Wendy’s reported lower-than-expected growth in same-store sales, and had marginally higher earnings compared to analysts’ estimates.
The fast food restaurant chain raked in 16 cents per share for the three months ending December, beating analysts’ estimates by only a penny. It is 9 cents a share higher compared to the year-ago quarter.
Total revenues rose +3.6% year-over-year to $397.8 million in the quarter, shy of analysts’ expectation of $400 million (according to the Street). Sales in stores opened for at least 15 months increased +0.2%, below the +0.74% consensus collected by I/E/B/S Refinitiv.
For 2019, Wendy’s forecasts adjusted earnings to be the range of 61 to 66 cents per share, up from 59 cents in 2018. The projection is lower than the Street prediction of 66 cents a share.