Wendy's down after withdrawing 2026 forecasts, halving dividend

Wendy's

07/08/2026 12:42

** Shares of restaurant chain Wendy's WEN.O down ~3% at $7.18 premarket
** Co withdraws its 2026 forecasts, saying new leadership is assessing business opportunities to formulate a comprehensive turnaround plan
** Announces halving of its dividend to an annualized rate of 28 cents per share
** Posts Q2 same-restaurant sales decline of 6.3% from a year earlier, compared to analysts' expectations of a 4.3% fall - data compiled by LSEG
** Quarterly adj. EPS comes in at 18 cents, beating expectations by 2 cents, but falls ~38% from a year earlier
** As of last close, stock down ~11% YTD

(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))