The Wendy's Company (WEN) Earnings Call Transcripts

The Wendy's Company's Latest Earnings Call - Q1 FY2026

In the first quarter of fiscal 2026, The Wendy's Company reported total adjusted revenue of $432.3 million, reflecting a year-over-year increase of $9.2 million. Adjusted EBITDA was $111 million, and adjusted EPS came in at $0.12. The company maintained its full-year guidance, expecting global system-wide sales to be approximately flat, with U.S. same-restaurant sales projected to decline by mid-single digits in Q2 before returning to growth in the latter half of the year. Management emphasized that their turnaround strategy, Project Fresh, is beginning to yield results, particularly in operational excellence and brand revitalization, but acknowledged ongoing challenges in the competitive landscape and inflationary pressures.

Reported metrics

Guidance from management

Wendy's maintained its full-year 2026 outlook, expecting global system-wide sales to be approximately flat, with U.S. same-restaurant sales projected to decline by mid-single digits in Q2 before returning to growth in the latter half of the year. Adjusted EBITDA guidance remains unchanged at $460 million to $480 million.

What management said

Thank you, Ken. On May 12, we will participate in the Wolf Research Virtual Investor Conference. On May 21, we will be in Chicago for an NDR hosted by BTIG. On May 27, we will participate in the Bernstein Strategic Decisions Conference in New York City, followed by the Evercore Consumer and Retail Conference on June 10 also in New York City. If you are interested in joining us at one of these events, please contact t...

Yes. And Margaret, just in terms of weather impact for the quarter, it was about a full point to the quarter, both between -- more significantly in January, but between January and February.

What analysts pressed on

Analysts expressed concerns regarding the significant decline in same-restaurant sales and the potential impact of inflation on franchisee profitability. There were questions about whether additional capital investment might be needed to support the turnaround strategy and how the company plans to address underperforming franchisees amidst these challenges.

Main topics on the call

• Project Fresh Turnaround Strategy — Management reiterated their commitment to the Project Fresh turnaround strategy, stating, "We are in the early innings of our turnaround" and highlighted improvements in customer satisfaction and operational performance....
• International Expansion — Wendy's announced a franchise agreement to open up to 1,000 restaurants in China over the next decade, marking the "largest development agreement in the company's history." This expansion is seen as a significant step in...
• Same-Restaurant Sales Decline — U.S. same-restaurant sales declined by 7.8% in Q1, attributed to a challenging competitive environment and severe weather. Management noted, "Results were also impacted by severe weather and the actions we're taking to o...
• Food Quality Enhancements — Wendy's is focusing on food quality, with management stating, "We are leaning into our quality heritage of making the best hamburgers in QSR even better." They introduced new buns and upgraded condiments to enhance their...

Read the full The Wendy's Company transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 The Wendy's Company earnings call transcripts on record, spanning February 26, 2020 to August 7, 2026. Based on this history, The Wendy's Company reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WEN

Exchange

NasdaqGS

Country

US

Sector

Consumer Discretionary

Industry

Hotels, Restaurants and Leisure

Calls on record

30

First call

February 26, 2020

Most recent

August 7, 2026

Reporting cadence

quarterly