Wendy's beats by $0.05, beats on revs; guides FY16 EPS above consensus; provides update on cybersecurity investigation :
- Reports Q1 (Mar) earnings of $0.11 per share, $0.05 better than the Capital IQ Consensus of $0.06; revenues fell 16.2% year/year to $378.8 mln vs the $350.46 mln Capital IQ Consensus.
- Reports North America system same-restaurant sales increase 3.6% (+6.8% on a two-year basis).
- Co issues upside guidance for FY16, sees EPS of 0.38-0.40 vs. $0.36 Capital IQ Consensus Estimate (prior guidance $0.35-0.37).
- Raises outlook for 2016 Adjusted EBITDA to down 1 percent to up 1 percent compared to 2015 from its prior guidance of down 2 percent to flat.
- Continues to expect same-restaurant sales growth of approximately 3 percent for the North America system.
- "As we look to the second quarter, the performance of our '4 for $4' promotion remains solid with the addition of our Crispy Chicken BLT to the offering," Penegor said.
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