Wendy's Q2 Performance: Revenue Below Expectations, Increased Costs Impact Operating Profit
Portfolio Pulse from Akanksha Bakshi
Wendy's reported Q2 2024 revenue growth of 1.6% to $570.7 million, missing analyst estimates. Operating profit declined 9% due to increased costs. Adjusted EPS of $0.27 missed the consensus estimate. The company repurchased 0.9 million shares and declared a quarterly dividend of $0.25 per share. WEN shares are down 2.24%.
August 01, 2024 | 2:10 pm
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Wendy's Q2 2024 revenue grew 1.6% to $570.7 million, missing analyst estimates. Operating profit declined 9% due to increased costs. Adjusted EPS of $0.27 missed the consensus estimate. The company repurchased 0.9 million shares and declared a quarterly dividend of $0.25 per share. WEN shares are down 2.24%.
Wendy's missed both revenue and EPS estimates, and operating profit declined due to increased costs. This negative performance is likely to impact the stock price negatively in the short term, as evidenced by the 2.24% drop in share price.
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IMPORTANCE 80
RELEVANCE 100