Jack in the Box Incorporated reported higher than expected fourth quarter overall earnings last Tuesday. Overall revenue was recorded in $344.68M, significantly higher than previous estimates forecasted amounting to $342.28M and last year’s $337.98M.
Overall operating earnings for every share, a measure that is non-GAAP, which Jack in the Box defines as earnings that are diluted for every share of the company’s continuing operations based on GAAP standards that excludes charges for restructuring and also losses and gains from refranchising, amounted to $0.54 during 2014’s fourth quarter, higher than last year’s $0.45which is above previous estimates which was recorded in $0.53.
The company’s chief executive officer and chairman, Lenny Comma, stated that the company’s overall operating earnings for every share for this year’s fourth quarter jumped 20%, which was pushed by higher than expected sales growth for same-store at Jack in the Box® and Qdoba Mexican Grill® margin expansions, and also a 10% reduction in their diluted share overall count as the company continued in using their free and growing cash flow in order to give back cash to their shareholders.
Comma added that this year’s performance capped the company’s terrific year. He also stated that with operating overall earnings for every share up by approximately 35%, the company’s third consecutive growth for this year will be more than 30%.
Same-store overall sales are currently expected to rise in their company restaurants to about 1% to 2% compared to last year’s 2.1% increase. The company is also expecting that same-store overall sales in their Qdoba restaurants to increase by almost 8% to 10% compared to last year’s 2%.