Loading...
Loading...
- Wendy's Co WEN reported first-quarter FY23 sales growth of 8.2% year-on-year to $528.81 million, beating the consensus of $522.43 million.
- Adjusted revenues increased 7.9% to $427.4 million. Systemwide sales in the U.S. rose 8.6%, and International increased 21%. Global same-restaurant sales growth was 8%. U.S. company-operated restaurant margin was 14.7% versus 12.0% a year ago.
- Operating margin was 15.9%, and operating income for the quarter rose 12.8% Y/Y to $84.5 million.
- Adjusted EBITDA increased 17.5% Y/Y to $125.6 million. Adjusted EPS of $0.21 beat the consensus of $0.20.
- The company held $740.6 million in cash and equivalents. Cash provided by operating activities for the quarter totaled $53 million, with a free cash flow of $63.7 million.
- As of May 3, approximately $437.6 million remains available under the company’s existing share repurchase authorization that expires in February 2027.
- The company declared its regular quarterly cash dividend to $0.25 per share, payable on June 15, 2023, to shareholders of record as of June 1, 2023.
- Outlook: Wendy's continues to expect FY23 adjusted EPS of $0.95 - $1.00 versus the consensus of $0.98.
- WEN sees FY23 global systemwide sales growth of 6% to 8%. The company expects FY23 adjusted EBITDA of $530 million - $540 million.
- For the long-term 2024 – 2025, Wendy's maintains systemwide sales growth of mid-single digits and free cash flow growth of high-single to low-double digits.
- Price Action: WEN shares are trading higher by 1.00% at $23.20 in premarket on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in