JACK - Jack In The Box gains after strong results

Jack In The Box (JACK) reports revenue increased 10% in FQ1 with Jack system comparable sales up 12.5% Y/Y.Adjusted EBITDA was $102.4M vs. $76.6M a year ago.The company ended the quarter with 2,237 locations, down 0.2% from the tally at the end of Q3.Margin breakdown: Restaurant-level margin increased by 70 basis points to 25.5% of company restaurant sales. Food and packaging costs decreased 150 bps in the quarter driven by menu price increases and favorable mix shift, partially offset by increases in ingredient costs. Commodity costs increased 1.6% in the quarter as compared with the prior year, due primarily to increases in produce, oil and pork. The decrease in food and packaging costs was partially offset by higher labor costs, resulting from wage inflation and higher incentive compensation, as well as higher occupancy and other costs driven by higher delivery fees.Shares of JACK +1.48% AH after the earnings topper.

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Jack In The Box gains after strong results