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Apr 14, 2024
Jack in the Box Q2 2024 Earnings Report
Jack in the Box Inc. reported second quarter earnings for 2024, with diluted EPS of $1.26 and operating EPS of $1.46.
Key Takeaways
Jack in the Box Inc. announced financial results for the second quarter ended April 14, 2024. The company reported better-than-expected earnings and margin performance despite macro headwinds and the implementation of California's minimum wage legislation. Top-line performance was impacted by a shift in consumer behavior and a delay in the Smashed Jack launch.
Jack in the Box same-store sales decreased by 2.5%.
Del Taco same-store sales decreased by 1.4%.
Diluted EPS was $1.26; Operating EPS was $1.46.
Jack in the Box restaurant level margin was 23.6%, up 2.2% from prior year.
Jack in the Box
Jack in the Box
Jack in the Box Revenue by Segment
Revenue by Segment
Company Restaurant Sales Revenue
CapyFin.comFranchise Rental Revenues Revenue
CapyFin.comFranchise Royalties and Other Revenue
CapyFin.comFranchise Advertising Contributions Revenue
CapyFin.com Forward Guidance
The company provided guidance for the fiscal year ending September 29, 2024.
Positive Outlook
- Adjusted EBITDA of $325-$330 million
- Operating EPS of $6.25-$6.40
- Depreciation & Amortization of $60-$62 million
- Jack in the Box Same Store Sales growth of Flat-to-Low Single Digits
- Company-Owned Restaurant Level Margin of 22-23%
Challenges Ahead
- Del Taco Same Store Sales growth of Flat-to-Low Single Digits
- Del Taco Franchise Level Margin of 27-29%
- Increasing macro headwinds
- Pressure on low-income consumers
- Implementation of California's minimum wage legislation
Revenue & Expenses
Visualization of income flow from segment revenue to net income