NEW YORK (MarketWatch) - Wendy's Co. (WEN) reported its third-quarter loss narrowed to $1.9 million, or zero cents a share, from a loss of $26.2 million, or 7 cents a share, a year earlier. Adjusted to exclude certain items, adjusted earnings per share rose to 8 cents from 2 cents a year ago. Revenue rose to $640.8 million, from $636.3 million a year earlier, the fast-food chain said Thursday. Analysts had expected earnings of 6 cents a share on revenue of $640 million, according to FactSet. "Our third-quarter two-year Company-operated same-store sales increase of 5.9% was our strongest comp growth since 2005, driven by the highly successful Pretzel Bacon Cheeseburger promotion," said Wendy's President and Chief Executive Officer Emil Brolick. "We have also seen a solid response to our October Pretzel Pub Chicken sandwich promotion, and our third-quarter results give us the confidence to raise our 2013 Adjusted EBITDA outlook to approximately $365 million." The firm also said it expects adjusted EBITDA to decline 10% in the fourth-quarter compared to the previous year because incremental investments. However, the firm raised its full-year earnings guidance to 25 cents per share. Shares in Wendy's were down 11.2% in premarket trading.
-Ben Eisen; 415-439-6400; AskNewswires@dowjones.com
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(END) Dow Jones Newswires
11-07-13 0757ETCopyright (c) 2013 Dow Jones & Company, Inc.
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