Jack in the Box Inc. JACK reported fiscal fourth quarter earnings Tuesday.
Revenue came in at $344.68 million, above estimates of $342.28 million and the $337.98 reported in the year-ago period.
Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, were $0.54 in the fourth quarter of fiscal 2014 compared with $0.45 in the prior year quarter and above estimates of $0.53.
Lenny Comma, chairman and chief executive officer, said, “Operating earnings per share for the fourth quarter increased 20 percent, driven by better than expected same-store sales growth at Qdoba Mexican Grill® and Jack in the Box®, margin expansion, and a 10 percent reduction in our diluted share count as we continued to use our growing free cash flow to return cash to shareholders. This performance capped a terrific year, with operating earnings per share up approximately 35 percent, the third consecutive year of growth in excess of 30 percent.”
Fiscal first quarter guidance included the following expectations:
Same-store sales are expected to increase approximately 1.0 to 2.0 percent at Jack in the Box company restaurants versus a 2.1 percent increase in the year-ago quarter.
Same-store sales are expected to increase approximately 8.0 to 10.0 percent at Qdoba company restaurants versus a 2.0 percent increase in the year-ago quarter.
Jack in the Box Inc. traded at $72.82, up 1.85 percent.
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