BUZZ-Wendy's up on Q1 profit beat

Reuters05-02

** Shares of restaurant chain Wendy's up 4.4% at $20.50

** Co tops estimates for Q1 adjusted profit as it laps benefits from price hikes last year, as well as higher spending per transaction in the U.S.

** Q1 adjusted profit per share of 23 cents beats estimates of 21 cents - LSEG

** Co says it continued to see more traffic and more frequency on the higher income consumer, while the lower income cohort remained under pressure in the quarter

** WEN maintains 2024 adj EPS forecast of $0.98 to $1.02

** Wendy's says strength in its digital platform — average monthly users went up to about 6 million — was also contributing to profitability due to larger orders

** As of last close, stock up 0.7% YTD

(Reporting by Juveria Tabassum in Bengaluru)

((Juveria.Tabassum@thomsonreuters.com;))

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