Barrick Sells Alturas Project in Chile for $50 Million

By Dean Seal

Wendy's lowered its full-year earnings and sales guidance after reporting declining revenue in the second quarter tied to weakness among its U.S. restaurants.

The Dublin, Ohio, burger chain on Friday said it now expects global systemwide sales to fall 3% to 5% this year. It previously guided for them to be between flat with 2024 and down 2%.

Adjusted earnings are now on track to hit 82 cents to 89 cents a share, down from a prior target of 92 cents to 98 cents a share.

"In the U.S., we have work to do to improve the overall performance of the business," said Ken Cook, who stepped in as the company's interim chief executive after Kirk Tanner departed to lead Hershey last month.

For the second quarter, Wendy's posted a profit of $55.1 million, or 29 cents a share, compared with $54.6 million, or 27 cents a share, in the same quarter a year earlier.

Adjusted earnings, which strip out one-time items, were 29 cents a share too. Analysts surveyed by FactSet had been expecting 25 cents a share.

Revenue slid 1.7% to $560.9 million, still clearing analyst estimates for $558 million, according to FactSet.

The top line was dragged by lower sales in the U.S., lower franchise-royalty revenue and lower advertising-funds revenue. The bottom line meanwhile gained on a drop in advertising spend, lower reorganization and realignment costs and lower overheads.

Write to Dean Seal at dean.seal@wsj.com

Wendy's Co. said Friday it now expects 2025 profit of 82 cents a share to 89 cents a share, down from its earlier estimate of 92 cents a share to 98 cents a share. Wall Street analysts currently expect 2025 profit of 94 cents a share, according to FactSet data.

Wendy's stock (WEN) rose 0.7% in premarket trading.

(This is a developing news story, with updates coming.)

-Steve Gelsi

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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A Kremlin official confirmed that Presidents Trump and Putin will meet in the coming days, marking their first summit since 2021, while a White House official said the meeting could take place as early as next week.

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