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The company's shares fell 6.4 percent to $13.80 before the bell
on Wednesday.
Wendy's has the highest concentration of stores in Florida and
Texas, which were slammed by hurricanes Irma and Harvey during
the quarter, hurting same-store sales in North America by 30 to
40 basis points.
The Dublin, Ohio-based company trimmed its profit forecast to a
range of 43 cents to 45 cents per share for the full year from
its previous forecast of 45 cents to 47 cents.
Wendy's also trimmed the higher end of its North American
comparable-store sales for the year to 2 percent to 2.5 percent
from its previous range of 2 percent to 3 percent.
For the quarter ended Oct. 1, same-restaurant sales in North
America rose 2 percent. Analysts on average were expecting a 2.4
percent rise, according to research firm Consensus Metrix.
Excluding some items, the company earned 9 cents per share,
missing analysts' average estimate of 12 cents per share,
according to Thomson Reuters I/B/E/S.
Net income fell to $14.3 million, or 6 cents per share, from
$48.9 million, or 18 cents per share, in the quarter ended Oct.
1, in part due to higher commodity costs and tax rate.
Revenue fell 15.4 percent to $308 million, mainly from the
company selling 249 restaurants to franchisees.
(Reporting by Uday Sampath Kumar and Karina Dsouza in Bengaluru;
Editing by Bernard Orr and Saumyadeb Chakrabarty)
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