Earnings Releases·Nov 5, 2026, 7:07 AM ET

The Wendy's Company — Third Quarter 2026 Earnings Summary

Reported Q3 total revenues of $547.0 million (down 0.5% YoY) and net income of $15.1 million (down 65.9% YoY), with diluted EPS falling to $0.08 from $0.23; year-to-date net income declined 49.2% to $70.4 million.
U.S. same-restaurant sales dropped 5.7% in Q3, contributing to a 140 basis point decline in U.S. Company-operated restaurant margin to 11.7%, driven by lower traffic and inflationary pressures.
Management revised the breakfast strategy to be location-specific, anticipating up to $200 million in unlocked systemwide restaurant-level EBITDA, while executing the "Dave's Way" multi-year strategy.
Strategic activity includes a letter-of-intent to acquire up to 163 restaurants from Meritage Hospitality Group, portfolio optimization via franchise transfers, and the appointment of a new Chief Marketing and Customer Growth Officer.
Trian Fund Management has indicated an intent to explore potential transactions to enhance stockholder value; the company declared a $0.07 quarterly dividend with no share repurchases in the quarter.