Wendy's/Arby's Group loses money in 3Q

[November 12, 2010]  ATLANTA, Ga. (AP) -- The operator of Wendy's and Arby's restaurants lost money in its third quarter, pressured by higher commodity costs and weak performances at both restaurant chains.

Wendy's/Arby's Group Inc. also lowered its 2010 adjusted EBITDA outlook on Friday, but boosted its quarterly cash dividend by 33 percent.

The Atlanta company lost $909,000, or breakeven on a per-share basis, for the period ended Oct. 3. That compares with earnings of $14.7 million, or 3 cents per share, a year ago.

Revenue fell 5 percent to $861.2 million from $903.2 million.

A key revenue metric dropped 1.7 percent for Wendy's, while Arby's reported a 5.9 percent decline in the figure.

Analysts expected earnings of 4 cents per share on revenue of $882.6 million.

[Associated Press]

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