Jack in the Box (JACK) Misses Q2 EPS by 5c, Miss on Revenues

Jack in the Box (NASDAQ: JACK) reported Q2 EPS of $0.80, $0.05 worse than the analyst estimate of $0.85. Revenue for the quarter came in at $209.77 million versus the consensus estimate of $211.35 million.

Third quarter fiscal year 2018 guidance

• Same-store sales of approximately flat to up 1.0 percent at Jack in the Box system restaurants versus a 0.2 percent decrease in the year-ago quarter.

Fiscal year 2018 guidance

• Same-store sales increase of approximately flat to up 1.0 percent at Jack in the Box system restaurants.
• Commodity cost inflation of approximately 3.0 percent.
• 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.
• SG&A as a percentage of revenues of approximately 12.0 to 12.5 percent, which includes incremental advertising spending on behalf of the system.
• G&A as a percentage of system-wide sales of approximately 2.3 to 2.5 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 non-cash impact of the Tax Act and the tax impact of excess tax benefits from share-based compensation arrangements which are now recorded as a component of income tax expense versus equity previously.
• 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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