Wendy’s reports Q4 adjusted EPS 21c, consensus 23c

Reports Q4 revenue $540.7M, consensus $546.82M. Reports Q4 global same-restaurant sales growth 1.3%; U.S 0.9%; International 4.3%. “The Wendy’s system delivered strong sales, profit, and cash flow growth in 2023, all supported by progress on our strategic growth pillars,” President and Chief Executive Officer Kirk Tanner said. “2023 marked the brand’s 13th consecutive year of global same-restaurant sales growth, highlighting the system’s consistent execution and strong franchisee alignment as the team continued to grow the beloved Wendy’s brand. The team also significantly accelerated digital sales, opened nearly 250 new restaurants across the globe, and expanded U.S. Company-operated restaurant margin to pre-COVID levels despite extreme inflationary headwinds in recent years. I am excited to begin this next chapter for Wendy’s with new plans and investments to accelerate our global growth, deliver significant restaurant margin expansion, and drive long-term shareholder value. I am looking forward to working with the team to deliver on the significant opportunities ahead.”