Wendy's (WEN) Q2 Earnings Report Preview: What To Look For

Fast-food chain Wendy’s (NASDAQ:WEN) will be reporting earnings this Friday morning. Here’s what to expect.

Wendy's met analysts’ revenue expectations last quarter, reporting revenues of $523.5 million, down 2.1% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations and a slight miss of analysts’ same-store sales estimates.

Is Wendy's a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Wendy’s revenue to decline 2.3% year on year to $557.6 million, a reversal from the 1.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 7 downward revisions over the last 30 days (we track 19 analysts). Wendy's has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Wendy’s peers in the traditional fast food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Dutch Bros delivered year-on-year revenue growth of 28%, beating analysts’ expectations by 3.1%, and McDonald's reported revenues up 5.4%, topping estimates by 2.3%.

Read our full analysis of Dutch Bros’s results here and McDonald’s results here.

Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the traditional fast food stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 9.3% on average over the last month. Wendy's is down 10.6% during the same time and is heading into earnings with an average analyst price target of $13.38 (compared to the current share price of $10.09).

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