NASDAQ$WEN
Wendy's · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Wendy's third quarter results were released, showing progress across strategic growth pillars.
Wendy's reported an increase in total revenues, driven by higher sales at Company-operated restaurants, an increase in franchise royalty revenue, and an increase in advertising funds revenue. Global same-restaurant sales accelerated, digital sales grew, and the company opened 152 new restaurants globally.
- Global same-restaurant sales accelerated on a 2-year basis.
- Digital sales grew 30% versus the prior year.
- Company-operated restaurant margin expanded.
- Opened 152 new restaurants across the globe this year.
Headline financials
Revenue & EPS history
Wendy's · Revenue · Quarterly
$551M
Revenue by segment
Wendy's · $551M total across 5 segments · Q3 2023
- Company-operated sales$235M—42.6%
- Franchise royalty revenue$130M—23.6%
- Advertising funds revenue$109M—19.8%
- Franchise rental income$57.6M—10.5%
- Franchise fees$19.3M—3.5%
Forward guidance
The Company Now Expects for 2023: Global systemwide sales growth of 6 to 7 percent, Cash flows from operations of $345 to $360 million and Capital expenditures of $80 to $85 million. In Addition, the Company Continues to Expect: Adjusted EBITDA of $530 to $540 million, Adjusted earnings per share of $0.95 to $1.00 and Free cash flow of $265 to $275 million
Tailwinds
- Global systemwide sales growth: 6 to 7 percent
- Cash flows from operations: $345 to $360 million
- Adjusted EBITDA: $530 to $540 million
- Adjusted earnings per share: $0.95 to $1.00
- Free cash flow: $265 to $275 million
Headwinds
- Uncertainty and variability of expenses and benefits
- Unable to provide projections of net income
- Unable to provide projections of earnings per share
- Unable to provide projections of net cash provided by operating activities
- Unable to provide a reconciliation of those projected measures
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.1%
Avg return
Earnings day
+0.6%
Avg return
5 days after
-0.2%
Avg return
30 days after
52%
32 / 62 earnings
Positive
+10.3%
Q2 2019
Best reaction
-12.5%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.9% | +17.8% | -3.3% | |
| Q4 2025 | +2.9% | +12.5% | -1.4% | |
| Q3 2025 | +1.6% | -1.1% | -4.4% | |
| Q1 2025 | +0.2% | -5.8% | -8.7% | |
| Q4 2024 | +3.8% | +5.4% | +7.9% | |
| Q3 2024 | -3.2% | -2.7% | -9.6% | |
| Q2 2024 | -0.3% | -1.0% | -0.1% | |
| Q1 2024 | +1.6% | -0.8% | -11.1% | |
| Q4 2023 | -4.4% | -6.8% | -4.9% | |
| Q3 2023 | +1.4% | -0.9% | +2.9% | |
| Q2 2023 | -0.8% | -0.6% | -9.4% | |
| Q1 2023 | +1.1% | +3.7% | -3.3% | |
| Q4 2022 | +2.1% | -1.0% | -0.8% | |
| Q3 2022 | +4.8% | +0.4% | +13.2% | |
| Q2 2022 | +0.9% | +0.2% | -2.7% | |
| Q1 2022 | -5.0% | -3.9% | +0.3% | |
| Q4 2021 | -0.3% | -5.3% | -3.4% | |
| Q3 2021 | -6.1% | -4.8% | -3.1% | |
| Q2 2021 | +6.7% | +7.4% | +1.7% | |
| Q1 2021 | -1.3% | +1.9% | +5.9% | |
| Q3 2020 | -4.1% | -3.1% | -4.1% | |
| Q2 2020 | -6.6% | -7.7% | -9.4% | |
| Q1 2020 | +8.9% | +12.3% | +21.5% | |
| Q4 2019 | -12.5% | -14.5% | -38.7% | |
| Q3 2019 | +0.7% | -0.2% | +3.5% | |
| Q2 2019 | +10.3% | +7.7% | +23.6% | |
| Q1 2019 | +1.8% | +0.9% | +7.6% | |
| Q4 2018 | +0.3% | -3.1% | -6.8% | |
| Q3 2018 | -2.4% | +2.2% | +3.1% | |
| Q2 2018 | +1.1% | +3.4% | +2.2% | |
| Q1 2018 | -0.9% | -1.4% | +1.1% | |
| Q4 2017 | +4.8% | +3.2% | +4.3% | |
| Q3 2017 | -0.3% | -2.7% | +3.5% | |
| Q2 2017 | +0.3% | +1.4% | -5.6% | |
| Q1 2017 | +5.5% | +6.8% | +2.9% | |
| Q4 2016 | -1.5% | -1.5% | -5.9% | |
| Q3 2016 | +1.4% | +5.1% | +24.2% | |
| Q2 2016 | -2.5% | +0.6% | +0.2% | |
| Q1 2016 | -6.5% | — | — | |
| Q4 2015 | -6.2% | — | — | |
| Q3 2015 | +3.0% | — | — | |
| Q2 2015 | -3.2% | — | — | |
| Q1 2015 | +7.4% | — | — | |
| Q4 2014 | +4.8% | — | — | |
| Q3 2014 | +3.0% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | -6.0% | — | — | |
| Q3 2013 | -8.3% | — | — | |
| Q2 2013 | +6.6% | — | — | |
| Q1 2013 | -5.4% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | +4.5% | — | — | |
| Q2 2012 | -2.0% | — | — | |
| Q1 2012 | -1.9% | — | — | |
| Q3 2011 | -5.8% | — | — | |
| Q2 2011 | +9.7% | — | — | |
| Q1 2011 | +2.7% | — | — | |
| Q4 2010 | +5.7% | — | — | |
| Q3 2010 | -5.2% | — | — | |
| Q2 2010 | -2.2% | — | — | |
| Q1 2010 | -8.3% | — | — |
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