Filing Flows › Wendy's (WEN) › Q2 2026 › vs Q1 2026
Wendy's (WEN) Q2 2026 vs Q1 2026 (quarter over quarter)
Wendy's's revenue rose $29.9M (+6%) from $541M in Q1 2026 to $571M in Q2 2026. The biggest changes: Advertising funds revenue +$19.1M (+18%); Sales +$14.5M (+6%); Franchise rental income −$5.5M (-9%). Operating margin 13.9% against 12.0% (+1.9 pts).
Wendy's, Q2 2026: revenue $571M (+2% year over year), operating margin 13.9%, net earnings $32.6M, operating cash flow $101M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 13.9% | 12.0% | +1.9 pts |
| Net margin | 5.7% | 4.2% | +1.5 pts |
| Free cash flow margin | 14.2% | 8.8% | +5.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Franchise royalty revenue | $124M | $116M | $7.4M | +6% |
| Franchise fees | $26.2M | $31.7M | −$5.5M | -17% |
| Franchise royalty revenue and fees | $150M | $148M | $1.9M | +1% |
| Sales | $240M | $225M | $14.5M | +6% |
| Advertising funds revenue | $127M | $108M | $19.1M | +18% |
| Franchise rental income | $53.4M | $58.9M | −$5.5M | -9% |
| Revenue | $571M | $541M | $29.9M | +6% |
| Operating profit | $79.3M | $64.9M | $14.4M | +22% |
| Costs & expenses | $491M | $476M | $15.6M | +3% |
| Pre-tax earnings | $48.6M | $34.2M | $14.4M | +42% |
| Other expense, net | $30.7M | $30.8M | −$39K | -0.1% |
| Cost of revenue | $207M | $201M | $6.2M | +3% |
| General & admin | $66.2M | $72.8M | −$6.7M | -9% |
| Other operating costs | $218M | $202M | $16.0M | +8% |
| Net earnings | $32.6M | $22.7M | $9.9M | +44% |
| Income tax | $16.0M | $11.5M | $4.5M | +39% |
| Depreciation & amortization | $38.1M | $40.6M | −$2.5M | -6% |
| Share-based compensation | $2.9M | $5.2M | −$2.3M | -44% |
| Working capital & other | $26.9M | −$9.1M | $36.1M | — |
| Operating cash flow | $101M | $59.4M | $41.2M | +69% |
| Free cash flow (OCF − capex) | $81.0M | $47.5M | $33.5M | +71% |
| Capital expenditures | $19.6M | $11.9M | $7.7M | +65% |
Questions
How much did Wendy's's revenue grow quarter over quarter in Q2 2026?
Wendy's's revenue rose $29.9M (+6%) from $541M in Q1 2026 to $571M in Q2 2026.
What drove Wendy's's revenue change in Q2 2026?
Advertising funds revenue +$19.1M (+18%); Sales +$14.5M (+6%); Franchise rental income −$5.5M (-9%).