Wendy’s reports Q1 EPS 23c, consensus 21c

Reports Q1 revenue $534.8M, consensus $541.0M. “The momentum we built across our business in the first quarter puts us on track to achieve our 2024 outlook and on the path toward unlocking the full potential of the powerful Wendy’s(R) brand,” CEO Kirk Tanner said. “We delivered global same-restaurant sales growth, which accelerated by 120 basis points on a two-year basis versus the previous quarter. This was driven in part by high-single digit year-over-year U.S. breakfast sales growth and global digital sales mix of nearly 17%. This performance supported a 60 basis point expansion in U.S. Company-operated restaurant margin versus the prior year, illustrating the benefits of these profitable initiatives. We remain focused on executing against our plans and investments through a customer-centric approach, supporting our ability to drive long-term shareholder value.”