Wendy’s reports $435.34m increased total revenues in Q2 2019

8th August 2019 (Last Updated August 8th, 2019 13:36)

American quick service restaurant chain Wendy’s has reported total revenues of $435.34m for the second quarter (Q2) ending 30 June 2019, compared to $411m for the same period last year.

Wendy’s reports $435.34m increased total revenues in Q2 2019
Wendy’s reported total revenues of $435.34m for the second quarter (Q2) of 2019. Credit: Nheyob.

American quick service restaurant chain Wendy’s has reported total revenues of $435.34m for the second quarter (Q2) ending 30 June 2019, compared to $411m for the same period last year.

The 5.9% increase in revenues was due to higher sales at company-operated restaurants and an increase in franchise royalty revenue.

Wendy’s global system wide sales, which includes sales at both company-operated and franchise restaurants, grew by 3.3%.

Operating profit of the company was $80.57m during the second quarter of this year, compared to $71.48m for the same period last year.

The increase in operating profit was driven by an increase in franchise royalty revenue and an increase in net franchise rental income.

The quick service restaurant also reported a net income of $32.38m compared to $29.87m in the prior year.

Wendy’s president and CEO Todd Penegor said: “We delivered another quarter of strong earnings growth and are pleased with our continued progress to build an even stronger foundation for the Wendy’s brand.

“We are executing on our plan to accelerate same-restaurant sales in North America and drive global restaurant expansion, fuelled by a healthy restaurant economic model.

“Our relentless focus on bringing every element of The Wendy’s Way to life by providing food our customers love, friendly service, value, and an inviting atmosphere will continue to drive growth in the future.”

The quick service restaurant chain also reported adjusted EBITDA of $117.77m for the second quarter, compared to $109.54m for the same period last year.

Wendy’s opened 28 restaurants globally during the second quarter.