Jack in the Box(JACK) - 2026 Q1 - Quarterly Results

Financial Performance - Jack in the Box reported a 6.7% decrease in same-store sales for Q1 2026, with franchise same-store sales down 7.0% and company-owned same-store sales down 4.7%[4]. - Total revenues decreased by 5.8% to $349.5 million, compared to $371.1 million in the prior year quarter[8]. - Net earnings from continuing operations were $14.4 million, down from $31.0 million in the prior year quarter[11]. - Diluted earnings per share from continuing operations were $0.75, compared to $1.61 in the prior year quarter[13]. - Adjusted EBITDA for Q1 2026 was $68.2 million, down from $88.8 million in the prior year quarter[12]. - Restaurant-Level Margin was $21.3 million, or 16.1%, down from $31.0 million, or 23.2%, a year ago[5]. - Franchise-Level Margin was $84.1 million, or 38.6%, a decrease from $97.1 million, or 40.9%, a year ago[5]. - Earnings from continuing operations for the 16 weeks ended January 18, 2026, were $14,389,000, down from $30,996,000 in the prior year, indicating a decrease of approximately 53.7%[29]. - The company reported a net loss of $2,458,000 for the 16 weeks ended January 18, 2026, contrasting with net earnings of $33,686,000 in the same period in 2025[29]. - Non-GAAP Adjusted Net Income for the same period was $19,241,000, down from $35,727,000 year-over-year, reflecting a decrease of 46.1%[41]. - Diluted earnings per share from continuing operations (GAAP) were $0.75, compared to $1.61 in the prior year, a decline of 53.4%[41]. - Adjusted EBITDA for the 16 weeks ended January 18, 2026, was $68,177,000, down from $88,837,000 in the same period of 2025, a decrease of 23.3%[50]. - The company reported a net loss of $80.719 million for the fiscal year, with a significant loss of $142.228 million in April due to discontinued operations[55]. Revenue and Sales - Company restaurant sales for the 16 weeks ended January 18, 2026, were $131,907,000, a decrease from $133,755,000 in the same period in 2025[34]. - Systemwide sales decreased to $1,268,549,000 in January 2026 from $1,366,102,000 in January 2025, representing a decline of about 7.1%[34]. - Company restaurant sales for the fiscal year totaled $416.715 million, with quarterly sales of $133.755 million in January, $95.095 million in April, $94.112 million in July, and $93.753 million in September[55]. - Franchise rental revenues reached $332.735 million for the fiscal year, with quarterly revenues of $105.781 million in January, $77.935 million in April, $76.538 million in July, and $72.481 million in September[55]. - Total revenues for the fiscal year amounted to $1.154 billion, with quarterly revenues of $371.064 million in January, $265.731 million in April, $262.401 million in July, and $254.770 million in September[55]. - Total franchise revenues for the period were $217,610,000, compared to $237,309,000 in the prior year, a decline of 8.3%[52]. Costs and Expenses - Cash flows provided by operating activities were $30,546,000 for the 16 weeks ended January 18, 2026, compared to $101,583,000 in the same period in 2025, a decline of about 70%[29]. - Food and packaging costs as a percentage of company restaurant sales rose to 29.7% in January 2026 from 25.9% in January 2025[31]. - The company incurred total operating costs and expenses of $954.776 million for the fiscal year, with quarterly costs of $300.584 million in January, $217.448 million in April, $214.036 million in July, and $222.708 million in September[55]. - Interest expense for the fiscal year totaled $79.094 million, with quarterly expenses of $24.380 million in January, $18.351 million in April, $18.135 million in July, and $18.228 million in September[58]. Assets and Liabilities - Total current assets increased to $232,218,000 in January 2026 from $220,372,000 in September 2025, reflecting a growth of approximately 3.8%[27]. - Long-term debt, net of current maturities, decreased to $1,564,253,000 in January 2026 from $1,674,235,000 in September 2025, a reduction of approximately 6.6%[27]. - Total stockholders' deficit improved slightly to $(936,038,000) in January 2026 from $(938,271,000) in September 2025[27]. Operational Changes - The company closed 14 restaurants and opened 6 in the first quarter, resulting in a net decrease of 8 restaurants[6]. - The company expects a restaurant count of 2,050 to 2,100 by the end of the fiscal year[19]. - The company has discontinued its dividend and share repurchase program[21].