Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The Wendy’s Company reported a challenging second quarter for fiscal 2026, highlighting a notable decline in global systemwide sales of 6.5%.</li><li>This deterioration was primarily driven by a 7% decrease in U.S. same-restaurant sales and a 2.3% drop internationally, with Canada experiencing particular softness.</li><li>These sales pressures translated into reduced adjusted EBITDA, which declined by $22.5 million to $124.1 million, and an adjusted earnings per share of $0.18.</li></ul>

The Wendy’s Company reported a challenging second quarter for fiscal 2026, highlighting a notable decline in global systemwide sales of 6.5%.This deterioration was primarily driven by a 7% decrease in U.S. same-restaurant sales and a 2.3% drop internationally, with Canada experiencing particular softness.These sales pressures translated into reduced adjusted EBITDA, which declined by $22.5 million to $124.1 million, and an adjusted earnings per share of $0.18.

Wendy’s Company’s $22.5 Million EBITDA Drop: Is This The Tipping Point?

<ul><li>Wendy’s has entered a new phase of uncertainty after reports that Nelson Peltz’s Trian Fund Management is preparing a take-private bid with potential backing from Flynn Group and BlueFive Capital.</li><li>The key detail is that no formal bid price has been disclosed yet, even though the stock moved sharply after the report.</li><li>Peltz personally owns roughly 16.24% of Wendy’s, while Trian holds another 7.85%, giving the group more than 24% combined ownership.</li></ul>

Wendy’s has entered a new phase of uncertainty after reports that Nelson Peltz’s Trian Fund Management is preparing a take-private bid with potential backing from Flynn Group and BlueFive Capital.The key detail is that no formal bid price has been disclosed yet, even though the stock moved sharply after the report.Peltz personally owns roughly 16.24% of Wendy’s, while Trian holds another 7.85%, giving the group more than 24% combined ownership.

Wendy’s Buyout Drama Is Just Starting — What Happens When Peltz Names His Price?

<ul><li>Wendy’s has suddenly become one of the most talked-about names in fast food after reports that Nelson Peltz’s Trian Fund Management is seeking investor backing for a possible take-private bid.</li><li>The reaction was immediate: the stock surged as investors began to price in the possibility that one of America’s most recognizable burger chains could be removed from the public market.</li><li>The appeal is easy to understand.</li></ul>

Wendy’s has suddenly become one of the most talked-about names in fast food after reports that Nelson Peltz’s Trian Fund Management is seeking investor backing for a possible take-private bid.The reaction was immediate: the stock surged as investors began to price in the possibility that one of America’s most recognizable burger chains could be removed from the public market.The appeal is easy to understand.

Wendy’s Has Nelson Peltz Circling Again, But Can He Fix The Traffic Problem?

<ul><li>The Wendy's Company reported its fiscal year 2025 fourth-quarter earnings, reflecting a challenging year with a focus on foundational rebuilding under its "Project Fresh" initiative.</li><li>Key takeaways from the results and strategic outlook include both positive developments and areas of concern.</li><li>On the positive side, Wendy's international business showed robust growth, with system-wide sales increasing by 6.2% in the fourth quarter and a record expansion in new restaurant openings across various international markets.</li></ul>

The Wendy's Company reported its fiscal year 2025 fourth-quarter earnings, reflecting a challenging year with a focus on foundational rebuilding under its "Project Fresh" initiative.Key takeaways from the results and strategic outlook include both positive developments and areas of concern.On the positive side, Wendy's international business showed robust growth, with system-wide sales increasing by 6.2% in the fourth quarter and a record expansion in new restaurant openings across various international markets.

Wendy's Flat 2026 Sales Signal A MAJOR Constraint

<ul><li>The Wendy's Company recently delivered its fiscal 2025 third-quarter earnings results, which reflected a blend of challenges and strategic initiatives aimed at revitalizing the brand and driving long-term growth.</li><li>The global system-wide sales declined by 2.6%, predominantly due to a 4.7% drop in U.S. same-restaurant sales amidst heightened industry competition and economic pressures on consumers, particularly those with lower incomes.</li><li>Despite these challenges, Wendy’s international business posted a strong performance, showcasing 8.6% growth in system-wide sales and delivering positive same-restaurant sales across all regions.</li></ul>

The Wendy's Company recently delivered its fiscal 2025 third-quarter earnings results, which reflected a blend of challenges and strategic initiatives aimed at revitalizing the brand and driving long-term growth.The global system-wide sales declined by 2.6%, predominantly due to a 4.7% drop in U.S. same-restaurant sales amidst heightened industry competition and economic pressures on consumers, particularly those with lower incomes.Despite these challenges, Wendy’s international business posted a strong performance, showcasing 8.6% growth in system-wide sales and delivering positive same-restaurant sales across all regions.

Wendy’s: What’s Really Behind the 400-Basis-Point Same-Restaurant Sales Outperformance at Company Stores?

United States

The Wendy's Company operates fast-food restaurants. The Company owns, operates, and franchises fast-food restaurants located throughout countries that include the United States, Singapore, the Middle East and North Africa, the Russian Federation, the Eastern Caribbean, Argentina, the Philippines and Japan.

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Wendy's Co/The (WEN US)

Wendy’s Company’s $22.5 Million EBITDA Drop: Is This The Tipping Point?

The Wendy’s Company reported a challenging second quarter for fiscal 2026, highlighting a notable decline in global systemwide sales of 6.5%. This...

Baptista Research

Wendy’s Buyout Drama Is Just Starting — What Happens When Peltz Names His Price?

Wendy’s has entered a new phase of uncertainty after reports that Nelson Peltz’s Trian Fund Management is preparing a take-private bid with...

Baptista Research

Wendy’s Has Nelson Peltz Circling Again, But Can He Fix The Traffic Problem?

Wendy’s has suddenly become one of the most talked-about names in fast food after reports that Nelson Peltz’s Trian Fund Management is seeking...

Baptista Research

Wendy's Flat 2026 Sales Signal A MAJOR Constraint

The Wendy's Company reported its fiscal year 2025 fourth-quarter earnings, reflecting a challenging year with a focus on foundational rebuilding...

Baptista Research

Wendy’s: What’s Really Behind the 400-Basis-Point Same-Restaurant Sales Outperformance at Company Stores?

The Wendy's Company recently delivered its fiscal 2025 third-quarter earnings results, which reflected a blend of challenges and strategic...

Baptista Research

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