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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
The Wendy’s Company
The Wendy’s Company (WEN) investor relations material
The Wendy’s Company Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary7 Aug, 2026
Executive summary
Leadership transition brought in a new CEO and CFO/Chief Strategy Officer with turnaround experience, focusing on operational excellence and a comprehensive strategic plan to address underperformance and restore growth.
Five strategic focus areas were outlined: menu quality and value, distinct branding and marketing, operational excellence, digital experience, and leveraging restaurant assets for growth.
Leadership emphasized urgency, transparency, and accountability, with a commitment to deliver a full strategic plan by the next quarterly update.
Systemwide restaurant count decreased by 71 net restaurants in Q2 2026.
Financial highlights
Global systemwide sales declined 6.5% year-over-year; U.S. same-restaurant sales fell 7.0%, international same-restaurant sales fell 2.3%.
Adjusted revenue was $443.2 million, down 1.4% from the prior year; Q2 2026 revenue was $570.6 million, up 1.7% year-over-year.
Adjusted EBITDA was $124.1 million, down 15.4% year-over-year; adjusted EPS was $0.18, down 37.9%.
Net income for Q2 2026 was $32.6 million, down from $55.1 million in Q2 2025.
Free cash flow for the first half was $120.3 million, up 9.9% year-over-year.
Outlook and guidance
Full-year 2026 financial outlook was withdrawn as leadership reassesses business and turnaround planning.
Traffic and sales headwinds are expected to persist in the second half, with continued margin and EBITDA pressure from sales deleverage, 5–6% commodity inflation, and increased G&A.
Management plans to manage costs through selective menu price increases and operational efficiencies.
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Latest events from The Wendy’s Company
- Sales fell 5.5%, but international growth and China expansion support a flat 2026 outlook.WEN
Q1 2026 - Key votes include director elections, share plan amendment, and a blank-check stock restriction.WENProxy filing
- Annual meeting covers director elections, equity plan amendment, auditor, pay, and ESG progress.WENProxy filing
- 2025 global sales fell 3.5% as U.S. softness was offset by strong international growth.WENQ4 2025
- Q2 2024 delivered 2.6% sales growth, digital gains, and reaffirmed full-year guidance despite margin pressure.WENQ2 2024
- Q3 2024 saw 1.8% sales growth and digital gains, but net income and EPS declined.WENQ3 2024
- Q1 global sales fell 1.1% as U.S. declined and international grew, with $173M+ returned to shareholders.WENQ1 2025
- Targets 8,100-8,300 units and up to $18B sales by 2028 with tech and global expansion.WENInvestor Day 2025
- Q4 2024 saw 5.4% sales growth, digital up 40%, and 2025 targets higher CapEx and buybacks.WENQ4 2024
Next The Wendy’s Company earnings date
Q3 20265 Nov, 2026
The Wendy’s Company
Next The Wendy’s Company earnings date
Q3 20265 Nov, 2026
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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.