Jack in the Box Shares Lower After-Hours on Outlook

Jack in the Box (JACK)   issued a downbeat profit outlook for fiscal 2017 after Monday's market close, pushing the shares of the San Diego, Calif.-based quick-service restaurant down about 3.6% to $98 in the extended trading session.

The company expects to report fiscal 2017 adjusted earnings of between $4.55 and $4.75 a share. Analysts surveyed by FactSet are modeling $4.75 a share for the year.

The company also reported that in the fourth quarter, adjusted earnings rose to $1.03 a share from 62 cents a share a year ago, topping the FactSet consensus of 88 cents a share. 

The most recent quarterly results included an extra week that benefited per-share earnings by 9 cents, the company said. Profit was also helped by a decline in general and administrative costs due to restructuring initiatives, as well as lower impairment charges and a lower tax rate, CEO Lenny Comma said in a statement.

Revenue climbed to $398.4 million from $354.1 million a year ago. Analysts were looking for $398.6 million.

Jack in the Box system same-store sales rose 2% for the period, beating estimates of 1.6% growth.

The company will hold a conference call to discuss the results at 11:30 a.m. EST on Tuesday.

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