Jack In The Box Inc

Latest Results (14.08.2024):

Jack in the Box Inc. Third Quarter 2024 Sales Performance

Jack in the Box Inc. reported a same-store sales decrease of 2.2% for the third quarter of 2024. This decline was comprised of a 2.4% decrease in franchise same-store sales and a slight increase of 0.1% in company-owned same-store sales. Systemwide sales for the quarter decreased by 1.3%, reflecting a challenging sales environment.

Del Taco Third Quarter 2024 Sales Results

Del Taco, a brand under Jack in the Box Inc., experienced a same-store sales decline of 3.9% in the third quarter of 2024. This included a 4.1% decrease in franchise same-store sales and a 3.5% decrease in company-operated same-store sales. Systemwide sales for Del Taco decreased by 3.2% during the quarter.

Jack in the Box Inc. Third Quarter 2024 Earnings

Jack in the Box Inc. reported a diluted loss per share of ($6.26) for the third quarter of 2024, which includes a $162.6 million non-cash goodwill impairment charge for Del Taco. However, the company's operating earnings per share, a non-GAAP measure, was $1.65, showing an improvement from $1.45 in the prior year quarter.

Company-Wide Financial Performance

For the third quarter of 2024, Jack in the Box Inc. reported total revenues of $369.2 million, a 7.0% decrease compared to $396.9 million in the prior year quarter. The net loss for the quarter was ($122.3) million, primarily due to the goodwill impairment charge for Del Taco. Adjusted EBITDA, a non-GAAP measure, was $78.9 million, down from $81.6 million in the previous year.

Capital Allocation and Dividends

During the third quarter of 2024, Jack in the Box Inc. repurchased 0.3 million shares of its common stock for an aggregate cost of $15.1 million. Additionally, the Board of Directors declared a cash dividend of $0.44 per share, to be paid on September 19, 2024, to shareholders of record as of August 30, 2024.