The Wendy's Company Earnings Recaps
Q3 2025
Nov 8, 2025
Wendy's third quarter results were broadly in line with expectations, driven by strong international sales growth and progress on the U.S. turnaround initiative, Project Fresh.
Key takeaways
- International net unit growth projected to exceed 9% in 2025, fueled by strong same-restaurant sales and new openings.
- U.S. company-operated restaurants significantly outperformed the system, achieving a 400 basis points lead in same-restaurant sales in Q3.
- Project Fresh focuses on brand revitalization and operational excellence to increase guest frequency and drive average unit volumes (AUVs).
- Investments in customer training and technology are enhancing the customer experience and improving metrics such as satisfaction scores and order accuracy.
- Positive feedback from franchisees on Project Fresh reflects confidence in the brand's direction and strategy.