Wendy’s Total revenue in the third quarter of 2022 reached $532.6 million, a sharp increase from $470.3 million in the third quarter of 2021 and the brand’s operating profit was $98.1 million. dollars compared to 80.2 million dollars a year ago.
The increase in revenue was driven by the acquisition of 93 franchise-operated restaurants in Florida in the last quarter of 2021 and higher same-store sales, according to a press release on the quarterly financial statements. Revenue increased due to higher franchise royalty revenue and advertising fund revenue due to higher same-restaurant sales.
“I am proud of the Wendy’s system for achieving a significant year-over-year acceleration in global same-restaurant sales, which enabled us to achieve a fourth consecutive quarter of double-digit global same-restaurant sales on a two-year basis” , said the President and CEO. Todd Penegor said in the release. “This extends our track record of consistent sales growth while underscoring the strength of our strategic pillars. We expanded our global footprint, maintained global digital sales mix at around 10%, and accelerated our US breakfast in the quarter following our first Major Menu Innovation since launch. Our focus on executing on our priorities, our alignment with the best franchisees in the business, and the continued dedication of our employees gives me confidence that we will achieve our vision of becoming the fastest growing and most loved restaurant brand in the world. world. .”
Net profit was $50.5 million in Q3 2022, compared to $41.2 million in Q3 2021, mainly due to an increase in operating profit. Adjusted EBITDA was $134.5 million in Q3 compared to $112.2 million in Q3 2021. The increase was primarily driven by higher other operating income, higher royalty income franchise and the favorable impact of acquisitions.
Adjusted EPS was $0.24, compared to $0.19 in Q3 2021. The increase was driven by an increase in Adjusted EBITDA, a decrease in the number of shares outstanding due to the share buyback program shares of the company and an increase in interest income.
This year the brand expects:
- Global system-wide sales growth of 6% to 7%.
- Adjusted EBITDA of $490 million to $500 million.
- Operating cash flow of $305 million to $320 million.
- Capital expenditures of $90-95 million.
- Adjusted EPS from $0.84 to $0.88.
- Free cash flow of $215 million to $225 million.