In a March 1st release, The Wendy’s Company (WEN) posted financial results for the 4th quarter and fiscal 2021. Along with other QSRs and casual dining competitors, all are subject to increased costs for food, packaging and labor in a competitive environment still restrained by COVID.

For the 4th Quarter of FY 2021 ending January 2nd 2022, net income was $52.1 million on total revenue of $473.2 million.  Comparable figures for the 4th quarter of fiscal 2021 ending January 3rd 2021 were net income of $38.7 million on total revenue of $474.3 million. Diluted EPS rose from $0.17 for the 4th quarter of fiscal 2021 to $0.24 for the most recent quarter.

For FY 2021 net income was $200.4 million on revenue of $1,897 million compared to net income of $117.8 on revenue of $1,734 million for FY 2020 impacted by COVID. Diluted EPS for FY 2021 attained $0.89 compared to $0.52 million for FY 2020.

For the quarter, global systemwide sales decreased by 0.8 percent compared to Q4 of FY 2021 but with International increasing by 13.5 percent. Same-store sales increased 6.1 percent in U.S. stores and 18.1 percent for international locations.

In reviewing results Todd Penegor CEO stated “2021 was a breakthrough year, as evidenced by significant growth across our business. Global same-restaurant sales accelerated to double digits on a one- and two-year basis, Company restaurant margins expanded by almost 200 basis points, and we opened more than 200 restaurants, highlighting the success of our strong brand and aligned system. He added “In 2022, we are planning to deliver another year of accelerated growth across our three long-term growth pillars: significantly building our breakfast daypart, accelerating our digital business, and expanding our footprint across the globe”.

Guidance for FY 2022 included global sales growth of seven percent and adjusted EPS of $0.70 to $0.91.

On January 2nd 2022 The Wendy’s Company posted assets of $5,101 million of which 40.3 percent comprised goodwill and intangibles. The Company had an intraday market capitalization of $4,890 million on March 2nd. WEN trades with a forward P/E of 22.3 and has ranged over a 52-week period from $18.86 to $29.46 with a 50-day moving average of $23.04.  Twelve-month trailing operating margin was 22.9 percent and profit margin 18.3 percent.  Return on assets over the past twelve months was 4.2 percent and the return on equity 35.1 percent.