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Pratik

Vice President and Equity Research Analyst at Barclays

Pratik Arora is a Vice President and Equity Research Analyst at Barclays, specializing in the technology sector with a focus on software and cybersecurity companies. He covers specific firms including CrowdStrike (CRWD), Palo Alto Networks (PANW), and Zscaler (ZS), boasting a strong performance track record with a 68% success rate on TipRanks, ranking in the top 10% of analysts, and generating average returns of 14.2% per rating. Arora joined Barclays in 2021 after previous roles at Jefferies as an Associate Analyst from 2018 to 2021 and at Deutsche Bank earlier in his career starting in 2016, holding a total of over eight years in equity research. He is FINRA-registered with Series 7, 63, and 86/87 licenses, and has been recognized in Institutional Investor surveys for his technology coverage.

Pratik's questions to JACK IN THE BOX (JACK) leadership

Question · Q1 2026

Pratik asked about franchisee four-wall margins, which are presumably below the company's 16.1%, and what short-term assistance, such as commodity price negotiation or rent relief, Jack in the Box could offer to help franchisees. He also asked about the company's price-value strategy, given the modest improvement in company traffic and the shift from mid-2% pricing in fiscal 2025 to 3% in Q1 2026.

Answer

CEO Lance Tucker stated that while franchisees generally have good economics, four-wall EBITDA is under pressure due to sales conditions and beef inflation. He indicated no blanket assistance but mentioned looking at one-off cases for struggling franchisees. He highlighted efforts to improve profitability through team restructuring, new soft drink dispensers, supply chain cost cuts, and digital program revamps. Regarding pricing, he noted the company took slightly more price in Q1 while maintaining value, also mentioning price reductions on bundles and increased soft drink ounces.

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