Wendy's Reports Mixed Q4 Report

Fast food hamburger chain Wendys Co (NASDAQ: WEN) reported preliminary results for its fourth quarter.

Wendys reported it earned $0.08 per share in the fourth quarter on revenue of $309.9 million. Wall Street analysts were expecting the company to earn $0.09 per share on revenue of $308.5 million.

Wendys plans to file its audited financial results on or before March 2.

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Highlights

• Revenue fell from $464.4 million from the same quarter a year ago due to the ownership of 522 fewer company-operated restaurants.
• Franchise royalty revenue fell to $95.7 million from $100.8 million a year ago due to a reduction in the number of restaurants sold through the company's system optimization initiative.
• Same-restaurant sales rose 0.8 percent in North America, or 5.6 percent on a two-year basis.
• Company-operated restaurant margin fell to 18.8 percent from 19.2 percent a year ago due to higher operating costs and higher labor rates which were partly offset by lower commodity costs.
• Wendys guided its full year fiscal 2017 earnings per share to a range of $0.45 to $0.47 versus the consensus estimate of $0.46 per share.
• Wendys also set a guideline of recording $12 billion of global restaurant sales by 2020.