Jack In The Box Inc. JACK shares were trading lower in Tuesday’s after-hours session following the release of the company’s fourth-quarter earnings. Here’s what happening.
What To Know: Jack In The Box reported earnings of $1.09 per share, missing the $1.15 estimate.
Revenue clocked in at $372.524 million, beating expectations of $372.382 million, a decrease of 7.5% compared to $402.8 million in the same period last year.
The company reported that same-store sales for its Jack in the Box restaurant segment increased by 3.9% while Del Taco same-store sales fell 1.5% during the quarter.
Jack In The Box anticipated full-year 2024 earnings to be between $6.25 and $6.50 per share, versus the $6.60 estimate.
“We achieved several important milestones for our business in 2023 including positive unit growth, successful new market openings, accelerated Del Taco refranchising, strong same-stores sales performance and improvements in restaurant-level profitability,” said Darin Harris, Jack in the Box CEO.
“Despite some industry headwinds, we are excited about our opportunity in 2024 to expand both brands into new markets and continue driving our transformational growth strategy.”
Related Link: Why Guess? Stock Plummeted After-Hours
JACK Price Action: Shares of JACK were down 3.98% at $65.91 in the after-hours session at the time of publication, according to Benzinga Pro.
Photo: Robert Owen-Wahl from Pixabay
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