Wendy's Releases Preliminary Results, Gives Upbeat Guidance
Wendy's has reported preliminary, unaudited Q4 and 2012 results showing that for the full year, the company had $2.5 billion in revenue, a 3% year-over-year increase.
Net income from continuing operations landed at $4 million, substantially blow the nearly $18 million it netted in 2011. At the end of last year, the company's restaurant count amounted to 6,560; 374 of those outlets were located abroad.
For Q4, revenue was $630 million (up 2.4% year over year) and net profit from continuing operations came in at $21 million. The latter figure represented earnings per share of $0.06. This beat analyst expectations of $0.04, although the market had anticipated a higher revenue figure of just under $640 million. The company reported EPS from continuing operations of $0.01 in Q4 2011.
Going forward, Wendy's provided 2013 guidance of $0.18-$0.20 in adjusted earnings per share, slightly above the $0.17 expected by analysts. It believes same-store sales growth in its North American company-operated restaurants will come in at 2%-3% on a year-over-year basis.
The company will release its audited 2012 results on Feb. 28.
The article Wendy's Releases Preliminary Results, Gives Upbeat Guidance originally appeared on Fool.com.
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