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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.
Revenue by Segment
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%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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