12:35 PM EDT, 05/06/2026 (MT Newswires) -- Wendy's (WEN) estimates are lowered ahead of its Q1 results to reflect a challenging setup, Oppenheimer analysts said in a Tuesday report. The Q1 results are due May 8.

The analysts lowered their 2026 and 2027 estimates for same-store sales and EBITDA below consensus estimates.

"We believe our model better reflects the challenging near-term setup and ongoing underperformance vs. peers,"they said.

For Q1, US same-store sales are expected to drop 7.5%, against the Street's 7.2% decline, the report said. EBITDA is forecast at $101.7 million, below Street's $102.5 million estimate.

Still, sales trends could improve in the second half of 2026 as Wendy's closes underperforming restaurants, rolls out marketing initiatives and benefits from easier comparisons.

Oppenheimer maintained its perform rating on the stock.

Price: 6.60, Change: -0.02, Percent Change: -0.23