Wendys Co (NASDAQ: WEN ) stock was down on Wednesday following the release of its earnings report for the third quarter of 2017.
Source: Mike Mozart via Flickr
During the third quarter of the year, Wendys Co reported earnings per share of 9 cents. This is down from its earnings per share of 11 cents from the same time last year. It was also a blow to WEN stock by coming in below Wall Street's earnings per share estimate of 12 cents for the quarter.
The lower earnings per share from Wendys Co for the third quarter of 2017 comes as its net income for the quarter drops. Net income for the third quarter of 2017 was $14.26 million, which is a far cry from the$48.89 million reported in the same period of the year prior.
Operating income reported by Wendys Co in the third quarter of the year was $61.66 million. The fast food company reported operating income of $106.09 million in the same quarter of the previous year.
Wendys Co reported revenue of $308 million in its third quarter of 2017. This has it following the same trend as WEN's earnings per share by being lower than the $364.01 million reported in the third quarter of 2016. It also wasn't able to reach analysts' revenue estimate of $311.96 million for the third quarter of the year.
Wendys Co also updated its outlook for the full year of 2017 in its most recent earnings report. It is now expecting earnings per share for the year to range from 43 cents to 45 cents. Unfortunately for WEN stock, this is below Wall Street's earnings per share estimate of 47 cents for 2017.
WEN stock was down 3% as of Wednesday morning, but is up 5% year-to-date.
More From InvestorPlace
- The 10 Best Growth Stocks You Can Buy Now
- 5 Blue-Chip Stocks to Buy for November
- 7 Unloved Stocks That Deserve a Second Chance
As of this writing, William White did not hold a position in any of the aforementioned securities.