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Wendy's Trades Higher On Q3 Earnings Beat

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Wendy's Trades Higher On Q3 Earnings Beat

Wendy's (NASDAQ: WEN) reported third-quarter earnings of 19 cents per share on Wednesday, which beat the analyst consensus estimate of 15 cents by 26.67%. This is a 11.76% increase over earnings of 17 cents per share from the same period last year.

The company reported quarterly sales of $437.9 million, which beat the analyst consensus estimate of $434.49 million by 0.78%. This is a 9.32% increase over sales of $400.55 million the same period last year.

"We delivered a strong quarter of sales and earnings growth, demonstrating that we are building an even stronger foundation for the Wendy's brand," CEO Todd Penegor said in a statement. "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."

Wendy's shares were trading up 4.1% at $21.70 in Wednesday’s pre-market session. The stock has a 52-week high of $22.84 and a 52-week low of $14.96.

Posted-In: Earnings News Restaurants Pre-Market Outlook General Best of Benzinga

 

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