Wendy’s: 3Q Earnings Snapshot
DUBLIN, Ohio (AP) _ Wendy’s Co. (WEN) on Tuesday reported third-quarter net income of $391.2 million.
On a per-share basis, the Dublin, Ohio-based company said it had profit of $1.60. Earnings, adjusted for non-recurring gains, came to 17 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The hamburger chain posted revenue of $400.6 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $406.4 million.
Wendy’s expects full-year earnings in the range of 56 cents to 58 cents per share.
Wendy’s shares have climbed 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.08, a climb of 14 percent in the last 12 months.