Better-Than-Expected Q3 Sends Jack in the Box Shares Over 13% Higher Thursday Morning
Shares of Jack in the Box (NASDAQ: JACK), one of the largest hamburger chains in the U.S. with over 2,200 total locations, are up more than 13% Thursday morning after the company beat analysts' third-quarter estimates on the top and bottom lines.
The fast-food chain recorded a jump in revenue from the prior year's $188 million up to $222 million during the fiscal third quarter, just ahead of analyst estimates for $220 million. Adjusted earnings per share checked in at $1.07, up from the prior year's $1 per share and better than analyst estimates that also called for $1 per share. Jack in the Box's system same-store sales, which include figures from both the company-owned restaurants as well as franchises, increased 2.7% during the third quarter. Those same-store sales figures were a large improvement from the prior year's 0.5% gains. "Our greater emphasis on bundled value in the third quarter resulted in a substantial improvement in both traffic and sales trends while also driving check and maintaining strong restaurant margins," said Chairman and CEO Lenny Comma in a press release.
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