Wendy's Co. said its normalized net income for the fiscal first quarter ended March 29 was 8 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.
EPS rose year over year from 3 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $29.4 million, a gain from $11.9 million in the year-earlier period.
The normalized profit margin climbed to 4.5% from 2.3% in the year-earlier period.
Total revenue declined 8.3% year over year to $466.2 million from $508.4 million, and total operating expenses decreased 14.6% on an annual basis to $409.2 million from $479.1 million.
Reported net income declined 43.6% on an annual basis to $26.1 million, or 7 cents per share, from $46.3 million, or 12 cents per share.
