Jack In The Box misses Street 1Q forecasts
- Author: Zachary Reyes Feb 24, 2017,
Feb 24, 2017, 10:22
The quick-service restaurant chain reported earnings seven cents below estimates at $1.18 per share. Apart from menu innovation and remodeling efforts, the company expects catering, marketing initiatives and delivery to boost comps at the Qdoba brand. Prior to today's report, JACK had already declined -7.20% year-to-date, versus a +5.70% rise in the benchmark S&P 500 index during the same period. The stock is now down 9.60 on 437K shares. Operating earnings rose to $1.18 a share from 93 cents a year earlier.
Jack In The Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, February 22nd. (NASDAQ:JACK) late Wednesday posted lackluster fiscal first quarter earnings results and offered a very tepid outlook for 2017, citing ongoing weakness at its Qdoba burrito restaurants.
Missed revenue estimates. The company saw revenue figures of $488 million, missing our consensus estimate of $498 million. The stock was sold at an average price of $105.28, for a total transaction of $2,009,374.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The stock was sold at an average price of $104.32, for a total value of $4,733,415.68. Also, VP Carol A. Diraimo sold 963 shares of Jack In The Box stock in a transaction that occurred on Tuesday, November 29th. If you are accessing this story on another domain, it was stolen and reposted in violation of United States & worldwide copyright & trademark law.
On a per-share basis, the San Diego-based company said it had profit of $1.11. Corporate insiders own 2.10% of the company's stock.
"We were pleased that Jack in the Box system same-store sales outperformed sluggish industry trends during the quarter". The Jack in the Box menu features a variety of hamburgers, specialty sandwiches, salads, Mexican food, finger foods and side items.