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Jack in the Box (NASDAQ: JACK) trading high after topping analysts prediction

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Solid fourth-quarter fiscal 2020 results were reported by Jack in the Box Inc., where earnings and revenues not only surpassed the Zacks Consensus Estimate, but also increased year-over-year. Following the quarterly earnings, the company’s stock inched up 6.6 percent on Nov 18 during after-hour trading.

On Thursday November 19, 2020, Jack in the Box (NASDAQ: JACK) was trading up 5.81% to 91.81 in the early trading.

For the entire fiscal year, earnings per share came in at $4.65, compared with $4.35 recorded in the previous year.

For fiscal 2020, Jack in the Box (NASDAQ: JACK) restaurant revenues were registered at $349 million, compared to 336.8 million in 2019.For the 52-week duration ending September 27, 2020, adjusted EBITDA amounted to $274.2 million compared to $269 million posted in the previous year.

Adjusted earnings from ongoing operations were $1.61 per share, exceeding by 41.2 percent the Zacks Consensus Estimate of $1.14. From 95 cents recorded in the previous year’s quarter, the metric also improved 69.5 percent.
Total sales of $255.4 million beat the Zacks Consensus outlook of $249 million by 2.6 points during the fiscal fourth quarter. Moreover, on a year-over-year basis, the top line rose 15.4 percent.

Rental revenues from franchises rose to $78.7 million or up 23.1 percent from the year before. The growth was partly supported by the launch of ASC 842 as well as higher percentage rent profits attributed to a spike in franchise restaurant revenue.

Due to a rise in franchise same-store sales, franchise royalties and other revenues increased 15.1 percent year over year to $44.9 million.

Jack in the Box (NASDAQ: JACK) franchise contributions to sales from ads and other facilities rose 14.2 percent year on year to $45.1 million, largely due to a rise in payments for technology and sourcing, partly offset by a reduction in marketing contributions.

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