By Dean Seal
Shares of Jack in the Box jumped after the company's adjusted earnings for the fiscal first quarter were higher than Wall Street analysts had expected.
The stock was up 14%, at $38.56, midday Wednesday. Shares are still down about 7% since the start of the year and were trading at around $70.77 this time a year ago.
The San Diego, Calif., fast-food chain said after Tuesday's closing bell that it posted a profit of $33.7 million, or $1.75 a share, for the quarter ended Jan. 19, compared with $38.7 million, or $1.93 a share, in the same period a year earlier.
Stripping out one-time items, adjusted earnings were $1.92 a share. Analysts polled by FactSet had been expecting $1.70 a share.
Revenue slid 3.7%, to $469.4 million, just under analyst projections for $470.3 million, according to FactSet.
The company's comparable sales were down 0.4%, but better than investors had feared, Jefferies analysts said in a research note.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 26, 2025 12:14 ET (17:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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