Wendy’s will increase its dividend, share repurchase program and steerage

Wendy’s Co.

shares rose 4.8% in Wednesday premarket buying and selling after the fast-food chain reported first-quarter earnings that beat expectations and raised its steerage. Web revenue totaled $41.4 million, or 18 cents per share, up from $14.4 million, or 6 cents per share, final 12 months. Adjusted EPS of 20 cents beat the FactSet consensus for 15 cents. Income of $460.2 million was up from $405.0 million final 12 months and in addition forward of the FactSet consensus for $445.0 million. World same-restaurant gross sales rose 13% with the U.S. up 13.5% and worldwide gross sales up 7.9%. The FactSet consensus was for world 14.5% development with the U.S. up 12%. Wendy’s raised its dividend by 11% to 10 cents per share, payable on June 15, 2021 to shareholders of report as of June 1, 2021. As of Could 5, there have been 221 million shares excellent. The corporate additionally raised its share repurchase plan by $50 million to a complete of $150 million. And Wendy’s raised its full-year steerage. The corporate now expects adjusted EPS of 72 cents to 74 cents, and eight%-to-10% world systemwide gross sales development. The corporate was beforehand guiding for six%-to-8% gross sales development. The FactSet consensus is for EPS of 69 cents and gross sales of $1.817 billion, implying 4.8% development. Wendy’s inventory has gained 4% for the 12 months up to now whereas the S&P 500 index

is up 10.5% for the interval.

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