Jack in the Box Q3 2023 Earnings Report
Key Takeaways
Jack in the Box Inc. reported a decrease in total revenues by 0.3% to $396.9 million. Diluted EPS was $1.41, and Operating EPS was $1.45. Jack in the Box same-store sales increased by 7.9%, while Del Taco same-store sales increased by 1.7%. The company refranchised 73 Del Taco restaurants and is making progress on net unit growth.
Jack in the Box same-store sales increased 7.9%, and Del Taco same-store sales increased 1.7%.
Diluted EPS reached $1.41, and Operating EPS was $1.45.
Jack in the Box signed 77 agreements for 340 restaurants since mid-2021.
The company refranchised 73 Del Taco restaurants during and subsequent to Q3.
Jack in the Box
Jack in the Box
Jack in the Box Revenue by Segment
Forward Guidance
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. The company now plans to execute at least $80 million in share repurchases in FY 2023 (previously $70 million)
Revenue & Expenses
Visualization of income flow from segment revenue to net income