WEN (Pre-Call) Q3 Same-Store Sales a Little Frosty
By Mark Kalinowski
Published on November 6, 2018 at 12:00 AM
After today’s market close, Wendy’s (WEN; Neutral) reported adjusted Q3 EPS of $0.17, above our $0.15 forecast and the sell-side consensus (as measured by Consensus Metrix) of $0.15. We attribute the EPS beat to a lower-than-expected adjusted tax rate (15.0% vs. our 24.0% forecast and consensus of 23.7%).