Jack in the Box (JACK) Tops Q4 EPS by 5c

Jack in the Box (NASDAQ: JACK) reported Q4 EPS of $1.80, $0.05 better than the analyst estimate of $1.75. Revenue for the quarter came in at $278.45 million versus the consensus estimate of $289.07 million.

2022 Guidance & Outlook:

The following guidance and underlying assumptions reflect the company’s current expectations for the current fiscal year ending October 2, 2022:

• 2022 CapEx & Other Investments Guidance of $65-75 million
• Previously stated at Q3 2021 earnings on August 4, 2021
• Includes:
• Capital expenditures (located within cash flows from investing activities)
• Franchise tenant improvement allowances and incentives (located within cash flows from operating activities)
• 2022 SG&A Guidance of $92-97 million
• Excludes net COLI gains/losses, and now includes selling/advertising expense
• 2022 Commodity Guidance up 6-7% compared to 2021
• 2022 Company-owned Wage Rate Guidance up 8-10% compared to 2021
• No change to 3-5 Year Outlook as provided at Investor Day on June 29, 2021
• Same store sales up 2 to 3%
• Unit growth up 1 to 3%
• Systemwide sales up 3 to 5%
• 2022 Restaurant Level Margin Outlook
• Due to an anticipated unique cost environment, we are providing one-time Company-owned restaurant level margin annual guidance for 2022
• Restaurant Level Margin is expected to be 20-21%, which includes mid-to-high single digit price increases
• Company-owned Restaurant Funding Outlook
• 2022: Planning to fund up to 5 company-owned restaurants
• 2023: Planning to fund between 7 and 15 company-owned restaurants

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

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