JACK - Jack In The Box beats Q3 top and bottom line estimates; reaffirms FY23 outlook

2023-08-09 08:35:09 ET

• Jack In The Box press release ( NASDAQ: JACK ): Q3 Non-GAAP EPS of $1.45 beats by $0.11 .
• Revenue of $396.9M (-0.4% Y/Y) beats by $3.01M .

• Same-store sales of +7.9%; +17.5% on a three-year basis.

• Del Taco same-store sales of +1.7%; +12.3% on a three-year basis ^.

• Jack in the Box systemwide sales growth of +8.0%, Del Taco systemwide sales growth of +1.6% ^.

• All guidance and outlook provided on May 17, 2023 for the fiscal year ending October 1, 2023 remain the same, with the exception of two items:

  • The company now plans to refranchise 90-120 Del Taco restaurants in FY 2023, up from previous guidance of 65-85 restaurants. This will not impact our Operating EPS guidance of $5.90- $6.10 for FY 2023, which remains the same as previously stated vs. consensus of $6.11.
  • The company now plans to execute at least $80 million in share repurchases in FY 2023 (previously $70 million)

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