Wendys Stock Slides as Q3 Same-Restaurant Sales Miss the Mark

WEN stock was declining more than 5% after hours

Wendys stock (NASDAQ:WEN) is sinking more than 5% after hours following the company’s quarterly earnings report, which was released late in the day on Tuesday and it included a same-restaurant sales miss for the period.

Wendys Stock

The burger chain said that for its third quarter of its fiscal 2018, its same-restaurant sales grew 0.2% compared to its year-ago quarter, which was below what analysts were calling for. The company’s same-restaurant sales had increased 2% during its third quarter of its fiscal 2017.

Wendy’s added that its revenue for the period came in at $2.52 billion for North America, $127 million for its international locations and $2.65 billion for all its stores around the world. This topped the $2.625 billion that the burger chain brought in during its year-ago quarter.

“We are proud of the progress we continue to make, ensuring more customers enjoy Wendy’s® more often by expanding our number of restaurants, reimaging existing restaurants, and executing a well-balanced marketing approach that strengthens our brand,” Wendy’s President and CEO Todd Penegor said in a statement along with the chain’s earnings call.

WEN stock is down more than 5.2% after the bell as the company’s third-quarter results were below what analysts were calling for in their consensus estimate. Shares had been surging a bit over 0.2% during regular trading hours Tuesday in anticipation of its results.

Article printed from InvestorPlace Media, https://investorplace.com/2018/11/wendys-stock-wen/.

©2020 InvestorPlace Media, LLC