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Jul 07, 2024
Jack in the Box Q3 2024 Earnings Report
Jack in the Box Inc. reported a net loss due to a goodwill impairment charge for Del Taco, despite operational improvements and strategic initiatives.
Key Takeaways
Jack in the Box Inc. announced third-quarter results with a diluted loss per share of ($6.26), impacted by a $162.6 million non-cash goodwill impairment charge for Del Taco. Operating EPS was $1.65. Systemwide sales decreased for both Jack in the Box and Del Taco brands. The company is focusing on value, innovation, and late-night offerings to improve transactions and drive momentum into 2025.
Jack in the Box same-store sales decreased by 2.2%.
Del Taco same-store sales decreased by 3.9%.
Diluted loss per share was ($6.26), including a $162.6 million non-cash goodwill impairment charge for Del Taco.
Operating EPS was $1.65.
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
Jack in the Box Inc. provided updated guidance for the fiscal year ending September 29, 2024, including Adjusted EBITDA of $320-$325 million and Operating EPS of $6.10-$6.25. The company also offered segment-specific guidance for Jack in the Box and Del Taco.
Positive Outlook
- Adjusted EBITDA of $320-$325 million
- Operating EPS of $6.10-$6.25
- Jack in the Box Same Store Sales of approximately (1.0%)
- Company-Owned Restaurant Level Margin of approximately 22%
- Del Taco Same Store Sales of approximately (1.5%)
Challenges Ahead
- SG&A (excluding COLI gains/losses) of approximately $160 million
- Jack in the Box Same Store Sales of approximately (1.0%)
- Del Taco Same Store Sales of approximately (1.5%)
- Company-Owned Restaurant Level Margin of approximately 22%
- Company-Owned Restaurant Level Margin of approximately 14%
Revenue & Expenses
Visualization of income flow from segment revenue to net income