MKM Partners restaurant analyst Brett Levy discusses Wendy’s competition in the fast-food breakfast market.
Wendy’s reported higher fourth-quarter profit and revenue, driven by higher sales at company-operated restaurants and increased franchise royalties.
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The Dublin, Ohio-based fast-food chain’s fourth-quarter profit rose 41 percent to $26.5 million, or 11 cents a share. Adjusted earnings were 8 cents a share, in line with estimates. Total revenue climbed 7.4 percent to $427.2 million while North American same-store sales grew 4.3 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WEN | THE WENDY’S COMPANY | 22.96 | -0.43 | -1.84% |
“We have momentum in our business as evidenced by our accelerating sales growth in the second half of the year, which sets us up well going into 2020,” CEO Todd Penegor said in a statement. “Our focus remains on efficient, accelerated growth behind our three major growth pillars: entering the breakfast daypart, growing our digital business, and expanding our international footprint.”
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