JACK - Jack in the Box shares slide on earnings miss underwhelming guidance
Jack In The Box (NASDAQ:JACK) shares slid sharply after the restaurant chain revealed disappointing earnings and expectations on Thursday. The San Diego-based fast food chain reported EPS of $1.16, missing analyst estimates by $0.21. Meanwhile, revenue of $322.29M came up $18.52M short of the analyst consensus. Additionally, same-store sales fell 0.8% in the second quarter while analysts had expected a positive jump. Omicron hangovers were blamed in part for the sliding sales, while CEO Darrin Harris added that “continued inflationary pressure” facing the restaurant industry tempered profitability and will likely continue to curtail more optimistic projections. In light of this commentary, it was unsurprising to see full year forecasts came up short of analyst consensus. Company-wide operating EPS is now expected to fall between $5.80 to $6.10 versus a consensus of $6.65. The company also updated wage and commodity price expectations to reflect inflationary pressures. Shares fell nearly 5% in
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Jack in the Box shares slide on earnings miss, underwhelming guidance