Stock Monitor: Famous Dave's of America Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 13, 2018 / If you want access to our free earnings report on The Wendy's Co. (NASDAQ: WEN) ("Wendy’s"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WEN. The Company reported its financial results on May 08, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The quick-service restaurant Company surpassed analysts’ estimates for revenues and earnings for Q1 FY18. In addition, the Company provided its guidance for FY18 and reaffirmed its outlook for 2020. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the quarter ended April 01, 2018, Wendy’s aggregated revenues of $380.6 million compared to $285.8 million in the first quarter of 2017, increasing 33.1% on a y-o-y basis. The Company’s revenue numbers exceeded analysts’ expectations of $379.5 million.
During Q1 FY18, Wendy’s total costs and expenses rose 44.5% to $325.3 million compared to $225.1 million in Q1 FY17. The Company’s operating profit dipped 9% to $55.3 million in the reported quarter compared to $60.7 million in the year ago comparable period.
Wendy’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased $90.8 million in Q1 FY18 compared to $89.2 million in Q1 FY17.
For the reported quarter, Wendy’s net income dropped 9.8% to $20.2 million compared to $22.3 million in the year ago same period. The Company posted an adjusted net income of $27.5 million in Q1 FY18, reflecting a growth of 25% from $22.0 million in Q1 FY17.
Wendy’s diluted earnings per share (EPS) decreased 11.1% to $0.08 in the reported quarter compared to $0.09 per share in the corresponding quarter of last year. For Q1 FY18, the Company’s adjusted EPS advanced 22.2% to $0.11 in Q1 FY18 compared to $0.09 in Q1 FY17, beating analysts’ estimates of $0.10.
For Q1 FY18, Wendy’s had 33 global restaurant openings, with a slight decrease in net unit growth. Image Activation remains an integral part of its global growth strategy, and includes reimaging existing restaurants and building new restaurants. At the end of the reported quarter, 44% of the global system was image activated. The Company did not facilitate any Franchise Flips during the reported quarter.
As of April 01, 2018, Wendy’s cash and cash equivalents stood at $187.7 million compared to $171.4 million as of December 31, 2018. The Company had a long-term debt of $2.78 billion as of April 01, 2018, versus $2.72 billion as of December 31, 2017.
Wendy’s had inventories of $3.1 million as of April 01, 2018, versus $3.2 million as of December 31, 2017. For the reported quarter, the Company generated cash inflow from operating activities of $68.7 million compared to $42.1 million in the prior year’s same period.
During the first quarter of the fiscal year 2018, Wendy’s repurchased 2.4 million shares at a cost of $39.4 million.
For FY18, Wendy’s expects North America same-restaurant sales growth to be in the band of approximately 2.0% to 2.5%, with commodity and labor inflation within 1% to 2% and 3% to 4%, respectively. The Company expects adjusted EBITDA to be in the range of approximately $420 million to $430 million for FY18. In addition, the Company anticipates adjusted EBITDA margin to be in the band of approximately 33% to 34% for FY18.
For FY18, Wendy’s anticipates adjusted EPS to be in the range of $0.55 to $0.57. The Company expects cash flows from operations to be approximately $295 million to $320 million for FY18.
By the end of 2020, Wendy’s projects global system-wide sales, in constant currency and excluding Venezuela, to be $12 billion, and global restaurant count to be 7,250. Additionally, the Company expects adjusted EBITDA margin to be in the range of 37% to 39% by the end of 2020.
Stock Performance Snapshot
June 12, 2018 - At Tuesday’s closing bell, The Wendy's’ stock marginally climbed 0.34%, ending the trading session at $17.85.
Volume traded for the day: 3.21 million shares.
Stock performance in the last month – up 7.34%; previous three-month period – up 5.00%; past twelve-month period – up 16.51%; and year-to-date – up 8.71%
After yesterday’s close, The Wendy's’ market cap was at $4.05 billion.
Price to Earnings (P/E) ratio was at 90.61.
The stock has a dividend yield of 1.90%.
The stock is part of the Services sector, categorized under the Restaurants industry. This sector was up 0.6% at the end of the session.
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