THE WENDY'S COMPANY REPORTS THIRD QUARTER 2024 RESULTS

Core Insights - The Wendy's Company reported third-quarter results for 2024, highlighting continued sales growth and customer engagement through digital and loyalty platforms [2][3]. Operational Highlights - Systemwide sales growth for the U.S. was 0.9% and 7.7% for international, with global growth at 1.8% [4]. - Same-restaurant sales growth in the U.S. was 0.2%, while international saw 0.7%, leading to global growth of 0.2% [4]. - Total systemwide sales in the U.S. reached $3,141 million, up from $3,113 million in Q3 2023 [4]. - The company opened 22 new restaurants in the U.S. and 42 internationally, resulting in a total of 6,011 U.S. restaurants and 1,281 international restaurants by the end of the quarter [4]. Financial Highlights - Total revenues increased to $566.7 million from $550.6 million year-over-year, marking a 2.9% increase [5]. - Adjusted revenues were $443.6 million, a slight increase of 0.5% from the previous year [5]. - U.S. company-operated restaurant margin remained flat at 15.6% compared to the prior year [5]. - Operating profit decreased to $94.7 million from $101.6 million, primarily due to increased advertising investments and higher general and administrative expenses [5][6]. - Net income for the quarter was $50.2 million, down from $58.0 million, reflecting a decrease in operating profit and a higher effective tax rate [5][6]. Cash Flow and Capital Expenditures - Cash flows from operations increased to $286.7 million, up 6.4% year-over-year [5]. - Capital expenditures were $52.4 million, a decrease of 6.0% from the previous year [5]. - Free cash flow rose to $234.1 million, reflecting a 3.4% increase [5]. Dividend and Share Repurchase - The company declared a quarterly cash dividend of $0.25 per share, payable on December 16, 2024 [6]. - In Q3 2024, the company repurchased 1.5 million shares for $25.2 million, with an additional 0.2 million shares repurchased in Q4 [6]. 2024 Outlook - The company expects global systemwide sales growth of approximately 3% and adjusted earnings per share between $0.99 and $1.01 [8]. - Adjusted EBITDA is projected to be between $535 million and $545 million, with cash flows from operations expected to range from $365 million to $385 million [8].