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Oct 02, 2022
Jack in the Box Q4 2022 Earnings Report
Jack in the Box Inc. reported Q4 2022 earnings with revenue increasing by 44.6% and same-store sales growing for both Jack in the Box and Del Taco.
Key Takeaways
Jack in the Box Inc. announced its Q4 2022 financial results, with total revenues increasing by 44.6% to $402.8 million. Diluted earnings per share was $2.17. Jack in the Box same-store sales increased by 4.0%, and Del Taco same-store sales increased by 5.2%. The company repurchased 0.3 million shares of its common stock for $25.0 million during the quarter.
Jack in the Box same-store sales increased 4.0% in Q4 2022.
Del Taco same-store sales increased 5.2% in Q4 2022.
Systemwide sales increased 4.1% for Jack in the Box and 4.2% for Del Taco in Q4 2022.
Net earnings increased to $45.9 million for the fourth quarter of fiscal 2022.
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 guidance for fiscal year 2023, expecting positive net unit growth for Jack in the Box, driven by 25-30 gross openings, and 8-12 gross openings for Del Taco. The company anticipates low single-digit same-store sales growth for both brands. Restaurant Level Margin is expected to be 18-20% for Jack in the Box and 14-16% for Del Taco.
Positive Outlook
- Expects positive net unit growth in 2023, led by 25-30 gross openings for Jack in the Box.
- Del Taco expects 8-12 gross openings in 2023.
- Anticipates low single-digit same-store sales growth for both Jack in the Box and Del Taco.
- Jack in the Box Restaurant Level Margin is expected to be 18-20%, which includes high single digit price increases.
- Del Taco Restaurant Level Margin is expected to be 14-16%, which includes high single digit price increases.
Challenges Ahead
- Jack in the Box Restaurant Level Margin is impacted negatively by 125 bps due to the remaining Evolving Markets.
- Digital and restaurant level technology investments are expected to pressure Operating EPS by $0.22 in FY 2023.
- FY 2023 Company-owned Commodity Guidance up 9-11% vs. 2022
- FY 2023 Company-owned Wage Rate Guidance up 3-6% vs. 2022
- Operating EPS Guidance includes $0.08 negative impact associated with the reduction in rental revenue from real estate sales
Revenue & Expenses
Visualization of income flow from segment revenue to net income