---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-271014"
form_type: "8-K"
ticker: "WEN"
cik: "0000030697"
company_name: "Wendy's Co"
filed_at: "2025-11-07T23:59:59+00:00"
generated_at: "2026-05-16T23:13:11.690515+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Wendy's Q3 revenue $549.5M, net income $44.3M; U.S. same-store sales down 4.7%

## Summary
- Adjusted revenue $442.5M (-0.2% YoY); adjusted EPS $0.24 (-4.0% YoY); reported EPS $0.23.
- U.S. same-restaurant sales fell 4.7%; international same-restaurant sales grew 3.0%.
- Adjusted EBITDA up 2.1% to $138.0M; free cash flow outlook raised by ~$35M at midpoint.
- Opened 54 new restaurants in Q3; total additions 172 YTD; international systemwide sales +8.6%.
- Interim CEO Ken Cook announced 'Project Fresh' turnaround plan for U.S. operations.

## SEC filing metadata
- accession: 0001193125-25-271014
- form_type: 8-K
- ticker: WEN
- cik: 0000030697
- company_name: Wendy's Co
- filed_at: 2025-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01, 5.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/30697/000119312525271014/0001193125-25-271014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/30697/000119312525271014/d94107d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-271014
- JSON: https://secwatch.observer/filing/0001193125-25-271014.json
- Plain text: https://secwatch.observer/filing/0001193125-25-271014.txt

## Key facts
- Governance Changes
  Wendy's Co: Amended By-Laws to update procedures for stockholder action by written consent, eliminate stockholder list examination requirement, make Senior Vice Chair and Vice Chair roles optional, and make technical changes (effective 2025-11-05).
  - Change: bylaw amendment
  - Effective: 2025-11-05
  source text: On November 5, 2025, the Board of Directors (the “Board”) of the Company, upon the recommendation of the Board’s Nominating and Governance Committee, approved and adopted amendments to the Company’s By-Laws
  evidence_url: https://www.sec.gov/Archives/edgar/data/30697/000119312525271014/0001193125-25-271014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.