Jack in the Box Q3 earnings $37.1 millionStaff Writer | August 10, 2017
Jack in the Box reported earnings from continuing operations of $37.1 million, or $1.25 per diluted share, for the third quarter ended July 9, 2017.
Jack in the Box $1.25 per diluted share
Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, were $0.99 in the third quarter of fiscal 2017 compared with $1.07 in the prior year quarter.
Restructuring charges of $1.8 million, or approximately $0.04 per diluted share, were recorded during the third quarter of fiscal 2017, including $1.7 million related to the evaluation of potential alternatives with respect to the Qdoba brand.
During the third quarter of fiscal 2017, the company took over 31 franchised Jack in the Box restaurants from an underperforming franchisee and incurred costs of $4.4 million, or approximately $0.10 per diluted share, related to these restaurants, which negatively impacted operating earnings per share.
These costs are reflected in franchise revenue ($1 million), G&A ($2.4 million) and impairment ($1 million). ■