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.Eric Volkman has no position in Wendy's. The Motley Fool has no position in Wendy's. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.