Jack in the Box (NASDAQ:JACK) reported its quarterly earnings results late today, bringing in a profit that surpassed what analysts called for, while revenue was below expectations, resulting in JACK stock not experiencing much movement after Wall Street closed Wednesday.
The San Diego, Calif.-based fast food restaurant chain said that for its second quarter of its fiscal 2019, it brought in net income of $25.1 million, which amounted to 96 cents per share. On an adjusted basis when considering restructuring costs and to take into account discontinued operations, the business brought in earnings of 99 cents per share.
These results were stronger than what Wall Street projected for Jack in the Box during the period as the average estimate of nine analysts who were polled by Zacks Investment Research was for earnings of 92 cents per share. Earnings also increased about 23.8% when compared to the company’s year-ago profit of 80 cents per share on an adjusted basis.
The burger business added that its revenue for the three-month period came in at $215.7 million, which was below the mark. The average guidance of seven analysts surveyed by Zacks was for revenue of $217.4 million, while also topping Jack in the Box’s year-ago sales by 3%.
“Our greater emphasis on bundled value in the second quarter resulted in a sequential improvement in traffic and sales without sacrificing restaurant margins,” Jack in the Box CEO Lenny Comma said. “We’re pleased that this momentum has accelerated through the first four weeks of our third quarter as same-store sales have increased by more than two percent.”
JACK stock was unmoved after hours. Shares had gained 0.6% during regular trading hours.
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