Wendy’s: 2Q Earnings Snapshot
DUBLIN, Ohio (AP) _ Wendy’s Co. (WEN) on Tuesday reported second-quarter net income of $29.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dublin, Ohio-based company said it had profit of 12 cents. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 14 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The hamburger chain posted revenue of $411 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $407.6 million.
Wendy’s expects full-year earnings in the range of 55 cents to 57 cents per share.
Wendy’s shares have climbed nearly 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.01, an increase of 10 percent in the last 12 months.