Jack in the Box (NASDAQ:JACK) earnings for fiscal second quarter of 2020 have JACK stock falling after markets closed on Wednesday. That’s due to its adjusted earnings per share (EPS) of 50 cents coming in below Wall Street’s estimate of 65 cents. However, the fast-food chain’s revenue of $216.16 million is better than analysts’ estimates of $210.76 million.
Now, let’s take a more in-depth look at the most recent Jack in the Box earnings report below.
- Adjusted per-share earnings are down 49.5% from 99 cents in the same period of the year prior.
- Revenue comes in slightly higher than the $215.73 million reported during its fiscal second quarter of 2019.
- Operating income of $32.84 million is a 30.3% drop year-over-year from $47.12 million.
- The Jack in the Box earnings report also sees it bringing in a net income of $11.46 million.
- That’s 54.3% worse than the company’s net income of $25.09 million.
Lenny Comma, chairman and CEO of Jack in the Box, said this in the fiscal Q2 earnings report:
“Given this uncertainty, we are prioritizing actions to bolster liquidity in the event we encounter greater volatility to our business. Because of this, we have temporarily suspended both share repurchases and the quarterly dividend typically paid next month with the intent to re-evaluate these decisions each quarter as we gain greater clarity on any further negative impact to our business trends.”
Jack in the Box is withdrawing its long-term guidance due to the novel coronavirus. This comes after it previously withdrew its fiscal 2020 guidance.
JACK stock was down 4% after-hours Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.