Jack In The Box Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - Jack in the Box Inc. (JACK) reported that its third-quarter earnings from continuing operations increased to $26.1 million, or $0.64 per share, from $17.3 million, or $0.38 per share, a year ago. Operating earnings per share were $0.65 in the third quarter of fiscal 2014.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.57 for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased to $348.49 million from $350.33 million, a year ago. Analysts expected revenue of $343.27 million for the quarter.

Lenny Comma, chairman and CEO, said, "Third quarter operating earnings per share increased 59 percent, driven by another quarter of better than expected same-store sales growth at Qdoba Mexican Grill, solid same-store sales growth at Jack in the Box, margin expansion, lower overhead, and a nearly 10 percent reduction in our diluted share count as we continued to use our growing free cash flow to return cash to shareholders."

The company expects its fourth-quarter same-store sales to increase approximately 1.5 to 2.5 percent at Jack in the Box company restaurants. Same-store sales are expected to increase approximately 5.0 to 6.0 percent at Qdoba company restaurants.

The company expects its fiscal 2014 same-store sales to increase approximately 1.5 to 2.0 percent at Jack in the Box company restaurants. Same-store sales are now expected to increase approximately 5.0 to 5.5 percent at Qdoba company restaurants. Operating earnings per share are now expected to range from $2.38 to $2.45 in fiscal 2014. Analysts expect the company to report fiscal 2014 earnings per share of $2.37.