Jack in the Box (JACK) Tops Q1 EPS by 17c, Comps Decline 0.2%

Jack in the Box (NASDAQ: JACK) reported Q1 EPS of $1.23, $0.17 better than the analyst estimate of $1.06. Revenue for the quarter came in at $294.46 million versus the consensus estimate of $283.53 million.

Jack in the Box system same-store sales decreased 0.2 percent for the quarter and lagged the QSR sandwich segment by 2.0 percentage points for the comparable period, according to The NPD Group’s SalesTrack® Weekly for the 16-week time period ended January 21, 2018.

Fiscal year 2018 guidance

• Same-store sales increase of approximately 1.0 to 2.0 percent at Jack in the Box system restaurants.
• Commodity cost inflation of approximately 3.0 percent for Jack in the Box.
• Restaurant Operating Margin of 22.0 to 23.0 percent and Restaurant-Level EBITDA of approximately 26.0 to 27.0 percent, depending on the timing of refranchising transactions and the margins associated with the restaurants sold.
• G&A as a percentage of system-wide sales of approximately 2.5 to 2.7 percent.
• Approximately 25 new Jack in the Box restaurants opening system-wide, the majority of which will be franchise locations.
• Capital expenditures of approximately $30 to $35 million.
• Tenant improvement allowances of approximately $25 million.
• Tax rate of approximately 29.0 percent, excluding the one-time, non-cash impact of the Tax Act and the impact of ASU 2016-09.
• Adjusted EBITDA of approximately $260 to $270 million.

For earnings history and earnings-related data on Jack in the Box (JACK) click here.

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