WEN - Wendy's beats Q1 top and bottom line estimates; reaffirms FY23 outlook & long-term outlook for 2024-2025
2023-05-10 07:06:06 ET
- Wendy's press release ( NASDAQ: WEN ): Q1 Non-GAAP EPS of $0.21 beats by $0.01 .
- Revenue of $528.8M (+8.2% Y/Y) beats by $6.09M .
- Outlook: During 2023 the Company Continues to Expect:
- Global systemwide sales growth: 6 to 8 percent
- Adjusted EBITDA: $530 to $540 million
- Adjusted earnings per share: $0.95 to $1.00 vs. consensus of $0.98
- Cash flows from operations: $340 to $360 million
- Capital expenditures: $75 to $85 million
- Free cash flow: $265 to $275 million
- Company Maintains Long-Term Outlook for 2024-2025:
- Systemwide sales growth: Mid-Single Digits
- Free cash flow growth: High-Single to Low-Double Digits
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Wendy's beats Q1 top and bottom line estimates; reaffirms FY23 outlook & long-term outlook for 2024-2025