THE WENDY'S COMPANY REPORTS THIRD QUARTER 2025 RESULTS

Core Insights - The Wendy's Company reported third-quarter results that met expectations, highlighting strong international sales growth of 8.6% and the opening of 54 new restaurants globally [1][11] - U.S. comparable sales at company-operated restaurants outperformed the system by 4%, driven by operational excellence and the successful launch of new chicken tenders [2][11] - The company is implementing Project Fresh, a comprehensive turnaround plan focused on brand revitalization and operational excellence [2] Operational Highlights - Systemwide sales growth for the third quarter was 1.8%, with U.S. sales declining by 4.4% and international sales growing by 8.6% [2][11] - Same-restaurant sales growth was 0.2% in the U.S. and 3.0% internationally for the third quarter [2] - The total number of restaurants increased to 7,363, with 54 new openings in the third quarter [11] Financial Highlights - Total revenues for the third quarter decreased by 3.0% to $549.5 million, while adjusted revenues were nearly flat at $442.5 million [4][11] - Net income fell to $44.3 million, a decrease of 11.8%, and adjusted EBITDA increased by 2.1% to $138.0 million [4][11] - Reported diluted earnings per share were $0.23, with adjusted earnings per share decreasing by 4.0% to $0.24 [4][11] Cash Flow and Shareholder Returns - Cash flow from operations was $275.3 million, while free cash flow decreased to $195.6 million [4][11] - The company returned $40.7 million to shareholders through dividends and share repurchases [11][16] - A quarterly dividend of $0.14 per share was declared, payable on December 15, 2025 [16] 2025 Outlook - The company reaffirmed its global systemwide sales growth outlook of -5.0% to -3.0% and adjusted EBITDA expectations of $505 to $525 million [17] - Free cash flow expectations were raised to $195 to $210 million, reflecting a positive adjustment in capital expenditures [18]