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Oct 03, 2021
Wendy's Q3 2021 Earnings Report
Wendy's reported third quarter results, highlighting growth in breakfast business, acceleration of digital sales, and expansion of global footprint.
Key Takeaways
Wendy's reported a revenue increase driven by higher franchise fees, advertising funds, and franchise royalty revenue, offset by lower sales at Company-operated restaurants due to the sale of the New York market. Global Same-Restaurant sales grew in the high-single digits on a 2-year basis.
Global Same-Restaurant sales grew in the high-single digits on a 2-year basis.
The company continued to grow its breakfast business.
Digital sales accelerated during the quarter.
Wendy's meaningfully expanded its global footprint.
Revenue by Segment
Forward Guidance
The Company Now Expects During 2021:
Positive Outlook
- Global systemwide sales growth: 11 to 12 percent (excluding the impact of the 53rd week)
- Adjusted EBITDA: $465 to $470 million
- Adjusted earnings per share: $0.79 to $0.80
- Cash flows from operations: $345 to $365 million
- Free cash flow: $270 to $280 million
Challenges Ahead
- Capital expenditures: $75 to $85 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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