The Wendy's Company Reports Financial Results for Fourth Quarter and Full Year 2023; Kirk Tanner Details

The Wendy's Company recently reported its financial results for the fourth quarter and full year ended December 31, 2023.

"The Wendy's^® system delivered strong sales, profit, and cash flow growth in 2023, all supported by progress on our strategic growth pillars," President and Chief Executive Officer Kirk Tanner said. "2023 marked the brand's 13^th consecutive year of global same-restaurant sales growth, highlighting the system's consistent execution and strong franchisee alignment as the team continued to grow the beloved Wendy's brand. The team also significantly accelerated digital sales, opened nearly 250 new restaurants across the globe, and expanded U.S. Company-operated restaurant margin to pre-COVID levels despite extreme inflationary headwinds in recent years.”

According to a release, several highlights from the report include:

• Fourth quarter total revenue was $540.7 million, compared to $536.5 million the year previously
• Fourth quarter operating profit was $86.6 million compared to $84 million the year previously
• Net income increased to $46.9 million compared to $41 million the year previously

"I am excited to begin this next chapter for Wendy's with new plans and investments to accelerate our global growth, deliver significant restaurant margin expansion, and drive long-term shareholder value. I am looking forward to working with the team to deliver on the significant opportunities ahead,” concluded Tanner.

To dive deeper into the results, click here.

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