Wendy's Co. Cuts FY22 Adj. EPS Outlook; Boosts Share Buyback

(RTTNews) - In a Form 8-K filing with the U.S. Securities and Exchange Commission on Monday, The Wendy's Co. (WEN) lowered its adjusted earnings guidance for the full-year 2022, while maintaining annual global systemwide sales growth outlook. The company also increased its share repurchase authorization.

For fiscal 2022, the company now projects adjusted earnings in a range of $0.82 to $0.86 per share, down from the prior forecast in the range of $0.87 to $0.91 per share, while continuing to expect global systemwide sales growth of 6 to 8 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.90 per share on revenue growth of 10.4 percent to $2.10 billion for the year. Analysts' estimates typically exclude special items.

Additionally, on April 1, 2022, the Company's Board of Directors approved an increase of $150 million in the Company's previously announced share repurchase authorization, expiring in February 2023, to $250 million.