7% rise.

The company now expects global sales growth of 3% to 5% for 2024, and still expects adjusted EPS to range from 98 cents to $1.02.

The FactSet consensus is for sales to grow 2.7% and for EPS of 99 cents.

The stock was up 1.4% premarket but is down 13% in the year to date, while the S&P 500 has gained 15.8%.

-Ciara Linnane

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08-01-24 0806ET

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