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Wendy's tops 3Q estimates, but misses on same-store sales

The fast food chain’s same-restaurant sales in North America fell 0.2% in the quarter
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Wendy’s offered several promotions, including its “4 for $4” meal deal

The Wendy’s Company (NASDAQ:WEN) shares slipped after third-quarter same-store sales in North America missed Wall Street estimates.

The fast food chain reported earnings of $0.17 per share on revenue of $400.6 million compared with $0.09 EPS on revenue of $308 million in the previous year’s third quarter.

READ: Turtle Beach tops 3Q revenue and raises full-year outlook, but an earnings miss sinks shares

The Ohio-based company beat Wall Street estimates of $0.15 EPS on revenue of $405.36 million.

Shares of Wendy’s sank nearly 6% to $16.06 in Tuesday after-hours trading.

The chain offered several promotions, including a and Frosty desserts for $0.50, but it struggled in the face of growing fast food competition from the likes of McDonald’s Corporation (NYSE:MCD) and Taco Bell.

Same-restaurant sales in North America fell 0.2% in the quarter while analysts had expected same-store sales to rise 1.84%.

For the full-year, Wendy’s is expecting earnings between $0.56 per share and $0.58 per share.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

 

 

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