Jack in the Box (JACK) - Turnaround Still in Progress; CEO Transition Announced

研报英文原文证据摘录

Jack in the Box (JACK) - Turnaround Still in Progress; CEO Transition Announced

Consumer

Restaurants - Market Overweight

JACK IN THE BOX, INC. (JACK) May 13, 2026

Jack in the Box (JACK) - Turnaround Still in Progress; CEO Rating:

Transition Announced Peer Perform

Price:

$12.79

The Wolfe Byte Price Target:

JACK's F'2Q (April end) missed on comps (-3.8% vs FC -2.9%) as the turnaround NA

remains a work in progress amid a pressured consumer and challenged franchise View JACK Model

View Comp Tablesystem. A CEO transition was announced with Board Chair Mark King (former Taco

Bell CEO) named interim-CEO. Company Information

52-Week Range $9 - $26

Market Cap. (MM) $243

F’2Q (Apr-end) Results - Systemwide comps came below expectations (-3.8% vs Enterprise Value (MM) $2,777

FC of -2.9%). Adjusted EBITDA of $51.3mm came above FC of $50.3mm. Operating Shares Out. (MM) 19.0

Avg. Value Traded (MM) $9.71

margins of 13.9% came below FC of 14.4%. Adjusted EPS of $0.76 slightly beat FC SI% of Float 38.1%

of $0.74.

Jack in the Box Comp Detail - Systemwide Jack comps of -3.8% came below 2826

FC's -2.9% (company comps were -2.8% & franchise comps were -3.9%). Comps 2422

were negatively affected by continued transaction decline (price was positive). 2018

16Management noted that sales trends improved throughout Q2 driven by a better

balanced barbell strategy of value (Munch Better Deals) and premium innovation 12

(Smashed Jack Sliders). Company restaurant margins contracted -320bps y/y to 108

16.4% (vs a -710bps y/y contraction last quarter), and were impacted by commodity Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26

inflation (~5%). Source:JACKFactSet

Quarter-to-Date Commentary - Management highlighted that QTD F'3Q same-store Priced as of 05/13/26