Filing Flows › Wendy's (WEN) › Q1 2025
Wendy's (WEN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
Wendy's (WEN) reported revenue of $523M for the first quarter 2025 (Q1 2025), -2% from a year earlier and -9% from the quarter before. Operating margin was 15.9%, net earnings $39.2M (7.5% of revenue).
Wendy's, Q1 2025: revenue $523M (-2% year over year), operating margin 15.9%, net earnings $39.2M, operating cash flow $85.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $523M | -9% | -2% |
| Operating profit | $83.1M | -13% | +2% |
| Net earnings | $39.2M | -17% | -7% |
| Operating cash flow | $85.4M | +24% | -15% |
| Free cash flow | $68.0M | — | — |
What changed
Revenue was $523.5M in Q1 2025, down 2% year over year and down 9% from the previous quarter. Sales was the largest line at 42% of revenue. Sales lost $5.8M year over year (down 3%), 52% of the total change.
Operating profit was $83.1M, a 15.9% margin (up 0.7 points year over year). Total costs fell 3% while revenue fell 2%. Net earnings were $39.2M, down 7% year over year. The effective tax rate was 28.6%.
Operating cash flow was $85.4M (down 15% year over year), 218% of net earnings. Non-cash charges added back $36.5M of depreciation and amortization and $5.6M of share-based compensation. After capital expenditures, net ($11.6M) and franchise development fund ($5.8M), free cash flow as the company reports it was $68.0M.
Questions
What was Wendy's revenue in the first quarter 2025?
Wendy's (WEN) reported revenue of $523M for the first quarter 2025 (Q1 2025), -2% from a year earlier and -9% from the quarter before.
Was Wendy's profitable in the first quarter 2025?
Operating profit was $83.1M (15.9% of revenue) and net earnings $39.2M.
Source: Wendy's 10-Q on SEC EDGAR.