- Earnings are somewhat ahead of preliminary results released last month thanks to an arcane accounting adjustment.
- Company reaffirms its 2014 outlook for adjusted EBITDA of $390M-$400M, "despite the adverse impact from winter storms during the first quarter" [they have to be kidding] Adjusted EPS is still expected at $0.34-$0.36. Average same-restaurant-sales growth of 2.5-3.5% at Company-operated stores (was 1.9% in 2013). Company-operated restaurant margin improvement of 140-160 basis points.
- Management expects to continue to sell certain Company-owned restaurants to franchisees. Another 415 restaurants are on schedule to be sold by the end of Q1 for total proceeds to about $235M. Agreements are inked on another 174 restaurants.
- 8.7M shares repurchased during 2013 at average price of $7.93 each. Pursuant to the Dutch Tender offer, 29.7M shares purchased in February at average price of $9.25 each.
- Due to the January preliminary release, there will be no CC today.
- Press release, Q4 results
- WEN -3% premarket.
Check out Seeking Alpha’s new Earnings Center »
From other sites
at CNBC.com (Jan 10, 2015)
at CNBC.com (Jan 8, 2015)
at CNBC.com (Dec 31, 2014)
at CNBC.com (Dec 11, 2014)
at CNBC.com (Dec 9, 2014)
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