Wednesday March 1, 2023, 13:09:14

WEN (Post-Call): Put Another Set of Financial Targets on the Barbie, Mate

By Mark Kalinowski

Earlier today, Wendy’s reported adjusted Q4 EPS of $0.22, coming in ahead of our $0.19 forecast and sell-side consensus (according to Consensus Metrix) of $0.20. Fourth-quarter adjusted EBITDA was $123.5 million, which had been pre-announced back on January 13th. Also pre-announced at that time was Q4 U.S. same-store sales growth of +5.9%.

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Friday January 13, 2023, 09:18:50

WEN: Doubles its Dividend, Sales Strong, But Largest Shareholder Won’t Bid for It

By Mark Kalinowski

Earlier today, Wendy’s pre-announced its Q4 results, and updated its capital allocation plans. Overall, we view most of the key points as positive for Wendy’s, although we do note that its largest shareholder is no longer considering acquiring Wendy’s outright. While we believe this outcome was widely anticipated on the Street, it may still hamper the stock in trading today. Nevertheless, we’d remain buyers of WEN.

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Wednesday November 9, 2022, 09:41:45

WEN (Post-Call): Q3 Results as Craveable as Homestyle French Toast Sticks

By Mark Kalinowski

Earlier today, Wendy’s reported adjusted Q3 EPS of $0.24, coming in slightly above our $0.23 forecast and sell-side consensus (according to Consensus Metrix) of $0.23. Wendy’s targets full-year 2022 adjusted EPS of $0.84-$0.88, which by our math implies a Q4 target range of $0.19-$0.23. We stick with our $0.22 EPS estimate for Q4E; consensus as of this writing is at $0.21.

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