Jack in the Box (JACK) announced its first-quarter results for the 2018 fiscal year, posting adjusted revenues of $294.46 million and earnings of $1.23.
As at the time of writing this article, JACK was up marginally to $88 per share during after-hours trading after it released its earnings report.
JACK Earnings & Outlook
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The firm beat Wall Street estimates of $1.06 per share by posting adjusted earnings of $1.23 per share. $JACK posted $294.46 million revenue figures, topping analysts’ estimates of $285.95 million. Jack in the Box saw its revenue fall by more than $50 million from the same period in 2017.
After helping add $1.5 million in last year’s first quarter, the company in its Wednesdays reported said Qdoba had generated a quarterly net loss this time around. However, the company expects to close first quarter financial year 2018 sale of Qdoba by April.
Jack in the Box CEO Comments:
The company expects same-store sales at system restaurants for the full year will increase between 1% and 2%. “We are working together with our advisors to adjust our capital structure to exhibit a business model that is less capital intensive, and we are committed to returning money to our shareholders,” said Lenny Comma, Jack in the Box CEO.
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