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Wendy’s Co. earnings rise by14.9%, while adjusted profit beats analyst estimates

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Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.

Wendy’s Co.’s stock WEN, -0.16% was up 1.9% in premarket trading on Thursday after the fast-food specialist said its third-quarter profit rose by 14.9%. Wendy’s said its third-quarter net income increased to $58 million, or 28 cents a share, from $50.5 million, or 24 cents a share, in the year-ago quarter.

Third-quarter adjusted earnings at the Dublin, Ohio-based company rose to 27 cents a share from 24 cents a share, ahead of the FactSet consensus estimate of 25 cents a share. Revenue increased by 3.4% to $550.6 million, below the analyst consensus estimate of $555.5 million. Wendy’s stuck to its expectation for adjusted 2023 earnings of 95 cents to $1 a share, against the analyst consensus estimate of 98 cents a share.

 

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