Wendy's

Wendy's (WEN) Q2 2026 Earnings

Reported Aug 7, 2026 at 7:06 AM ET · SEC Source

Q2 26 EPS Adjusted

$0.18

BEAT +10.16%

Est. $0.16

Q2 26 Revenue

$570.6M

BEAT +2.30%

Est. $557.7M

Market Reaction

Did WEN Beat Earnings? Q2 2026 Results

Wendy's Co. Delivered a beat-and-retreat quarter in Q2 2026, posting adjusted EPS of $0.18 against the $0.16 consensus estimate for a 10.16% beat, its fourth consecutive quarter of exceeding EPS expectations, even as the underlying business showed si… Read more Wendy's Co. Delivered a beat-and-retreat quarter in Q2 2026, posting adjusted EPS of $0.18 against the $0.16 consensus estimate for a 10.16% beat, its fourth consecutive quarter of exceeding EPS expectations, even as the underlying business showed significant strain. Revenue rose 1.7% year-over-year to $570.57 million, clearing the $557.73 million consensus by 2.30%, though the headline growth masked deteriorating fundamentals; the gain was largely driven by advertising fund reallocation and incremental sales from franchise acquisitions completed last year, while adjusted revenues, stripping out those funds, actually declined 1.4%. U.S. Same-restaurant sales fell 7.0% as traffic declines and commodity and labor inflation compressed company-operated restaurant margins to 13.8%, a 240-basis-point contraction. New CEO Bob Wright, who returned to lead a turnaround effort, outlined five strategic pillars to rebuild the brand, while the company withdrew its full 2026 financial outlook entirely, slashed its quarterly dividend to $0.07 per share, and signaled that capital will be redirected toward recovery initiatives rather than shareholder returns.

Key Takeaways

  • U.S. same-restaurant sales decreased 7.0%, driven by traffic declines
  • International same-restaurant sales decreased 2.3%
  • U.S. Company-operated restaurant margin declined 240 basis points to 13.8% due to commodity inflation, traffic decline, and labor rate inflation
  • Higher advertising funds revenue from local-to-national reallocation and non-recurring vendor incentives
  • Increased company-operated restaurant sales from franchise restaurant acquisitions in Q3 2025
  • Lower franchise royalty revenue and franchise rental income
  • G&A expense increased 11.3% due to professional services and compensation investments
  • Higher interest expense contributed to net income decline

WEN Forward Guidance & Outlook

The company has withdrawn its 2026 financial outlook. New leadership is taking the opportunity to fully assess business opportunities and formulate a comprehensive turnaround plan, including the optimal deployment of capital.

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WEN YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

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WEN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26

“Wendy's is an iconic brand with exceptional assets. Today we are clearly not performing at our potential. I returned to Wendy's because I believe we can fix our issues and I am excited to work with our team and our franchisees to drive a strong turnaround.”

— Bob Wright, Q2 2026 Earnings Press Release