Wendy's 4Q adj. profit tops Wall Street's view

Published on NewsOK Modified: January 16, 2013 at 5:27 pm •  Published: January 16, 2013
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For the full year, Wendy's reported earnings from continuing operations of 1 cent per share. Adjusted earnings were 16 cents per share. Revenue rose 3 percent to $2.51 billion.

Revenue at both company-run and franchised North American restaurants open at least 15 months and remodeled restaurants reopened at least three straight months increased 1.6 percent.

Wendy's Co. still expects fiscal 2013 adjusted earnings of 18 cents to 20 cents per share. Wall Street forecasts adjusted earnings of 17 cents per share.

Shares rose 18 cents, or 3.7 percent, to close at $5.08 Wednesday. Its shares have traded in a 52-week range of $4.09 to $5.42.

The Dublin, Ohio, company's guidance assumes a 2 percent to 3 percent increase in revenue at company-run North American restaurants open at least 15 months and remodeled restaurants reopened at least three straight months.

The chain plans to report its finalized results for the fourth-quarter and full-year on Feb. 28. It had 6,560 restaurants globally as of Dec. 30.