Jack In The Box Q2 Earnings Miss Estimates

Jack In The Box Inc JACK reported second-quarter FY22 sales growth of 25.3% year-on-year to $322.29 million, missing the consensus of $340.81 million.
Jack In The Box Systemwide sales grew 0.1% Y/Y, Del Taco systemwide sales pro-forma rose 2.9%.
Jack In The Box system same-store sales decreased 0.8%, while Del Taco's same-store sales pro-forma climbed 2.5%.
Company-operated same-store sales rose 1.7%, while Franchise same-store sales declined 1.1%.
Selling, general and administrative expenses rose 51% Y/Y to $28.5 million.
The operating margin was 11.9%, and operating income for the quarter fell 41% to $38.2 million.
The company held $84.6 million in cash and equivalents as of April 17, 2022.
Adjusted EPS of $1.16 missed the consensus of $1.38.
Outlook: Jack In The Box expects FY22 Operating EPS of $5.80 - $6.10 versus the consensus of $6.59.
Price Action: JACK shares are trading lower by 3.12% at $68.73 on the last check Thursday.

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