Wendy's meets 4Q earnings expectations, misses revenue forecasts

IndustriesAssociated Press

Wendy's Co. (WEN) on Tuesday reported fourth-quarter profit of $23.3 million.

On a per-share basis, the Dublin, Ohio-based company said it had net income of 6 cents. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 10 cents per share.

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The results matched Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 10 cents per share.

The hamburger chain posted revenue of $502 million in the period, falling short of Street forecasts. Analysts expected $507.6 million, according to Zacks.

For the year, the company reported profit of $121.4 million, or 32 cents per share. Revenue was reported as $2.06 billion.

Wendy's expects full-year earnings in the range of 33 cents to 35 cents per share.

Wendy's shares have climbed 15 percent since the beginning of the year. The stock has increased 15 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WEN at http://www.zacks.com/ap/WEN

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Keywords: Wendy's, Earnings Report