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Dec 28, 2025
Wendy's Q4 2025 Earnings Report
Wendy's reported fourth quarter 2025 results with lower revenue and net income year-over-year, impacted by declines in U.S. same-restaurant sales.
Key Takeaways
Wendy's generated 542974000 in revenue in Q4 2025 and reported net income of 26481000, as lower U.S. same-restaurant sales and reduced franchise revenue weighed on performance, partially offset by international growth.
Total revenue declined to 542974000 from 574273000 in the prior year.
Net income decreased to 26481000 from 47497000 year-over-year.
Global same-restaurant sales declined 10.1%, driven by an 11.3% drop in the U.S.
International systemwide sales grew 6.2% in the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Wendy's expects approximately flat global systemwide sales growth, adjusted EBITDA between 460000000 and 480000000, adjusted EPS of 0.56 to 0.60, capital expenditures and franchise development fund investments of 120000000 to 130000000, and free cash flow of 190000000 to 205000000.
Positive Outlook
- International systemwide sales continued to grow in Q4.
- Adjusted EBITDA expected between 460000000 and 480000000 in 2026.
- Adjusted EPS guidance of 0.56 to 0.60 for 2026.
- Free cash flow projected between 190000000 and 205000000.
- Ongoing execution of Project Fresh turnaround plan.
Challenges Ahead
- Global systemwide sales expected to be approximately flat in 2026.
- Significant decline in U.S. same-restaurant sales in Q4.
- Lower franchise royalty and fee revenue year-over-year.
- Operating profit declined 33.3% in Q4.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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