Wendy's also announced it is revising its 2007 outlook for earnings before interest taxes depreciation and amortization (EBITDA) and earnings per share (EPS) from continuing operations.
The company's revised range for EBITDA is $295 to $315 million, compared to previous guidance of $330-340 million. The revised range is a 33-42% increase over 2006 adjusted EBITDA from continuing operations of $221 million. The company's revised range for EPS is $1.09 to $1.23 per share, compared to the company's previous guidance of $1.26 to $1.32 issued on March 20.
The primary reasons for the revised outlook are lower-than-planned same-store sales and higher-than-expected commodity costs. Same-store sales were up 3.8 percent at U.S. company restaurants in the 2007 first quarter and are up 0.7 percent in the 2007 second quarter through June 15.
