Wendy's topped most expectations for the first quarter as sales in restaurants open at least a year climbed higher.
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Shares surged more than 4 percent before the opening bell Wednesday and appeared headed for a 10-year high.
The hamburger chain earned $22.3 million, or 9 cents per share, for the period ended April 2. A year earlier the Dublin, Ohio, company earned $25.4 million, or 9 cents per share.
That was a penny better than what analysts surveyed by Zacks Investment Research expected.
Revenue fell to $285.8 million from $378.8 million, as the chain had fewer company-run restaurants. That was still better than the $279.3 million in revenue that analysts polled by Zacks predicted.
Sales at North American locations open at least a year rose 1.6 percent. The company said that the sales metric has now climbed for 17 straight quarters.
Wendy's Co. still expects full-year adjusted earnings in a range of approximately 45 cents to 47 cents per share. Analysts surveyed by FactSet are looking for earnings of 46 cents per share.
Elements of this story were generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on WEN at https://www.zacks.com/ap/WEN
Keywords: Wendy's, Earnings Report