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The Wendy’s Company Reported Q2 EPS Beat, Revenues Slightly Worse Than Expected

The Wendy’s Company (NASDAQ:WEN) reported its Q2 results, with EPS of $0.24 coming in better than the Street estimate of $0.22. Revenue was $537.8 million, compared to the Street estimate of $539.22 million.
The company provided its full 2022-year outlook, expecting EPS in the range of $0.84-$0.88, compared to the Street estimate of $0.83. Global systemwide sales growth is expected in the range of 6-8%.
According to the analysts at RBC Capital, post-results Street estimates likely come down on reduced unit growth, however, they believe focus on traditional development (rather than delivery/non-traditional)— particularly in newer international markets—may ultimately prove more beneficial in the long run. The analysts adjusted their price target on the company’s shares to $21 from $22, while reiterating their sector perform.

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