Jack In The Box (JACK) reported earnings on Mon 19 Nov 2018 (a/h)

** charts after earnings **

 

Jack In The Box misses by $0.08, beats on revs 

• Reports Q4 (Sep) earnings of $0.77 per share, excluding non-recurring items, $0.08 worse than the S&P Capital IQ Consensus of $0.85; revenues fell 23.5% year/year to $177.47 mln vs the $175.26 mln S&P Capital IQ Consensus.
  • System same-store sales increased 0.5%.
• Lenny Comma, chairman and chief executive officer, said, "Same-store sales were positive in the fourth quarter, although we experienced a slowdown in September along with the rest of the category. The competitive environment remains extremely aggressive, but we continue to avoid deep discounting which we believe is not in the best interests of the long-term health of the brand."
• Fiscal 2019 guidance:
  • System same-store sales of approximately flat to up 2.0 percent.
  • Restaurant-Level EBITDA of approximately 26.0 to 27.0 percent of company restaurant sales.
  • Adjusted EBITDA of approximately $260 to $270 million.
  • Following implementation of a new capital structure in the first half of fiscal 2019, the company expects to increase its leverage ratio to approximately 5.0 times EBITDA.
• The company also announced today that on November 15, 2018, its Board of Directors declared a cash dividend of $0.40 per share on the company's common stock. The dividend is payable on December 18, 2018, to shareholders of record at the close of business on December 5, 2018.