The Wendy's Company (NASDAQ:WEN) Q3 2022 Results Conference Call November 9, 2022 8:30 AM ET

Company Participants

Kelsey Freed - Director, IR

Todd Penegor - President and CEO

Gunther Plosch - CFO

Conference Call Participants

Dennis Geiger - UBS

David Palmer - Evercore ISI

John Glass - Morgan Stanley

Jon Tower - Citi

Chris O'Cull - Stifel

Lauren Silberman - Credit Suisse

Brian Bittner - Oppenheimer

Jeffrey Bernstein - Barclays

Gregory Francfort - Guggenheim Securities

John Ivankoe - JPMorgan

Brian Mullan - Deutsche Bank

Jared Garber - Goldman Sachs

Nicole Miller - Piper Sandler

Danilo Gargiulo - Bernstein

Eric Gonzalez - KeyBanc Capital Markets

Nick Setyan - Wedbush Securities

Jeff Farmer - Gordon Haskett

Jim Sanderson - Northcoast Research

Sara Senatore - Bank of America

Operator

Good morning. Welcome to The Wendy's Company Earnings Results Conference Call. [Operator Instructions] Thank you. Kelsey Freed, Director of Investor Relations, you may begin your conference.

Kelsey Freed

Thank you, and good morning, everyone. Today's conference call and webcast includes a PowerPoint presentation, which is available on our Investor Relations website, irwendys.com.

Before we begin, please take note of the safe harbor statement that appears at the end of our earnings release. This disclosure reminds investors that certain information we may discuss today is forward-looking. Various factors could affect our results and cause those results to differ materially from the projections set forth in our forward-looking statements.

Also, some of today's comments will reference non-GAAP financial measures. Investors should refer to our reconciliations of non-GAAP financial measures to the most directly comparable GAAP measure at the end of this presentation or in our earnings release.

On our conference call today, our President and Chief Executive Officer, Todd Penegor, will give a business update; and our Chief Financial Officer, Gunther Plosch, will review our 2022 third quarter results and provide an update on our outlook for the year. From there, we will open up the line for questions. With that, I will hand things over to Todd.

Todd Penegor

Thanks, Kelsey, and good morning, everyone. I am proud of the Wendy's system for delivering a significant same-restaurant sales acceleration on a one-year basis. Our consistent sales growth underscores our brand's ability to resonate with our customers and resulted in our fourth consecutive quarter of double-digit global same-restaurant sales on a two-year basis. These results highlight how our high-quality food compelling value and convenience continue to deliver against our fans’ expectations, making the Wendy's brand more relevant than ever.