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Aug. 10, 2022, 8:46 a.m. EDT

Jack in the Box stock slips after profit misses expectations, while revenue and same-store sales beat

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By Tomi Kilgore

Shares of Jack in the Box Inc. /zigman2/quotes/206571438/composite JACK -0.58% slipped 0.6% in premarket trading Wednesday, after the fast-food burger chain reported second-quarter profit that missed expectations but revenue and same-store sales that beat, as traffic declines were partially offset by a higher average check, due mostly to higher pricing. Net income fell to $22.9 million, or $1.08 a share, from $40.0 million, or $1.79 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.38 missed the FactSet consensus of $1.45. Revenue jumped 47.8% to $398.3 million, above the FactSet consensus of 383.4 million, as same-store sales declined 0.6% but beat expectations for a 1.6% drop. Sales for the company's Del Taco restaurant chain rose 3.3%, and same-store sales increased 3.5%. Restaurant-level margin fell to 15.8% from 25.4%, due to increases in food and packaging costs, wage inflation of 13.2% and higher utilities and maintenance costs, partially offset by menu price increases. The stock has lost 9.4% over the past three months through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.51% has gained 3.0%.

/zigman2/quotes/206571438/composite
US : U.S.: Nasdaq
$ 74.07
-0.43 -0.58%
Volume: 322,066
Sept. 30, 2022 4:00p
P/E Ratio
14.54
Dividend Yield
2.38%
Market Cap
$1.57 billion
Rev. per Employee
$253,540
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/zigman2/quotes/210599714/realtime
US : S&P US
3,585.62
-54.85 -1.51%
Volume: 2.22B
Sept. 30, 2022 5:55p
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