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The Wendy’s Company (NASDAQ: WEN) Falls Short Of Expectations in 3Q Results

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The Wendy’s Company (NASDAQ: WEN) posted its third quarter earnings before the market closed on Thursday. The company failed to impress, as it fell well short of the market estimate.  Earnings per share were at $0.08 per share, while revenue came out to be $512 million. Market was expecting the company to meet the consensus of $0.09 EPS and $516 million revenue. Last year, in the same quarter, the company posted 0.08 earnings per share while making 640.78 million in revenue.  It’s evident from these figures that throughout the year, The Wendy’s Company (NASDAQ: WEN) has suffered a considerable dib.

The Wendy’s Company (NASDAQ: WEN) guidance for the whole year is $0.34 and $0.36 EPS.  The market expects the company to post $0.35 EPS, with revenue reaching $2.07 billion. The Wendy’s Company (NASDAQ: WEN) same franchise restaurant sales shot up by 0.5%, while same restaurant sales moved up by 5%.

Third quarter’s annual revenue came out to be $22.8 million in contrast to the $1.9 million net loss suffered in the same quarter last year. The restaurant margin took a slight dip by 0.1 percent (15.6 to 15.5), because of increase in commodity costs.

Executives of the company stated that The Wendy’s Company (NASDAQ: WEN) will solely by focusing on improving and expanding its restaurant business, along with investing in consumer-facing technology. These two categories are the strong areas of the company, through which The Wendy’s Company (NASDAQ: WEN) can carve a strong position for itself in the market.  The company’s CEO talked about the losses suffered in the third quarter, stating that the company underestimated some costs, which came out much higher than what was projected initially. But there were some positive points that came to surface in the third quarter such as the growth of two-year comps.

The Wendy’s Company (NASDAQ: WEN) lost 1 percent when market concluded on Wednesday.  The third quarter reports didn’t strike much enthusiasm in the buyers and the shares declined by 2 percent to $7.90. The market target price is $9.30. Wendy (NASDAQ:WEN) largely owes these losses to the decline in the revenue generated by its company operated restaurants.

It might have come as a shock for the company, since The Wendy’s Company (NASDAQ: WEN) has been doing a pretty good job in the past years. It has been posting healthy profits and considerably large revenues. Third quarter results didn’t go out in the company’s favor, but it was a good thing for the CEO to point out where the company went wrong and what loopholes they have to cover.

The Wendy’s Company (NASDAQ: WEN) should concentrate on strengthening and expanding its restaurant business, if it hopes to propel profits. The Wendy’s Company (NASDAQ: WEN) should also make sure that its initial research regarding the cost estimates etc is robust. Most of The Wendy’s Company (NASDAQ: WEN) losses came from costs exceeding the company’s estimates. The company can expect to be on course of success, if the current problems are dealt with immediately.

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