UPDATE: Jack in the Box (JACK) Misses Q4 EPS by 3c, Offers Guidance

Jack in the Box (NASDAQ: JACK) reported Q4 EPS of $0.62, $0.03 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $354.1 million versus the consensus estimate of $356.83 million. System wide comps increased 6.2% at Jack and 6.6% at Qdoba.

Jack in the Box sees FY2016 EPS of $3.55-$3.70, may not compare to the consensus of $3.55.

First quarter fiscal year 2016 guidance

• Same-store sales increase of approximately 1.0 to 3.0 percent at Jack in the Box company restaurants versus a 3.9 percent increase in the year-ago quarter.
• Same-store sales of flat to up 2.0 percent at Qdoba company restaurants versus a 12.9 percent increase in the year-ago quarter.

Fiscal year 2016 guidance

• Same-store sales increase of approximately 2.0 to 4.0 percent at Jack in the Box company restaurants.
• Same-store sales increase of approximately 2.0 to 4.0 percent at Qdoba company restaurants.
• Commodity inflation of approximately 1 percent for Jack in the Box and deflation of approximately 3 percent at Qdoba.
• Restaurant operating margin of approximately 20.0 to 20.5 percent.
• SG&A as a percentage of revenue of approximately 13.0 to 13.5 percent as compared to 14.4 percent in fiscal 2015. The decrease includes a $5.3 million reduction in pension and postretirement expense in fiscal 2016.
• Impairment and other charges as a percentage of revenue of approximately 80 basis points.
• Approximately 20 new Jack in the Box restaurants opening system-wide, the majority of which will be franchise locations.
• Approximately 50 to 60 new Qdoba restaurants, of which approximately half are expected to be company locations.
• Capital expenditures of $100 to $120 million.
• Tax rate of approximately 38 percent.
• Operating earnings per share, which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, ranging from $3.55 to $3.70 in fiscal 2016 as compared to operating earnings per share of $3.00 in fiscal 2015.
• The estimated benefit of the 53rd week in fiscal 2016 is approximately $0.08 per diluted share.

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

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