On August 9^th, the Wendy's Company (WEN) reported on results for the 2^nd quarter of FY 2023 ending July 2^nd, 2023. The Company corresponded to Zack’s estimate on EPS but was 1.4 percent below on the top line. For the quarter, the company earned $59.6 million on total revenue of $5,616 million with a diluted EPS of $0.28.  For the 2^nd quarter of 2022, comparable figures were net income of $48.2 million on total revenue of $537.8 million with an EPS of $0.22.

Revenue was 11.0 percent higher than the 2^nd quarter of 2022 and operating margin advanced from 23.4 percent to 25.3 percent.

Growth in same-restaurant sales for the 2^nd quarter of 2023 compared to the corresponding quarter in fiscal 2022 attained 6.0 percent for the U.S., International was up 10.3 percent with a global average of 6.5 percent. For fiscal 2023, the Wendy's Company expects global system wide sales to grow six to eight percent with adjusted EPS of $0.95-$1.00 and with a capital expenditure of $75-$85 million.

In commenting on Q2 results on the investors’ call, Todd Penegor, president and CEO stated, “The recent push into late-night paid off with double-digit sales growth versus both the prior quarter and prior year." He added, “Margins also got a nice boost too, thanks to higher checks and less staff required”. He concluded "We're seeing higher average checks and a skew towards delivery. We can continue to drive sales without adding any labor, so late night is really margin accretive to us through the bottom line."

On July 2^nd the Wendy's Company posted total assets of $5,354 million of which $2,021 million comprised intangibles and goodwill.  The company carries $4,280 million in long-term debt, lease and finance liabilities.

The Wendy's Company has a market capitalization of $4,518 million and has traded over the past fifty-two weeks in a range of $18.50 to $223.90 with a 50-day moving average of $21.73.  On a trailing twelve-month basis, operating margin was 17.0 percent and profit margin 8.9 percent.  The company generated a return on assets of 4.2 percent and 17.0 percent on equity. 

WEN closed at $21.54 on Wednesday, August 9^th before the release, opening and closed almost unchanged on Thursday August 10^th at $21.52.