Shares of fast-food restaurant chain Wendy's took a tumble on Tuesday after the company turned down the heat on its 2019 financial outlook amid plans to invest about $20 million to retrofit and support its U.S. stores and franchisees to serve breakfast.
Shares of the Dublin, Ohio-based company were down more than 5% in premarket trading on Tuesday after the company said it was scaling back its adjusted per-share earnings outlook -- to an adjusted earnings per-share drop of between 3.5% to 6.5% for 2019 vs.
Previous guidance of per-share earnings growth of between 3.5% and 7%.
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