wendy's annual profit

Reconciliation of Net Income and Diluted Earnings Per Share to Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. You must click the activation link in order to complete your subscription. Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow, Cash paid for taxes related to New York disposition. "In the fourth quarter, our breakfast sales accelerated while our global digital business reached record highs, and over the course of the year we opened over 275 restaurants across the globe despite a difficult operating environment. The increase in adjusted EBITDA resulted primarily from higher franchise royalty revenue and fees, lower franchise support and other costs, and an increase in Company-operated restaurant margin. How satisfied are the customers? EPS Est. s Company and Subsidiaries WebFind real-time WEN - Wendys Co stock quotes, company profile, news and forecasts from CNN Business. Wendy's gross profit from 2010 to 2023. Because all companies do not calculate adjusted revenue, adjusted EBITDA, adjusted earnings per share, free cash flow and systemwide sales (and similarly titled financial measures) in the same way, those measures as used by other companies may not be consistent with the way the Company calculates such measures. This release also includes disclosure regarding the Company's free cash flow. The fast-food chain through its subsidiary operates as a franchisor of the Wendy's restaurant system. The increase in net income resulted primarily from higher operating profit, partially offset by lower investment income as the result of a cash settlement related to a previously held investment that the Company received in the prior year. The decrease was partially offset by fewer shares outstanding as a result of the Company's share repurchase programs and an increase in adjusted EBITDA. Free cash flow is a non-GAAP financial measure that is used by the Company as an internal measure of liquidity. The Wendy's Company, the world's third-largest quick-service restaurant company, operates through Wendy's Restaurants, LLC, its subsidiary holding company. The Company believes excluding the impact of foreign currency translation provides better year over year comparability. Adjustments to reconcile net income to net cash provided by operating activities: Net receipt (recognition) of deferred vendor incentives, Distributions received from TimWen joint venture, Equity in earnings in joint ventures, net, Long-term debt-related activities, net (see below). For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. (3) Systemwide sales include sales at both Company-operated and franchise restaurants. DUBLIN, Ohio, Aug. 11, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the second quarter ended July 4, 2021. Many important factors could affect the Company's future results and cause those results to differ materially from those expressed in or implied by the Company's forward-looking statements. of or franchising the Wendys restaurant system and to Wendys International, LLC when the context refers to the Wendys brand. (In Thousands Except Per Share Amounts) ' DUBLIN, Ohio, Jan. 13, 2023 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported preliminary, unaudited results for the fourth quarter and fiscal year The related presentation materials will also be available on the Company's Investor Relations website. Investor Contact:Kelsey FreedDirector - Investor Relations(614) 764-3345; [email protected], Media Contact:Heidi SchauerVice President Communications, Public Affairs & Customer Care(614) 764-3368; [email protected], The Wendy Web22.07 -0.06 ( -0.27%) Pre-Market: 08:14 Switch to: Reports Actions Quote Performance Key Stats Financials Estimates News Events Y-Rating Valuation More Data Leverage your fund ET, with a simultaneous webcast from the Company's Investor Relations website at www.irwendys.com. Visit www.wendys.com and www.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendys, and on Facebook at www.facebook.com/wendys. The Company believes investors, analysts and other interested parties use adjusted revenue, adjusted EBITDA, adjusted earnings per share and systemwide sales in evaluating issuers, and the presentation of these measures facilitates a comparative assessment of the Company's operating performance in addition to the Company's performance based on GAAP results. Advertising funds impact for 2020 excludes the Company's incremental funding of advertising of $14,600. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Dave built his business on the premise, "Quality is our Recipe," which remains the guidepost of the Wendy's system. Visit www.wendys.comand www.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendys, and on Facebook at www.facebook.com/wendys. "Our strong 2022 results and the progress we made against our strategic growth pillars have laid the foundation for continued growth for years to come," President and Chief Executive Officer Todd Penegor said. WebRevenue. Such factors include, but are not limited to, the following: (1) the impact of competition or poor customer experiences at Wendy's restaurants; (2) adverse economic conditions or disruptions, including in regions with a high concentration of Wendy's restaurants; (3) changes in discretionary consumer spending and consumer tastes and preferences; (4) the disruption to the Company's business from the novel coronavirus (COVID-19) pandemic and the impact of the pandemic on the Company's results of operations, financial condition and prospects; (5) impacts to the Company's corporate reputation or the value and perception of the Company's brand; (6) the effectiveness of the Company's marketing and advertising programs and new product development; (7) the Company's ability to manage the accelerated impact of social media; (8) the Company's ability to protect its intellectual property; (9) food safety events or health concerns involving the Company's products; (10) our ability to deliver accelerated global sales growth and achieve or maintain market share across our dayparts (11) the Company's ability to achieve its growth strategy through new restaurant development and its Image Activation program; (12) the Company's ability to effectively manage the acquisition and disposition of restaurants or successfully implement other strategic initiatives; (13) risks associated with leasing and owning significant amounts of real estate, including environmental matters; (14) risks associated with the Company's international operations, including the ability to execute its international growth strategy; (15) changes in commodity and other operating costs; (16) shortages or interruptions in the supply or distribution of the Company's products and other risks associated with the Company's independent supply chain purchasing co-op; (17) the impact of increased labor costs or labor shortages; (18) the continued succession and retention of key personnel and the effectiveness of the Company's leadership and organizational structure; (19) risks associated with the Company's digital commerce strategy, platforms and technologies, including its ability to adapt to changes in industry trends and consumer preferences; (20) the Company's dependence on computer systems and information technology, including risks associated with the failure or interruption of its systems or technology or the occurrence of cyber incidents or deficiencies; (21) risks associated with the Company's securitized financing facility and other debt agreements, including compliance with operational and financial covenants, restrictions on its ability to raise additional capital, the impact of its overall debt levels and the Company's ability to generate sufficient cash flow to meet its debt service obligations and operate its business; (22) risks associated with the Company's capital allocation policy, including the amount and timing of equity and debt repurchases and dividend payments; (23) risks associated with complaints and litigation, compliance with legal and regulatory requirements and an increased focus on environmental, social and governance issues; (24) risks associated with the availability and cost of insurance, changes in accounting standards, the recognition of impairment or other charges, changes in tax rates or tax laws and fluctuations in foreign currency exchange rates; (25) conditions beyond the Company's control, such as adverse weather conditions, natural disasters, hostilities, social unrest, health epidemics or pandemics or other catastrophic events; (26) risks associated with our organizational redesign initiative; and (27) other risks and uncertainties cited in the Company's releases, public statements and/or filings with the Securities and Exchange Commission, including those identified in the "Risk Factors" sections of the Company's Forms 10-K and 10-Q. Data may be intentionally delayed pursuant to supplier requirements. Such risks include the Company's ability to identify, attract and retain experienced and qualified franchisees and effectively manage the transfer of restaurants between and among franchisees, the business and financial health of franchisees, the ability of franchisees to meet their royalty, advertising, development, reimaging and other commitments, participation by franchisees in brand strategies and the fact that franchisees are independent third parties that own, operate and are responsible for overseeing the operations of their restaurants. DUBLIN, Ohio, March 3, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended January 3, 2021. Cost of sales excludes certain costs that support restaurant operations that are not allocated to individual restaurants, which are included in "General and administrative." The Company defines free cash flow as cash flows from operations minus (i) capital expenditures and (ii) the net change in the restricted operating assets and liabilities of the advertising funds and any excess/deficit of advertising funds revenue over advertising funds expense included in net income, as reported under GAAP. Some significant changes in management & operations led to the combination of its Canadian business with its International segment and separating its real estate and development operations into its own segment. The Company reports same-restaurant sales for new restaurants after they have been open for 15 continuous months and for reimaged restaurants as soon as they reopen. Nine Month Periods Ended October 3, 2021 and September 27, 2020 (In Thousands) About Wendy'sWendy's was founded in 1969 by Dave Thomas in Columbus, Ohio. Advertising funds impact for 2022 and 2021 excludes the Company's incremental funding of advertising $15,179 and $25,000, respectively. Because all companies do not calculate adjusted revenue, adjusted EBITDA, adjusted earnings per share, free cash flow and systemwide sales (and similarly titled financial measures) in the same way, those measures as used by other companies may not be consistent with the way the Company calculates such measures. Fundamental company data and analyst estimates provided by FactSet. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Forward-Looking StatementsThis release contains certain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). WebDomestic comps upped 4.6 percent in Q3 before jumping to 5.5 percent to close the year, giving McDonalds a 0.4 percent rise for all of 2020the chains sixth straight year of positive U.S. same-store sales. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. WebThe Wendy's Company and Subsidiaries. Adjusted Income and Adjusted Earnings Per Share Such factors include, but are not limited to, the following: (1) disruption to the Company's business from the novel coronavirus (COVID-19) pandemic and the impact of the pandemic on the Company's results of operations, financial condition and prospects; (2) the impact of competition or poor customer experiences at Wendy's restaurants; (3) economic disruptions, including in regions with a high concentration of Wendy's restaurants; (4) changes in discretionary consumer spending and consumer tastes and preferences; (5) impacts to the Company's corporate reputation or the value and perception of the Company's brand; (6) the effectiveness of the Company's marketing and advertising programs and new product development; (7) the Company's ability to manage the accelerated impact of social media; (8) the Company's ability to protect its intellectual property; (9) food safety events or health concerns involving the Company's products; (10) the Company's ability to achieve its growth strategy through new restaurant development and its Image Activation program; (11) the Company's ability to effectively manage the acquisition and disposition of restaurants or successfully implement other strategic initiatives; (12) risks associated with leasing and owning significant amounts of real estate, including environmental matters; (13) the Company's ability to achieve and maintain market share in the breakfast daypart; (14) risks associated with the Company's international operations, including the ability to execute its international growth strategy; (15) changes in commodity and other operating costs; (16) shortages or interruptions in the supply or distribution of the Company's products and other risks associated with the Company's independent supply chain purchasing co-op; (17) the impact of increased labor costs or labor shortages; (18) the continued succession and retention of key personnel and the effectiveness of the Company's leadership structure; (19) risks associated with the Company's digital commerce strategy, platforms and technologies, including its ability to adapt to changes in industry trends and consumer preferences; (20) the Company's dependence on computer systems and information technology, including risks associated with the failure, misuse, interruption or breach of its systems or technology or other cyber incidents or deficiencies; (21) risks associated with the Company's securitized financing facility and other debt agreements, including compliance with operational and financial covenants, restrictions on its ability to raise additional capital, the impact of its overall debt levels and the Company's ability to generate sufficient cash flow to meet its debt service obligations and operate its business; (22) risks associated with the Company's capital allocation policy, including the amount and timing of equity and debt repurchases and dividend payments; (23) risks associated with complaints and litigation, compliance with legal and regulatory requirements and an increased focus on environmental, social and governance issues; (24) risks associated with the availability and cost of insurance, changes in accounting standards, the recognition of impairment or other charges, the impact of realignment and reorganization initiatives, changes in tax rates or tax laws and fluctuations in foreign currency exchange rates; (25) conditions beyond the Company's control, such as adverse weather conditions, natural disasters, hostilities, social unrest, health epidemics or pandemics or other catastrophic events; and (26) other risks and uncertainties cited in the Company's releases, public statements and/or filings with the Securities and Exchange Commission, including those identified in the "Risk Factors" sections of the Company's Forms 10-K and 10-Q. The Company assumes no obligation to update any forward-looking statements after the date of this release as a result of new information, future events or developments, except as required by federal securities laws, although the Company may do so from time to time. This release includes forward-looking projections for certain non-GAAP financial measures, including systemwide sales, adjusted EBITDA, adjusted earnings per share and free cash flow. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. Generally, forward-looking statements include the words "may," "believes," "plans," "expects," "anticipates," "intends," "estimate," "goal," "upcoming," "outlook," "guidance" or the negation thereof, or similar expressions. The Company believes free cash flow is an important liquidity measure for investors and other interested persons because it communicates how much cash flow is available for working capital needs or to be used for repurchasing shares, paying dividends, repaying or refinancing debt, financing possible acquisitions or investments or other uses of cash. ' The Company calculates same-restaurant sales and systemwide sales growth on a constant currency basis. These increases were partially offset by an increase in advertising funds expense related to the timing of marketing expenses and higher general and administrative expense. The American Customer Satisfaction Index released its annual restaurant report on Tuesday. Adjusted EBITDA and systemwide sales are also used by the Company in establishing performance goals for purposes of executive compensation. First Quarter Sales off to a Strong StartThrough the week ended February 21, year-to-date U.S. same-restaurant sales increased approximately 6% and Global same-restaurant sales increased approximately 5%. Today, Wendy's and its franchisees employ hundreds of thousands of people across more than 6,800 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. Total RevenuesThe increase in revenues resulted primarily from higher sales at Company-operated restaurants driven by the favorable impact of the acquisition of 93 franchise-operated restaurants in Florida during the fourth quarter of 2021 and higher same-restaurant sales. The Company assumes no obligation to update any forward-looking statements after the date of this release as a result of new information, future events or developments, except as required by federal securities laws, although the Company may do so from time to time. (Unaudited), Legal reserve for Financial Institutions case. Investor Contact:Greg LemenchickSenior Director - Investor Relations & Corporate FP&A(614) 766-3977; [email protected], Media Contact:Heidi SchauerVice President Communications, Public Affairs & Customer Care(614) 764-3368; [email protected], The Wendy Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty dessert. Consolidated Balance Sheets New risks and uncertainties arise from time to time, and it is impossible for the Company to predict these events or how they may affect the Company. As of January 3, 2021 and December 29, 2019 The Wendy's Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. Key Business MeasuresThe Company tracks its results of operations and manages its business using certain key business measures, including same-restaurant sales, systemwide sales and Company-operated restaurant margin, which are measures commonly used in the quick-service restaurant industry that are important to understanding Company performance. These increases were partially offset by a lower Company-operated restaurant margin and higher general and administrative expense. * In the 12 months ended December 2020, Wendy's is #2 in traffic share among U.S. QSR burger chains, according to The NPD Group CREST data. For fiscal 2021, same-restaurant sales compared the 52 weeks from January 4, 2021 through January 2, 2022 to the 52 weeks from January 6, 2020 through January 3, 2021. The increase was primarily driven by higher professional fees related to IT-related costs, partially offset by lower travel related expenses as a result of reduced travel due to the COVID-19 pandemic and a lower incentive compensation accrual. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The Company's actual results, performance and achievements may differ materially from any future results, performance or achievements expressed or implied by the Company's forward-looking statements. Operating profit excluding the one-time benefit of the system optimization gain in the prior year increased due to higher franchise royalty revenue, higher sales at Company-operated restaurants, and higher other operating income. (In Thousands) For the three and twelve months ended January3, 2021, excludes advertising funds expense of $6,262 and $14,600, respectively, related to the Company funding of incremental advertising during 2020. This was partially offset by a higher average check and lower insurance costs. Key Business MeasuresThe Company tracks its results of operations and manages its business using certain key business measures, including same-restaurant sales, systemwide sales and Company-operated restaurant margin, which are measures commonly used in the quick-service restaurant industry that are important to understanding Company performance. By providing your email address below, you are providing consent to Wendys to send you the requested Investor Email Alert updates. Free cash flow is a non-GAAP financial measure that is used by the Company as an internal measure of liquidity. For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. (In Thousands Except Per Share Amounts) The Company calculates same-restaurant sales and systemwide sales growth on a constant currency basis. (3). Many of these risks have been or in the future may be heightened due to the business disruption and impact from the COVID-19 pandemic. The decrease was partially offset by the benefit of rolling over a loss on early extinguishment of debt that the Company incurred as part of its debt refinancing in 2019 and a higher operating profit. Dave built his business on the premise, "Quality is our Recipe," which remains the guidepost of the Wendy's system. The Company believes its presentation of adjusted revenue, adjusted EBITDA, adjusted earnings per share and systemwide sales provides a meaningful perspective of the underlying operating performance of our current business and enables investors to better understand and evaluate our historical and prospective operating performance. New risks and uncertainties arise from time to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict these events or how they may affect the Company. The Wendy's Company and SubsidiariesReconciliation of Net Cash Provided by Operating Activities to Free Cash Flow The Company believes these non-GAAP financial measures are important supplemental measures of operating performance because they eliminate items that vary from period to period without correlation to our core operating performance and highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures. All future written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. An archived webcast and presentation materials will be available on the Company's Investor Relations website. (In Thousands) As we turn the page to 2021, we remain confident in our playbook of investing smartly to drive accelerated growth behind our three major long-term growth pillars: significantly building our breakfast daypart, accelerating our digital business, and expanding our footprint, both Internationally and in the U.S.". The restaurant chain Net sales fell 1% to $405 million. Same-restaurant sales and systemwide sales each include sales by both Company-operated and franchise restaurants. Fast food company The Wendy's Company generated approximately 0.79 billion U.S. dollars in franchise revenue worldwide during the 2022 financial year, reflecting After submitting your request, you will receive an activation email to the requested email address. Same-restaurant sales and systemwide sales exclude sales from Venezuela and Argentina due to the highly inflationary economies of those countries. Although sales dipped in 2014, they climbed back to $1.71 billion in 2019. Free cash flow is also used by the Company in establishing performance goals for purposes of executive compensation. Copyright FactSet Research Systems Inc. All rights reserved. In addition, all statements that address future operating, financial or business performance, strategies or initiatives, future efficiencies or savings, anticipated costs or charges, future capitalization, anticipated impacts of recent or pending investments or transactions and statements expressing general views about future results or brand health are forward-looking statements within the meaning of the Reform Act. Today, Wendy's and its franchisees employ hundreds of thousands of people across approximately 7,000 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. "I Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. The Company believes investors, analysts and other interested parties use adjusted revenue, adjusted EBITDA, adjusted earnings per share and systemwide sales in evaluating issuers, and the presentation of these measures facilitates a comparative assessment of the Company's operating performance in addition to the Company's performance based on GAAP results. Please check your download folder. You can sign up for additional alert options at any time. The Company believes free cash flow is an important liquidity measure for investors and other interested persons because it communicates how much cash flow is available for working capital needs or to be used for repurchasing shares, paying dividends, repaying or refinancing debt, financing possible acquisitions or investments or other uses of cash. General and Administrative ExpenseThe increase in general and administrative expense was primarily driven by higher salaries and benefits, reflecting investments in resources to support the Company's development and digital organizations, technology costs primarily related to the Company's ERP implementation, and increased travel expenses. For fiscal 2020, same-restaurant sales excludes the impact of a 53rd operating week. It derives revenues from two principal sources: sales at company-operated restaurants and franchise-related revenues including royalties, national advertising funds contributions, rents and franchise fees received from Wendy's franchised restaurants. The Company's predominantly franchised business model may also impact the ability of the Wendy's system to effectively respond and adapt to market changes. Forward-looking statements are based on the Company's expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. Condensed Consolidated Statements of Cash Flows. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Constant currency results exclude the impact of foreign currency translation and are derived by translating current year results at prior year average exchange rates. "We accomplished a lot in 2020, including securing our position as the #2 QSR hamburger restaurant chain* in the U.S., achieving our two highest quarterly Global same restaurant sales results in over 15 years, launching our highly successful breakfast daypart, more than doubling our digital sales, enhancing our restaurant economic model, and continuing to enhance access to our brand with net new restaurant development. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays.
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