Jack in the Box (JACK) reported mixed fourth quarter results. Earnings of $0.77 per share missed analysts’ estimates, while revenues of $177.5 million surpassed the analysts’ views. Company same-store sales increased 0.8% compared to the fourth quarter of 2017. The stock was up about 3% during the extended hours.
As expected, revenue for the final quarter of 2018 dropped annually. The company same-store sales increase of 0.8% was driven by average check growth of 2.8%. Jack in the Box completed its refranchising initiative during the quarter with the sale of 8 restaurants in Q4, and now the franchise mix stands at 94%.
For fiscal 2019, the restaurant operator expects system same-store sales of approximately flat to up 2%. Following the completion of longer-term financing plans, JACK expects to return more than $1 billion through FY 2022 to its shareholders in the form of share repurchases and dividends.
Growing no of refranchised restaurants likely to reduce Jack in the Box’s topline in Q4
Shares of JACK, which were trading in the positive territory during the morning session, pared gains and turned into negative territory during the afternoon session. The stock ended the day at $79.64, down 1.24%.
Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
SBUX Earnings: Key quarterly highlights from Starbucks’ Q4 2024 financial results
Starbucks Corporation (NASDAQ: SBUX) reported its fourth quarter 2024 earnings results today. Consolidated net revenues declined 3%, including on a constant currency basis, to $9.1 billion compared to the same
Key highlights from Biogen’s (BIIB) Q3 2024 earnings results
Biogen Inc. (NASDAQ: BIIB) reported its third quarter 2024 earnings results today. Total revenue decreased 3% year-over-year to $2.46 billion. Revenues were down 3% on a constant currency basis as
Infographic: Caterpillar (CAT) reports lower Q3 revenue and adj. profit
Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Wednesday reported a decrease in revenue and adjusted earnings for the third quarter of 2024. Sales and