Wendy’s Revises 4Q Earnings Higher

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Published February 28, 2013

| FOXBusiness

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.

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