Jack in the Box (NASDAQ: JACK) reported mixed results for its second quarter of 2020. While non-GAAP EPS of $0.50 didn’t meet Wall Street’s projected EPS of $0.65, the revenue of $216 million surpassed the market’s target of $210.76 million. JACK stock dropped about 7% in the after-market session.
While system and franchise same-store sales declined 4.2% each, company same-store sales decreased 4.1% in the second quarter.
As announced on April 30, the company withdrew its 2020 guidance and temporarily halted its share buyback program due to the unprecedented adverse impact of the COVID-19 pandemic. Jack in the Box also suspended its quarterly dividend.
The company will continue to monitor and revisit its capital allocation policies throughout the third quarter with the goal of reinstating dividends and share repurchases once it has more clarity around the scope and duration of the disruption caused by COVID-19.
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was