Wendy’s reports Q1 adjusted EPS 20c, consensus 10c

Reports Q1 revenue $523.5M, consensus $517.97M. Reports Q1 Same-Restaurant Sales Growth global down 6.8%. “We are taking decisive action to strengthen the Wendy’s (WEN) system and improve performance,” said Ken Cook, Interim CEO. “During the first quarter, we introduced a new Biggie platform, upgraded our premium hamburgers, and launched new chicken sandwiches. Additionally, our focus on operational excellence is driving improvement in order accuracy and key customer satisfaction metrics. While our first quarter results reflect a business in the early stages of a turnaround, we are making progress to improve our U.S. business and are confident in the direction we are heading.”