Breaking News
0

Wendy's Stock Falls After Sales Decline

Stock Markets Aug 10, 2022 10:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
WEN
+2.71%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Sam Boughedda

Wendy's (NASDAQ:WEN) shares fell over 3% in early Wednesday trading after the company reported earnings before the opening bell, topping earnings estimates but missing revenue expectations.

The fast food chain reported second quarter earnings of $0.24 per share, $0.02 above the consensus estimate of $0.22. However, revenue for the quarter came in at $537.8 million, below the consensus estimate of $539.22 million.

Wendy's U.S. same-store sales increased 2.3% in the quarter, also missing analyst estimates of a 2.8% rise as inflation hits consumer wallets.

"Our business continued to outperform the competition and our franchisees are operating from a position of strength after achieving record profits across the US and Canada in 2021," said Wendy's President and Chief Executive Officer Todd Penegor.

Wendy's sees full-year 2022 earnings per share between $0.84 and $0.88, versus the consensus of $0.83, with global systemwide sales growth between 6% and 8%.

Reacting to the report, a Goldman Sachs analyst in a note to clients, stated: "We expect WEN to underperform today on the lower US SSS trends, margin miss, and lower than expected global unit growth."

Wendy's Stock Falls After Sales Decline
 

Related Articles

FedEx Earnings beat, Revenue misses In Q2
FedEx Earnings beat, Revenue misses In Q2 By Investing.com - Sep 28, 2022

Investing.com - FedEx (NYSE:FDX) reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations. FedEx announced earnings...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email