(RTTNews) - While reporting financial results for the third quarter on Wednesday, The Wendy's Co. (WEN) raised its adjusted earnings and global systemwide sales growth guidance for the full-year 2019. The company also said it's on track to achieve new fiscal 2020 goals.
For fiscal 2019, the company now projects adjusted earnings per share change between a decline of about 1.5 percent and a growth of about 1.5 percent as well as global systemwide growth of about 3.5 to 4.0 percent.
Previously, the company expected adjusted earnings per share to decline in the range of about 3.5 to 6.5 percent and global systemwide growth of about 3.0 to 4.0 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.58 per share on revenue growth of 7.10 percent to $1.70 billion for the year. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2020, the company said it on track to achieve global systemwide sales between about $12.0 billion and $12.5 billion, while the Street is looking for revenues of $1.82 billion.
"We are well positioned to drive growth in 2020 and beyond to achieve our vision of becoming the world's most thriving and beloved restaurant brand, and to become an accelerated, efficient growth company," President and Chief Executive Officer Todd Penegor said.