Wendy’s Boosts Profit Forecast
Dow Jones/Associated Press
Wendy’s International Inc. raised its 2002 earnings guidance, citing strong June and second-quarter sales.
Wendy’s said it expected to earn $1.87 to $1.92 a share this year, up from an earlier forecast of $1.85 to $1.90. The company earned $1.65 a share in 2001 on $2.4 billion in revenue.
Analysts on average forecast earnings of $1.90 for the year, according to Thomson First Call.
Shares of Wendy’s closed at $38.94 on the NYSE, down $1.36, or 3.4%.
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