Wendy's Q2 profit drops 32% on commodity costs, charges

Wendy's International, Inc., the third largest U.S. hamburger chain, said Tuesday after the markets closed that second quarter earnings fell from last year, hurt by declining sales and rising commodity costs as well as restructuring charges and expenses on a special committee formed a year ago to study strategic alternatives. The company's quarterly earnings per share, excluding items, also came in below analysts' expectations.

The Dublin, Ohio-based company reported net income for the second quarter of $19.9 million or $0.22 per share, compared to $29.2 million or $0.33 per share for the year-ago quarter.

Income from continuing operations for the second quarter was $19.9 million or $0.22 per share, compared to $29.3 million or $0.33 per share in the prior year quarter.