UPDATE 3-Wendy's/Arby's profit matches view, shares up

Thu Nov 5, 2009 5:29pm GMT
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* Q3 adjusted EPS 6 cents matches analysts' view

* Total revenue $903.2 mln vs Street view of $916.5 mln

* Shares up 3.9 percent (Adds analyst comment, details, byline; updates stock)

By Lisa Baertlein

LOS ANGELES, Nov 5 (Reuters) - Wendy's/Arby's Group Inc (WEN.N: Quote, Profile, Research), the No. 3 U.S. fast-food chain, reported adjusted quarterly profit in line with analysts' expectations, and its shares rose 3.9 percent.

"We benefited from lower commodity costs in the third quarter and expect that trend to continue in the fourth quarter," Chief Executive Roland Smith said in a statement.

The company, formed after Arby's owner Triarc bought Wendy's International Inc for just over $2 billion in September, reported third-quarter net income of $14.7 million, or 3 cents a share. Figures for the year-earlier quarter were not comparable due to the timing of the merger.

Excluding after-tax special charges, it earned 6 cents a share, matching analysts' average forecast, according to Thomson Reuters I/B/E/S.

Consolidated revenue from the 10,000-restaurant chain was $903.2 million, falling short of the $916.5 million analysts had expected.  Continued...

 
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