Jack In The Box (JACK) reported $369.17 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 7%. EPS of $1.65 for the same period compares to $1.45 a year ago.The reported revenue represents a surprise of -0.17% over the Zacks Consensus Estimate of $369.78 million. With the consensus EPS estimate being $1.50, the EPS surprise was +10.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

Financial Data and Key Metrics Changes - The third quarter system same store sales for Jack in the Box declined by 2.2%, with franchise restaurant comps decreasing by 2.4% and company-owned sales up by 0.1% [25][26] - Del Taco's system same store sales declined by 3.9%, with franchise sales down by 4.1% and company-owned comps decreasing by 3.5% [30] - Consolidated adjusted EBITDA was $78.9 million, down from $81.6 million in the prior year, primarily due to Del Taco re-franchising and decreased sales [33][34] - The company recorded a non-cash goodwill impairment of $162.6 million for the Del Taco reporting unit, resulting in a consolidated gap diluted loss per share of $6.26 compared to earnings per share of $1.41 in the prior year [34] Business Line Data and Key Metrics Changes - Jack in the Box's restaurant level margin percentage decreased year-over-year by 80 basis points to 21%, driven by higher labor costs [28] - Del Taco's restaurant level margin was 13.4%, down 400 basis points from the prior year, mainly due to increased labor and utility costs [30] - Notable sales contributions for Jack in the Box came from chicken and burgers, with Smash Jack driving burger sales [27] Market Data and Key Metrics Changes - Jack in the Box opened three restaurants and closed three during the quarter, expecting to open between 25 and 35 restaurants for the fiscal year [28] - Del Taco had five openings and three closures, with expectations to hit the higher end of the guidance of opening 10 to 15 restaurants this fiscal year [32] - New market performance for Jack in the Box showed strong results, with Salt Lake City locations averaging over $100,000 in weekly AUVs [17][76] Company Strategy and Development Direction - The company is focusing on reconnecting with lower-income, value-oriented guests through initiatives like the Munchies Under $4 platform and Jack's Big Deal Meal [9][11] - There is a commitment to digital growth, aiming to increase sales from 14% to 20%, with first-party sales up 80% year-over-year [14] - The company plans to enter the Chicago market aggressively in 2025, with a strategy to open up to 10 company locations [42] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging consumer environment but expressed confidence in their strategies to drive transactions and sales growth [9][24] - There are early signs of improved sales performance at Del Taco, with a new leadership team making progress on marketing and operational changes [20][21] - Management remains optimistic about the long-term growth potential of both brands despite short-term challenges [24][68] Other Important Information - The company plans to continue its refranchising efforts, with 27 Del Taco restaurants recently re-franchised and a development agreement for 25 additional locations [66] - The re-image program for Jack in the Box has received strong interest from franchisees, with over 600 requests submitted for remodeling [19][72] - The company declared a cash dividend of $0.44 per share to be paid on September 19 [36] Q&A Session Summary Question: How is the company positioning the brand to succeed in the Chicago market? - The company plans to aggressively enter the Chicago market by converting existing locations and surrounding them with additional franchisees to ensure quick market penetration [42] Question: Can you explain the improving momentum heading into the fourth quarter? - Management noted that the Munchies Under $4 initiative increased ticket sizes, and they expect easier comps in the fourth quarter to support improved performance [44][46] Question: Did a competitor's $5 Meal Deal impact trends? - Management indicated that while competitive pressure is felt, there was no significant impact from any single competitor, but rather a general challenge in breaking through the noise of value offerings [50] Question: What is the sentiment among franchisees regarding development timelines? - Franchisee interest remains strong, with many sites in permitting and construction, and no significant decline in development interest noted [87] Question: How is the company addressing the value proposition amidst rising prices? - Management is continuously assessing market data to ensure pricing remains competitive while focusing on driving transactions through value offerings [82][84]

Jack In The Box (JACK) came out with quarterly earnings of $1.65 per share, beating the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $1.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10%. A quarter ago, it was expected that this burger chain would post earnings of $1.43 per share when it actually produced earnings of $1.46, delivering a surprise of 2.10%.Over the last four quarters, the company ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 7, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ________to________. Commission File Number: 1-9390 ____________________________________________________ JACK IN THE BOX INC. (Exact name of registrant as specified in its ...

Exhibit 99.1 Contact: Chris Brandon Vice President, Investor Relations chris.brandon@jackinthebox.com 619.902.0269 Jack in the Box Inc. Reports Third Quarter 2024 Earnings Jack in the Box same-store sales of (2.2%) Del Taco same-store sales of (3.9%) Jack in the Box systemwide sales of (1.3%); Del Taco systemwide sales of (3.2%) Diluted loss per share of ($6.26), including a $162.6 million non-cash goodwill impairment charge for Del Taco Operating EPS of $1.65 Jack in the Box signed 3 development agreements ...

Jack In The Box (JACK) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 6. ...

LAKE FOREST, Calif., July 11, 2024 (GLOBE NEWSWIRE) -- In an era where customers are struggling to find high-quality fast-food options at affordable prices, Del Taco, the nation’s second-largest Mexican quick service restaurant**, is aiming to deliver on its promise of providing guests with the best quality and value with their NEW Del’s Real Deal$™ Menu. With a variety of 15 items all available at $2 and under, the new value menu features tacos, burritos, nachos, snacks, and snack-sized chips & fresh hous ...

Core Insights - Del Taco introduces the NEW Del's Real Deal$™ Menu featuring 15 items priced at $2 and under, aimed at providing high-quality fast food at affordable prices [1][2][3] - The menu includes a variety of items such as tacos, burritos, nachos, and snacks, emphasizing the use of real ingredients made from scratch [1][2][3] - The addition of snack-sized chips and fresh house-made guacamole enhances the value menu, reinforcing Del Taco's commitment to quality and affordability [2][3] Company Overview - Del Taco is the second-largest Mexican quick service restaurant in the United States, serving over three million guests weekly across nearly 600 locations in 17 states [6] - The company prides itself on using real, quality ingredients in its menu items, which are prepared fresh in each restaurant's kitchen [5][6] - Founded in 1964, Del Taco combines Mexican and American favorites, offering a unique dining experience with the convenience of a drive-thru [5][6]

CHIPOTLE VETERAN ADAM RYMER NAMED SUCCESSORNEWPORT BEACH, Calif., July 9, 2024 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced that after nearly 25 years with the company, Jack Hartung has decided to retire, effective March 31, 2025. Hartung has served as Chief Financial Officer since 2002.Chipotle CFO Jack Hartung announces retirement, effective March 31, 2025, after nearly 25 years with the company.Adam Rymer, a 15-year Chipotle veteran will assume the role of Chief Financial Officer, b ...

Jack in the Box Inc. (JACK) , known for its diverse portfolio in the fast-food industry, is pushing forward with its aggressive expansion strategy, particularly through its Del Taco brand. The company announced the opening of a new Del Taco location at 3209 E Colonial Drive in Orlando, FL. This company-owned location is the sixth Del Taco in Orlando and one of six new Del Taco restaurants slated to open in Florida this year.The new Orlando outlet features Del Taco’s modern Fresh Flex design, aimed at enhanc ...