Jack in the Box Inc.: 2QF26 Earnings Prep

研报英文原文证据摘录

Jack in the Box Inc.: 2QF26 Earnings Prep

Equity Research

U.S. Restaurants

13 May 2026

Jack in the Box Inc.

2QF26 Earnings Prep

Earnings PreviewAs a reminder, JACK will report 2QF26 results today,

Wednesday, May 13th, after the market close and will host a

conference call at 5:00PM ET (investors.jackinthebox.com). JACK EQUAL WEIGHT

U.S. Restaurants NEUTRAL

Please find a short summary of our expectations & guidance Price Target USD 23.00

below... Price (11-May-26) USD 13.40

Potential Upside/Downside +71.6%

Source: Bloomberg, Barclays Research

Areas of focus for the conference call include the following: 1) Update to F26 guidance including

comp (down 1% to up 1% y-y), unit growth (down 1-4% y-y), along with directional thoughts on

franchisee commodity (up mid-single-digit y-y, driven by beef) & labor (up low-single-digit y-y) U.S. Restaurants

inflation, restaurant margin (17-18%), G&A spend ($125-135m), CapEx spend ($45-55m), and adj. Jeffrey A. Bernstein

+1 212 526 3855EBITDA ($225-240m ex Del Taco); 2) Sequential comp through 2QF26 and into 3QF26, with

jeffrey.bernstein@barclays.com

industry two-year trends reaccelerating to close 2QF26, albeit still well below January levels, as BCI, US

consumers likely remain cautious given elevated geopolitical uncertainty and sharply rising gas

prices, both of which have weighed on confidence of late; & 3) Updated thoughts from the C- Pratik Patel

+1 212 526 4438suite on the stand-alone Jack brand post the Taco sale, an update to the long-term outlook in

pratik.m.patel@barclays.com

the context of a challenging macro environment including confidence in the long-term BCI, US

algorithm, health of the franchisees amidst challenged fundamentals, along with update on

Jack on Track initiative. Anisha Datt

+1 212 526 1880