Wendy's Files Q2 2024 10-Q Report
Ticker: WEN · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 30697
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Wendy's Q2 2024 10-Q is in: check financials for latest performance.
AI Summary
Wendy's Co. filed its 10-Q for the period ending June 30, 2024. The company reported its financial performance for the second quarter and the first half of the year. Key financial metrics and operational details are disclosed in this filing, providing insights into the company's ongoing business activities and financial health.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Wendy's, crucial for understanding the company's trajectory and making informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20240801 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Wendy's Co. (company) — Filer of the 10-Q report
- June 30, 2024 (date) — End of the reporting period
- 20240801 (date) — Filing date
- ONE DAVE THOMAS BLVD (address) — Company's business and mail address
- DUBLIN, OH (location) — City and State of company headquarters
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 1, 2024.
What is Wendy's Co.'s principal business address?
Wendy's Co.'s principal business address is ONE DAVE THOMAS BLVD, DUBLIN, OH 43017.
What was the previous name of Wendy's Co.?
Wendy's Co. was formerly known as WENDY'S/ARBY'S GROUP, INC., TRIARC COMPANIES INC, and DWG CORP.
What is the fiscal year end for Wendy's Co.?
Wendy's Co.'s fiscal year ends on December 29.
Filing Stats: 4,717 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-08-01 07:14:43
Filing Documents
- wen-20240630.htm (10-Q) — 1789KB
- twc_ex311xq2-24.htm (EX-31.1) — 10KB
- twc_ex312xq2-24.htm (EX-31.2) — 10KB
- twc_ex321xq2-24.htm (EX-32.1) — 6KB
- 0000030697-24-000012.txt ( ) — 7693KB
- wen-20240630.xsd (EX-101.SCH) — 50KB
- wen-20240630_cal.xml (EX-101.CAL) — 65KB
- wen-20240630_def.xml (EX-101.DEF) — 293KB
- wen-20240630_lab.xml (EX-101.LAB) — 517KB
- wen-20240630_pre.xml (EX-101.PRE) — 392KB
- wen-20240630_htm.xml (XML) — 1251KB
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 4 Unaudited Condensed Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 3 0 , 2024 and Jul y 2, 2023 5 Unaudited Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 3 0 , 2024 and July 2, 2023 6 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30 , 2024 and July 2, 2023 7 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 3 0 , 2024 and J uly 2, 2023 9 Notes to Condensed Consolidated Financial Statements 10
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 40
: OTHER INFORMATION
PART II: OTHER INFORMATION 41
Legal Proceedings
Item 1. Legal Proceedings 42
Risk Factors
Item 1A. Risk Factors 43
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43
Exhibits
Item 6. Exhibits 44
Signatures
Signatures 45 3 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. THE WENDY'S COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In Thousands Except Par Value) June 30, 2024 December 31, 2023 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 465,489 $ 516,037 Restricted cash 35,718 35,848 Accounts and notes receivable, net 117,671 121,683 Inventories 6,379 6,690 Prepaid expenses and other current assets 40,087 39,640 Advertising funds restricted assets 125,215 117,755 Total current assets 790,559 837,653 Properties 894,586 891,080 Finance lease assets 231,390 228,936 Operating lease assets 687,253 705,615 Goodwill 772,794 773,727 Other intangible assets 1,202,525 1,219,129 Investments 32,181 34,445 Net investment in sales-type and direct financing leases 291,493 313,664 Other assets 185,384 178,577 Total assets $ 5,088,165 $ 5,182,826 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 29,250 $ 29,250 Current portion of finance lease liabilities 21,220 20,250 Current portion of operating lease liabilities 49,931 49,353 Accounts payable 25,767 27,370 Accrued expenses and other current liabilities 116,456 135,149 Advertising funds restricted liabilities 122,239 120,558 Total current liabilities 364,863 381,930 Long-term debt 2,721,927 2,732,814 Long-term finance lease liabilities 567,071 568,767 Long-term operating lease liabilities 714,298 739,340 Deferred income taxes 270,128 270,353 Deferred franchise fees 89,054 90,132 Other liabilities 87,071 89,711 Total liabilities 4,814,412 4,873,047 Commitments and contingencies Stockholders' equity: Common stock, $ 0.10 par value; 1,500,000 shares authorized; 470,424 shares issued; 204,149 and 205,397 shares outstanding, respectively 47,042 47,042 Additional paid-in capital 2,964,479 2,960,035 Retained earnings 403,836 409,863 Common stock held in treasury, at cost; 266,275 and 265,027 shares, respectively ( 3,076,632 ) ( 3,048,786 ) Accumulat