Why Jack In The Box (JACK) Shares Are Plunging Today - Jack In The Box (NASDAQ:JACK)

Jack In The Box Inc JACK reported fourth-quarter FY22 sales growth of 44.6% year-on-year to $402.8 million, beating the consensus of $392.52 million.
Jack in the Box Same-store sales increased 4.0% in the fourth quarter, comprised of an increase in company-operated same-store sales of 11.4% and an increase in franchise same-store sales of 3.2%. Systemwide sales for the fourth quarter increased 4.1%.
Del Taco Systemwide sales increased 4.2% driven by positive results in both franchise and company-operated same-store sales. Same-store sales increased 5.2% in the fourth quarter.
Selling, general and administrative expenses rose 77% Y/Y to $37.5 million.
The operating margin was 20.9%, and operating income for the quarter rose 22.8% to $84.4 million.
Adjusted EBITDA was $77.9 million compared with $74.3 million for the prior year quarter.
Adjusted EPS of $1.33 missed the consensus of $1.36.
On November 18, 2022, the company's board declared a cash dividend of $0.44 per share, to be paid on December 22, 2022, to shareholders of record on December 7, 2022.
The company held $136 million in cash and equivalents as of October 2, 2022.
Outlook: Jack In The Box expects FY23 Operating EPS of $5.25 - $5.65 versus the consensus of $6.59.
Also Read: Cowen Thinks Jack In The Box's Q4 Adj EBITDA To Be Affected By Economic Challenges
Price Action: JACK shares are trading lower by 17.60% at $70.00 on the last check Tuesday.
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Jack In The Box Plunges After Gloomy Outlook, Q4 Bottom-Line Miss