In addition, all statements that address future operating, financial or business performance, strategies or initiatives, future efficiencies or savings, anticipated costs or charges, future capitalization, anticipated impacts of recent or pending investments or transactions and statements expressing general views about future results or brand health are forward-looking statements within the meaning of the Reform Act. $4.487B. WEN | Wendy's Co. Financial Statements - WSJ 2023, January 2, The increase was partially offset by customer count declines as a result of the COVID-19 pandemic and labor cost increases. 11 Aug, 2021, 07:00 ET. At Wendys, we promise to treat your data with respect and will not share your information with any third party. In addition, all statements that address future operating, financial or business performance, strategies or initiatives, future efficiencies or savings, anticipated costs or charges, future capitalization, anticipated impacts of recent or pending investments or transactions and statements expressing general views about future results or brand health are forward-looking statements within the meaning of the Reform Act. rd The increase was primarily driven by higher professional fees related to IT-related costs, partially offset by lower travel related expenses as a result of reduced travel due to the COVID-19 pandemic and a lower incentive compensation accrual. This release includes forward-looking projections for certain non-GAAP financial measures, including systemwide sales, adjusted EBITDA, adjusted earnings per share and free cash flow. The increase in general and administrative expense reflects a $2.8 million reduction in a prior year legal reserve related to the financial institutions case. New risks and uncertainties arise from time to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict these events or how they may affect the Company. The increase in net income resulted primarily from higher operating profit, partially offset by lower investment income as the result of a cash settlement related to a previously held investment that the Company received in the prior year. See "Disclosure Regarding Non-GAAP Financial Measures" and the reconciliation tables that accompany this release for a discussion and reconciliation of certain non-GAAP financial measures included in this release. Cost of sales includes food and paper, restaurant labor and occupancy, advertising and other operating costs. The Company assumes no obligation to update any forward-looking statements after the date of this release as a result of new information, future events or developments, except as required by federal securities laws, although the Company may do so from time to time. Therefore, as restaurant margin as presented excludes certain costs as described above, its usefulness may be limited and may not be comparable to other similarly titled measures of other companies in our industry. (Unaudited), Gain on other investments in equity securities, Total adjustments per share, net of income taxes. The impact of our advertising funds is excluded because the funds are used solely for advertising and are not available for the Company's working capital needs. The non-GAAP financial measures included in this release should not be construed as substitutes for or better indicators of the Company's performance than the most directly comparable GAAP financial measures. Advertising funds impact for 2020 excludes the Company's incremental funding of advertising of $14,600. These increases were partially offset by an increase in advertising funds expense related to the timing of marketing expenses and higher general and administrative expense. The related presentation materials will also be available on the Company's Investor Relations website. The benefit from income taxes on all other adjustments was calculated using an effective tax rate of 25.32% and 25.20% for the three months ended January 1, 2023 and January 2, 2022, respectively, and 25.28% and 25.74% for the twelve months ended January 1, 2023 and January 2, 2022, respectively. DUBLIN, Ohio, March 3, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended January 3, 2021. WebRevenue. (Unaudited). Remember: Total sales revenue is not equivalent to profit. Key Business MeasuresThe Company tracks its results of operations and manages its business using certain key business measures, including same-restaurant sales, systemwide sales and Company-operated restaurant margin, which are measures commonly used in the quick-service restaurant industry that are important to understanding Company performance. $2.096B. These decreases were partially offset by a higher average check. WENDY'S WebFind real-time WEN - Wendys Co stock quotes, company profile, news and forecasts from CNN Business. These increases were partially offset by a lower Company-operated restaurant margin and higher general and administrative expense. Twelve Month Periods Ended January 3, 2021 and December 29, 2019 2021 Outlook EPS Est. Wendy's of Colorado Springs's Annual Report & Profile shows critical firmographic facts: What is the company's size? The decrease in Company-operated restaurant margin was primarily the result of customer count declines as a result of the COVID-19 pandemic, labor cost increases, and higher commodity costs. Adjusted Income and Adjusted Earnings Per Share ' I am confident that Wendy's best days are yet to come, and we will continue to make meaningful progress towards achieving our vision of becoming the world's most thriving and beloved restaurant brand.". Wendys Wendys Annual The Company uses adjusted revenue, adjusted EBITDA, adjusted earnings per share and systemwide sales as internal measures of business operating performance and as performance measures for benchmarking against the Company's peers and competitors. operating week, which affects all fourth-quarter and full year comparisons to 2019. The cash paid for taxes related to the disposition of the New York market is excluded from free cash flow because the cash we received on the sales of those restaurants is being recorded in cash flows from investing activities. Dave built his business on the premise, "Quality is our Recipe," which remains the guidepost of the Wendy's system. References in this Annual Report on Form 10-K (the Form 10-K) to restaurants that we own or that are Company-operated include owned and leased restaurants. Such risks include the Company's ability to identify, attract and retain experienced and qualified franchisees, the Company's ability to effectively manage the transfer of restaurants between and among franchisees, the business and financial health of franchisees, the ability of franchisees to meet their royalty, advertising, development, reimaging and other commitments, participation by franchisees in brand strategies and the fact that franchisees are independent third parties that own, operate and are responsible for overseeing the operations of their restaurants. These increases were primarily driven by the impact of the 53rdoperating week and an increase in same-restaurant sales driven by the Company's new breakfast daypart in the U.S. The Company believes these non-GAAP financial measures are important supplemental measures of operating performance because they eliminate items that vary from period to period without correlation to our core operating performance and highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures. The Wendy's Company - THE WENDY'S COMPANY REPORTS The impact of our advertising funds is excluded because the funds are used solely for advertising and are not available for the Company's working capital needs. The decrease in free cash flow resulted primarily from the settlement of the financial institutions case, higher reorganization and realignment payments, a higher incentive compensation payout for the 2019 fiscal period paid in 2020, and rental payment timing. Excludes advertising funds expense of $4,091 and $15,116 for the three and twelve months ended January 1, 2023, respectively, and $8,497 and $25,000 for the three and twelve months ended January 2, 2022, respectively, related to the Company's funding of incremental advertising. Wendy's profit view squeezed by rising commodity costs (3). Disclosure Regarding Non-GAAP Financial MeasuresIn addition to the financial measures presented in this release in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company has included certain non-GAAP financial measures in this release, including adjusted revenue, adjusted EBITDA, adjusted earnings per share, free cash flow and systemwide sales. About Wendy'sWendy's was founded in 1969 by Dave Thomas in Columbus, Ohio. The non-GAAP financial measures included in this release should not be construed as substitutes for or better indicators of the Company's performance than the most directly comparable GAAP financial measures. All rights reserved. For the three and twelve months ended January3, 2021, excludes advertising funds expense of $6,262 and $14,600, respectively, related to the Company funding of incremental advertising during 2020. DUBLIN, Ohio, March 3, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended January 3, 2021. Conference Call and Webcast Scheduled for 8:30 a.m. Today, March 1The Company will host a conference call on Wednesday, March 1 at 8:30 a.m. Q: MEERA LTD. The Company believes investors, analysts and other interested parties use adjusted revenue, adjusted EBITDA, adjusted earnings per share and systemwide sales in evaluating issuers, and the presentation of these measures facilitates a comparative assessment of the Company's operating performance in addition to the Company's performance based on GAAP results. Wendy's (WEN) Q1 2020 earnings fall as coronavirus weighs on Free cash flow is a non-GAAP financial measure that is used by the Company as an internal measure of liquidity. In addition, excludes other international-related advertising deficit of $115 and $1,099 for the three and twelve months ended January 1, 2023, respectively. Cost of sales excludes certain costs that support restaurant operations that are not allocated to individual restaurants, which are included in "General and administrative." Wendy's The increase in adjusted EBITDA resulted primarily from higher franchise royalty revenue and fees, lower franchise support and other costs, and an increase in Company-operated restaurant margin. The Company calculates same-restaurant sales and systemwide sales growth on a constant currency basis. Wendy's improves customer satisfaction as Chick-fil-A again leads About Wendy'sWendy's was founded in 1969 by Dave Thomas in Columbus, Ohio. Three and Twelve Month Periods Ended January 3, 2021 and December 29, 2019 The provision for (benefit from) income taxes on "System optimization gains, net" was $213 and $374 for the three months ended January3, 2021 and December 29, 2019, respectively, and $(515) and $482 for the twelve months ended January3, 2021 and December 29, 2019, respectively. The provision for (benefit from) income taxes on "System optimization gains, net" was $670 and $(394) for the three months ended January 1, 2023 and January 2, 2022, respectively, and $1,714 and $8,408 for the twelve months ended January 1, 2023 and January 2, 2022, respectively. Forward-Looking StatementsThis release contains certain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. WebAverage Sales / Revenue per Year In 2009 and 2012, Wendys Restaurants reported highs of $2.44 billion in revenue. Generally, forward-looking statements include the words "may," "believes," "plans," "expects," "anticipates," "intends," "estimate," "goal," "upcoming," "outlook," "guidance" or the negation thereof, or similar expressions. The Company believes free cash flow is an important liquidity measure for investors and other interested persons because it communicates how much cash flow is available for working capital needs or to be used for repurchasing shares, paying dividends, repaying or refinancing debt, financing possible acquisitions or investments or other uses of cash. The Wendy's Company (WEN) Income Statement - Yahoo Finance 11/04/2020 Download DUBLIN, Ohio, Nov. 4, 2020 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the third quarter ended September 27, 2020. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. The increase in adjusted earnings per share was primarily driven by an increase in adjusted EBITDA. Wendy's Revenue (Annual) - YCharts "In the third quarter we posted our highest Global same-restaurant sales growth performance in over 15 years on top of outsized growth in the prior +0.27 Q2 2023. Free cash flow is also used by the Company in establishing performance goals for purposes of executive compensation. This release also includes disclosure regarding the Company's free cash flow. These decreases were partially offset by lapping a loss on early extinguishment of debt that the Company incurred as part of its debt refinancing completed in the second quarter of 2021 and higher other income primarily driven by increased interest income. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Twelve Month Periods Ended January 3, 2021 and December 29, 2019 The Company believes that its strong liquidity position, along with the momentum it is seeing in its business, supports this increase, while still leaving flexibility to invest in growth. The related presentation materials will also be available on the Company's Investor Relations website. Upgrade now. 2023 Outlook and Long-Term Outlook for 2024-2025 The Company assumes no obligation to update any forward-looking statements after the date of this release as a result of new information, future events or developments, except as required by federal securities laws, although the Company may do so from time to time. Current and historical gross margin, operating margin and net profit margin for Wendy's (WEN) over the last 10 years. You can sign up for additional alert options at any time. In addition to the factors described above, there are risks associated with the Company's predominantly franchised business model that could impact its results, performance and achievements. Wendy's score on the American customer satisfaction index (ACSI) remained unchanged from 2021 to 2022. For details on franchising, connect with us at www.wendys.com/franchising. Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty dessert. There can be no assurance that any additional regular quarterly cash dividends will be declared or paid after the date hereof, or of the amount or timing of such dividends, if any. (1)Total revenues less advertising funds revenue. DUBLIN, Ohio, Jan. 13, 2023 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported preliminary, unaudited results for the fourth quarter and fiscal year The Company does not endorse any projections regarding future performance that may be made by third parties. View original content to download multimedia:https://www.prnewswire.com/news-releases/the-wendys-company-reports-fourth-quarter-and-full-year-2022-results-301758418.html. In addition to the factors described above, there are risks associated with the Company's predominantly franchised business model that could impact its results, performance and achievements. Same-restaurant sales and systemwide sales exclude sales from Venezuela and Argentina due to the highly inflationary economies of those countries. Share Repurchases The Company repurchased 0.7 million shares for $16 million in the fourth quarter of 2020 and has repurchased 0.5 million shares for approximately $10 million thus far in the first quarter of 2021. Investor Contact:Kelsey FreedDirector - Investor Relations(614) 764-3345; kelsey.freed@wendys.com, Media Contact:Heidi SchauerVice President Communications, Public Affairs & Customer Care(614) 764-3368; heidi.schauer@wendys.com, The Wendy FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. View WEN financial statements in full, including balance sheets and ratios. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. (In Thousands) The Company uses adjusted revenue, adjusted EBITDA, adjusted earnings per share and systemwide sales as internal measures of business operating performance and as performance measures for benchmarking against the Company's peers and competitors.
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