Wendy’s withdrew its 2026 outlook and cut its quarterly dividend to 7 cents a share from 14 cents as Chief Executive Officer Bob Wright presses a turnaround after another weak quarter in its U.S. business. Revenue rose 1.7% year over year to $570.6 million, topping estimates, while adjusted earnings of 18 cents a share also beat forecasts but fell from 29 cents a year earlier. Net income dropped 40.8% to $32.6 million, adjusted EBITDA fell 15.4% to $124.1 million and U.S. same-restaurant sales declined 7% as lower traffic, commodity inflation and higher labor costs weighed on results. Global systemwide sales fell 6.5% to $3.42 billion, with an 8.2% drop in the U.S. offset partly by 3.4% international growth. Wendy’s opened 21 U.S. and 27 international restaurants in the quarter, ending with 7,180 locations globally. First-half operating cash flow rose 9.6% to $160 million and free cash flow increased 9.9% to $120.3 million, but management said second-half sales trends are likely to mirror the second quarter, with continued traffic pressure and margin headwinds from sales deleverage and 5% to 6% commodity inflation.