Published February 28, 2013
Wendy’s (WEN) revised its fourth-quarter earnings higher to reflect a lower estimate for a charge related to discontinuing some breakfast operations.
The company reported preliminary results last month. Its earnings soared amid growth initiatives that pushed revenue and margins higher, while same-store sales edged down.
Wendy’s adjusted its earnings on Thursday. Earnings for the quarter ended Jan. 16 were $26.39 million, well above the $22.39 million it released last month. Per-share earnings were raised a penny to seven cents, and adjusted per-share earnings were also up a penny at nine cents.
Analysts were looking for earnings of four cents a share.
The modified results also reflected lower depreciation and amortization compared to the preliminary report.
The fast-food chain also backed its full-year outlook for adjusted per-share earnings of $0.18 to $0.20.
Shares of Wendy’s were up 10 cents, or 1.82%, to $5.60 just after Thursday’s opening bell.