Jack In The Box's Q1 Bottom-Line Tops Street View

Jack In The Box Inc JACK reported first-quarter FY22 sales growth of 1.8% year-on-year, to $344.71 million, missing the consensus of $346.43 million.
Systemwide sales grew 0.6% Y/Y, and System same-store sales increased 1.2%. Company-operated same-store sales declined 0.3%, while Franchise same-store sales rose 1.4%.
Restaurant-level margin was 18.3% versus 25.5% last year, driven by increases in food and packaging costs, wage inflation of 10.9%, and increases in utilities and maintenance and repair costs.
Selling, general and administrative expenses rose 23.6% Y/Y to $25.3 million.
The operating margin was 21.4%, and operating income for the quarter declined 17% to $73.7 million.
Operating EPS of $1.97 topped the consensus of $1.91. Adjusted EBITDA fell 10.8% Y/Y to $91.2 million.
The company held $88.5 million in cash and equivalents as of January 23, 2022. Cash flow provided by operating activities for the quarter totaled $34.1 million.
On February 18, 2022, the company's board declared a cash dividend of $0.44 per share, to be paid on March 22, 2022, to shareholders of record on March 9, 2022.
Price Action: JACK shares are trading lower by 0.34% at $88.43 on the last check Wednesday.

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