The old Jack in the Box at 2959 Upas Street
Stock of San Diego fast-food chain Jack in the Box plunged more than 19 percent in after-hours trading today (February 17). The company missed Wall Street's quarterly revenue and earnings-per-share expectations, and also gave a weak forecast for the full year. (At 6:30 p.m. West Coast time, it was down 19.3 percent.)
For its first quarter ended January 17, the company reported earnings of 93 cents a share. The average estimate of ten analysts surveyed by Zacks Investment Research was for $1.03 a share. Revenue for the quarter was $470.8 million. Analysts had expected $475.4 million.
Jack blamed its weak results partly on "aggressive value offers" of competing chains and the launch of the all-day breakfast by McDonald's. Jack looks for full-year earnings of $3.50 to $3.63 a share. Analysts have been expecting $3.63.