Fast-food chain Jack in the Box, Inc. (NASDAQ: JACK) reported operating earnings of $0.95 per share for the fourth quarter of 2019, on an adjusted basis, vs. $0.96 per share expected.
Net earnings advanced to $22.06 million or $0.86 per share from $16.27 million or $0.60 per share in the fourth quarter of 2018.
Fourth-quarter revenues increased 25% annually to $221.24 million from $177.47 million last year, vs. $222.82 million expected
Adjusted EBITDA was $66.80 million during the three-month period, compared to $54 million a year earlier
Company same-store sales grew 3.5%, while both franchise same-store sales and systems sales rose 3% each
Restaurant-level margin dropped to 24.2% from 26.1% in the fourth quarter of 2018; franchise-level margin was 41.1%
Repurchased 1.4 million shares for about $125 million during the quarter
Expects full-year system same-store sales to increase between 1.5% and 3%; sees restaurant-level margin of 25% of company restaurant sales
Expects adjusted EBITDA in the range of $265 million to $275 million