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The Wendy's Company Reports First Quarter 2021 Results

The Wendy's Company Reports First Quarter 2021 Results
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DUBLIN, Ohio, May 12, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the first quarter ended April 4, 2021.
"We are increasing our 2021 financial outlook meaningfully across all key financial metrics, driven by an outstanding first quarter that underscores our continued momentum and the overall strength of our business," President and Chief Executive Officer Todd Penegor said. "The robust growth in our business continued in the first quarter of 2021 as sales significantly exceeded our expectations and fueled our restaurant economic model, leading to outsized profits. We remain committed to our three long-term growth pillars—significantly building our breakfast daypart, accelerating our digital business, and expanding our footprint across the globe—and continue to make great progress. I have never been more confident that we will achieve our vision of becoming the world's most thriving and beloved restaurant brand as our System is stronger and more aligned than ever."

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Wendy's Q4 results miss estimates ... barely

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March 3, 2021
Although Wendy's Q4 adjusted EPS fell a penny short of analysts' estimates of 18 cents per share, the company managed to exceed the previous year's quarterly result of 8 cents per share by more than 112%. Revenues of $474.3 million also fell short of estimates of $480.6 million, but were 11% higher than the year-ago quarter's figure of $427.2 million, according to results released by the company this morning.
Operationally, Wendy's Q4 systemwide sales globally grew 13.2% compared to 5.9% the previous year's quarter, helping to buoy full-year systemwide sales growth in 2020 up 4.8% versus 2019 full-year growth of 4.2%.
"I could not be more proud of our results and the work that was done by the Wendy's System across the globe in 2020 with all the challenges we faced and overcame during the year," Wendy's President and CEO Todd Penegor said in a press release. "I am confident that we have emerged as a stronger, more unified brand that is poised to deliver outsized growth" President and Chief Executive Officer Todd Penegor said. "We accomplished a lot in 2020, including securing our position as the #2 QSR hamburger restaurant chain in the U.S., achieving our two highest quarterly Global same restaurant sales results in over 15 years, launching our highly successful breakfast daypart, more than doubling our digital sales, enhancing our restaurant economic model, and continuing to enhance access to our brand with net new restaurant development.

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