Written by StockNews.com

Wendy's Co. (Nasdaq:WEN) early Wednesday posted better than expected first quarter earnings and offered an optimistic outlook for the rest of the year, sending its shares jumping higher in morning trading.

The Dublin OH-based fast food giant reported Q1:

• earnings per share (EPS) of $0.09, which was $0.01 better than the Wall Street consensus estimate of $0.08 [while]
• revenues fell 24.6% from last year to $285.8 million, but still beat analysts’ view for $282.03 million.

Looking ahead, WEN:

• reaffirmed its full-year 2017 EPS guidance of $0.45 to $0.47, which straddles Wall Street’s consensus view of $0.46,
• ...[but] sees adjusted EBITDA of $400 to $406 million, up 2% to 4% from its prior view....[and] still
• expects global system-wide constant currency sales of $12 billion.

[President and Chief Executive Officer, Todd Penegor, said]...via press release:

“We are pleased with our solid first quarter results as we were able to deliver high quality of earnings despite tough prior year comparisons.

Driven by our continued focus on profitably growing customer counts with a balanced marketing plan, we have now recorded 17 consecutive quarters of positive same-restaurant sales in North America.

In addition to consistently delivering solid same-restaurant sales, we continue to build momentum towards our global expansion goals with 33 total new restaurant openings during the first quarter.

Along with our exceptional and dedicated franchisees, we remain committed to our brand purpose of creating joy and opportunity through our food, family and community, and delighting every customer.”

Wendys Co. shares rose $0.79 (+5.23%) in premarket trading Wednesday. Year-to-date, WEN has gained 12.26%, versus a 7.58% rise in the benchmark S&P 500 index during the same period.

WEN currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #11 of 53 stocks in the Restaurants category.