Jack in the Box (JACK) Misses Q1 EPS, Revs Beat; Reaffirms

Jack in the Box (NASDAQ: JACK) reported Q1 EPS of $1.17, versus the analyst estimate of $1.38. Revenue for the quarter came in at $307.67 million versus the consensus estimate of $296.63 million.

Jack in the Box® system same-store sales increased 1.7 percent for the quarter. Company same-store sales increased 2.9 percent in the first quarter driven by average check growth of 2.6 percent and transaction growth of 0.3 percent.

Lenny Comma, chairman and chief executive officer, said, "Our same-store sales growth in the first quarter resulted from guests continuing to respond favorably to our breadth of promotions, including compelling bundles at competitive price points and innovation on products guests crave. Looking to the remainder of 2020, we reiterate our annual targets as we leverage this strategy and continue making progress on our strategic initiatives and long-term goals. We remain committed to improving the guest experience through operations consistency and reducing wait times, targeting investments designed to maximize our returns, and serving indulgent food our guests crave."

GUIDANCE:

Reaffirms Fiscal 2020 Guidance

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

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