Wendy's Q3 Profit Falls, Updates FY View

(RTTNews) - Wendy's Co. (WEN), parent company of Wendy's Restaurants, Wednesday said its third-quarter net income declined to $7.6 million from $22.8 million in the third quarter of 2014.

Earnings per share from continuing operations fell to $0.03 from $0.06 the third quarter of 2014.

Adjusted earnings per Share from continuing operations were $0.09, while it totaled $0.07 last year.

On average, 18 analysts polled by Thomson Reuters expected earnings of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues fell to $464.6 million from $496.7 million. Analysts expected revenues of $438 million.

The 6.5 percent decrease in revenue resulted primarily from the ownership of 153 fewer company-operated restaurants.

The company now expects full-year adjusted earnings per share from continuing operations at the high end of its previously issued range of $0.31 to $0.33. Analysts look for earnings of $0.32 per share.

It also sees same-restaurant sales increases at company-operated restaurants at the high end of its previously issued range of approximately 2.0 to 2.5 percent.