=Wendy's (WEN) reported earnings on Wed 6 Nov 19 (b/o)

Wendy's beats by $0.04, reports revs in-line; increases FY19 EPS guidance 

Reports Q3 (Sep) earnings of $0.19 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.15; revenues rose 9.3% year/year to $437.88 mln vs the $434.45 mln S&P Capital IQ Consensus.

• Co reports North America Same-Restaurant sales growth of +4.4% (note: this was already provided at Investor Day on Oct 11)

Co issues upside guidance for FY19, increases adjusted EPS guidance to -1.5% to +1.5% from prior guidance of down 3.5-6.5%; we computes the new guidance as $0.58-0.60 vs. $0.58 S&P Capital IQ Consensus. Co also increases its FY19 outlook for global systemwide sales growth to +3.5-4.0% from +3-4%.

Co says it's on track to achieve global systemwide sales of $12.0-12.5 bln in 2020 and adjusted EBITDA of $425-435 mln.

At the end of Q3, approximately 56% of the global system was image activated (renovated). This compares to approximately 50% at the end of 2018.