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The Wendy’s Company (WEN) investor relations material
The Wendy’s Company Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary8 Aug, 2025
Executive summary
Global systemwide sales declined 1.8%–1.9% in Q2 2025, with U.S. same-restaurant sales down 3.6% and international sales up 8.7%.
Adjusted EBITDA rose 2.5% to $146.6M and adjusted EPS increased 7.4% to $0.29 year-over-year.
Net income for Q2 2025 was $55.1M, up from $54.6M in Q2 2024.
26 net new restaurants were added in Q2, with 118 net additions year-to-date, supporting a 2–3% full-year net unit growth target.
$88M–$88.7M was returned to shareholders via dividends and share repurchases in Q2.
Financial highlights
Q2 2025 revenues were $560.9M (down 1.7% year-over-year); adjusted revenues were $449.6M.
U.S. company-operated restaurant margin was 15.6%–16.2%, down 20–30 bps year-over-year due to commodity and labor inflation.
Free cash flow for the first half was $109.5M, down 3% year-over-year.
Operating profit for Q2 2025 was $104.3M, up from $99.5M in Q2 2024.
G&A expenses decreased 3.3% to $59.5M.
Outlook and guidance
Full-year 2025 global net unit growth reaffirmed at 2–3%.
Global systemwide sales growth guidance revised to (5.0)% to (3.0)% year-over-year.
Adjusted EBITDA guidance: $500M–$525M; adjusted EPS: $0.82–$0.89.
Free cash flow, including franchise development fund, expected at $160M–$175M; capital expenditures and franchise development fund investments projected at $165M–$175M.
Management anticipates continued labor and commodity inflation for the remainder of 2025.
How will Wendy's leverage data analytics?
Assess franchisee sentiment on value offers.
How will Wendy's improve franchisee economics?
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Next The Wendy’s Company earnings date
Q3 20257 Nov, 2025
Next The Wendy’s Company earnings date
Q3 20257 Nov, 2025
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Frequently asked questions
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. The company franchises and operates Wendy's Old Fashioned Hamburgers restaurants and Dave's Hot 'N Juicy 1/4-lb. Original Recipe Hamburger restaurants. It also franchises and licenses the operation of the Veggie Patch concept restaurant; and licenses the Dave's Hot 'N Juicy 1/4-lb. Original Recipe Sandwich for certain foreign markets. As of December 31, 2017, it operated or franchised a total of 6,578 restaurants in the United States and 27 countries and territories outside the United States. The Wendy's Company is based in Dublin, Ohio.
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