The Wendy’s Co (NASDAQ:WEN) shares are trading lower after the company reported fourth-quarter FY23 results.
Sales growth of 0.8% year-on-year to $540.7 million, missing the analyst consensus estimate of $546.5 million.
Adjusted revenues increased 0.1% to $431.7 million. Systemwide sales in the U.S. rose 2.3%, and International increased 9.7%.
Global same-restaurant sales growth was 1.3%. U.S. company-operated restaurant margin was 13.5% versus 15.1% a year ago.
Operating income for the quarter rose 3.1% Y/Y to $86.6 million.Adjusted EBITDA increased 2.5% Y/Y to $126.6 million.
Adjusted EPS of $0.21 missed …
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