Wendy's Mixed Q3: EPS Outlook Narrows Despite Revenue Beats, Sales Growth
Wendy's Mixed Q3: EPS Outlook Narrows Despite Revenue Beats, Sales Growth
The Wendy's Co (NASDAQ:WEN) shares are trading lower after the company reported third-quarter 2024 revenue growth of 2.9% year-over-year to $566.7 million, beating the analyst consensus estimate of $560.75 million.
溫蒂漢堡公司（納斯達克：WEN）股價下跌，因公司報告2024年第三季度營業收入增長2.9%，達到56670萬美元，超過分析師一致預期的56075萬美元。
- Adjusted revenues increased 0.5% to $443.6 million. Systemwide sales in the U.S. rose 0.9%, and International increased 7.7%.
- Global same-restaurant sales growth was 0.2%. U.S. company-operated restaurant margin was 15.6% (flat year-on-year).
- Wendy's strengthened its "digital and loyalty platforms," CEO Kirk Tanner said.
- Operating profit for the quarter declined 6.8% year over year to $94.7 million. Adjusted EBITDA was $135.2 million versus $139.2 million year over year.
- Operating profit decreased due to increased breakfast advertising costs, higher depreciation, and higher general and administrative expenses.
- Adjusted EPS of 25 cents in line with the consensus estimate.
- As of June, the company held $482.2 million in cash, cash equivalents, and restricted cash of $35.180 million.
- Operating cash flow for the nine months totaled $286.7 million, with a free cash flow of $234.1 million.
- 調整後的營業收入增長0.5%，達到44360萬美元。美國系統範圍內的銷售額增長了0.9%，國際銷售增長了7.7%。
- 全球同店銷售增長率爲0.2%。美國公司經營的餐廳利潤率爲15.6%（同比持平）。
- 溫蒂漢堡加強了其"數字化和忠誠計劃"，首席執行官柯克·坦納表示。
- 該季度營業利潤同比下降了6.8%，達到9470萬美元。調整後的EBITDA爲13520萬美元，低於去年的13920萬美元。
- 營業利潤下降是由於早餐廣告成本上升、折舊費用增加以及一般和管理費用增加所致。
- 每股收益爲25美分，符合市場預期。
- 截至六月，該公司持有48220萬美元的現金、現金等價物和3518萬美元的限制性現金。
- 前九個月的營業現金流總額爲28670萬元，自由現金流爲23410萬元。
Buyback: In the third quarter of 2024, the company repurchased 1.5 million shares for $25.2 million and 0.2 million shares for $2.7 million through Oct. 24. Approximately $247.7 million remains available as of October 24 under the company's existing share repurchase authorization that expires in February 2027.
回購：在2024年第三季度，該公司以2520萬美元回購150萬股，在10月24日前以270萬美元回購20萬股。截至10月24日，該公司現有的股票回購授權期限至2027年2月，剩餘可用金額約爲24770萬元。
Dividend: The company declared its regular quarterly cash dividend of 25 cents per share, payable on December 16, to shareholders of record as of Dec. 2.
股息：公司宣佈每股25美分的常規季度現金股息，將於12月16日支付給截至12月2日的股東。
2024 Outlook: Wendy's now expects adjusted EPS of $0.99-$1.01 (vs. $0.99 Estimate) compared to the prior view of $0.98-$1.02.
2024年展望：溫蒂現在預計調整後的每股收益爲0.99美元至1.01美元（預估爲0.99美元），而之前的預期爲0.98美元至1.02美元。
The company continues to see adjusted EBITDA of $535 million-$545 million.
該公司繼續預計調整後的EBITDA爲53500萬至54500萬美元。
WEN now sees Global systemwide sales growth of 3% (vs. 3% to 5% earlier) and reiterated guidance for cash flows from operations of $365 million to $385 million, and free cash flow of $275 million to $285 million.
溫蒂現在預計全球系統範圍內銷售增長爲3%（較之前的3%-5%），並重申運營現金流量爲36500萬至38500萬美元，自由現金流爲27500萬至28500萬美元的指引。
Investors can gain exposure to the stock via VictoryShares US Small Cap High Div Volatility Wtd ETF (NASDAQ:CSB) and ETC 6 Meridian Low Beta Equity ETF (NYSE:SIXL).
投資者可以通過VictoryShares US Small Cap High Div Volatility Wtd ETF（納斯達克代碼：CSB）和ETC 6 Meridian Low Beta Equity ETF（紐交所代碼：SIXL）來獲取該股份的暴露。
Price Action: Wendy's shares are down 4.43% at $19.41 at the last check Thursday.
股價表現：截至上週四最後一次查詢，溫蒂漢堡的股價下跌4.43%，爲19.41美元。
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Image: Shutterstock
圖片：shutterstock
