Published on 3 May 2024 on Zacks via Yahoo Finance

Wendy's (WEN) Q1 Earnings Beat Estimates, Revenues Lag

The Wendy's Company WEN reported first-quarter fiscal 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top and the bottom line increased on a year-over-year basis. Solid same-restaurant sales and strength in U.S. breakfast sales and digital sales momentum aided the company’s performance. Following the announcement, Wendy's shares moved up 1.5% during the trading session on May 2.

Q1 Earnings & Revenues

WEN reported adjusted earnings per share (EPS) of 23 cents, beating the Zacks Consensus Estimate of 21 cents. In the prior-year quarter, it reported adjusted EPS of 21 cents.Revenues of $534.8 million missed the consensus mark of $541 million. The top line inched up 1.1% on a year-over-year basis on the back of net new restaurant development and higher same-restaurant sales. Also, a rise in franchise royalty revenues and advertising funds revenues added to the upside.