Wendy's Q2 Adj. EPS Meets View - Quick Facts

(RTTNews) - Wendy's Co. (WEN) reported second-quarter net income of $40.2 million or $0.11 per share, up from the prior year's $29.0 million or $0.08 per share in the comparable quarter last year.

Earnings per share from continuing operations were $0.07, same as last year.

Adjusted net income from continuing operations for the latest second quarter was $28.7 million or $0.08 per share, compared to $32.0 million or $0.09 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.09 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter declined to $489.53 million from $506.08 million in the prior year. Analysts expected revenues of $486.05 million for the quarter.

The Company continues to expect 2015 adjusted earnings per share from continuing operations of $0.31 to $0.33. Analysts expect earnings of $0.32 per share.

The Company reaffirmed its long-term outlook issued on June 3, 2015.

The Company expects high single-digit adjusted earnings per share growth in 2016 and adjusted earnings per share growth in the high teens in 2017. The Company expects adjusted earnings per share growth of greater than 20 percent beginning in 2018.

The Company's long-term outlook includes the expectation for average annual same-restaurant sales growth of approximately 2.25 to 3.0 percent for the Wendy's system, beginning in 2016.