Total Revenue

3.7% decline (from $487.50M to $469.44M)

Total revenue declined mainly due to the steep drop in Del Taco revenue (down 17% from $119.16M to $98.37M), which outweighed the modest gain in Jack in the Box revenue (up 0.75% from $368.34M to $371.06M). The shift caused by refranchising reduced company-operated sales, impacting the overall revenue base. " " " "

Jack in the Box revenue

Up 0.75% (from $368.34M to $371.06M)

Jack in the Box’s revenue grew modestly due to slight same-store sales improvements and stable operational performance, despite an industry environment affected by the refranchising strategies at Del Taco in prior periods. " "

Del Taco revenue

17% decline (from $119.16M to $98.37M)

Del Taco’s significant revenue drop stemmed from the refranchising of restaurants, which reduced company-operated sales (illustrated by a decline from around $91.98M in Q1 FY2024 to $67.65M in Q1 FY2025) and weaker same-store sales, reflecting the continued strategic shift to an asset-light business model. " "

Net Income

13% decline (from 38,683K to 33,686K)

Net income fell by 13% as the revenue contraction—largely driven by lower Del Taco sales—combined with increased operating costs, eroding profitability compared to the previous period’s performance. "

Basic EPS

8.5% decline (from $1.94 to $1.77)

Basic EPS decreased due to the lower net income and added pressure from higher operating expenses and an increased effective tax rate, resulting in reduced per-share earnings compared to Q1 FY2024. "

Net Change in Cash

Shift from -$103,373K to +$50,466K

Net change in cash improved dramatically as operating cash flows rebounded from a negative $22.7M to $105.7M, helped by favorable working capital changes, reduced stock repurchases, and lower investing outflows, marking a turnaround from the previous period. "

Same-Store Sales

FY 2025

no prior guidance

maintaining its annual same‑store sales guidance "

no prior guidance

Operating EPS

FY 2025

$5.05 to $5.45 "

maintaining its guidance for operating EPS "

no change

Adjusted EBITDA

FY 2025

$288 million to $303 million "

maintaining its guidance for adjusted EBITDA "

no change

Share Repurchase Allocation

FY 2025

Approximately $20 million "

$5 million "

lowered

Capital Expenditure

FY 2025

$105 million to $115 million "

$100 million to $105 million "

lowered

Same-store Sales & Recovery

Q2–Q4 2024 discussions focused on notable same-store sales declines across both brands with emerging signs of recovery momentum through innovation, pricing adjustments, and modest comps improvements. " " "

Q1 2025 reported a positive 0.4% same-store sales for Jack in the Box despite external challenges, although negative outlooks are expected for Q2 due to persistent macro pressures. " "

Mixed recovery with slight improvement in Q1 but continued caution ahead.

Menu & Product Innovation

Q2–Q4 2024 emphasized the introduction and evolution of key innovations such as the Smashed Jack burger, value platforms (e.g., Munchies Under $4, $5 deals), and premium limited-time offers driving customer excitement. " " "

Q1 2025 continues to stress a strong marketing calendar, value leadership, and leveraging the “barbell” strategy to maintain competitive menu offerings and further drive recovery. " "

Consistent focus with a renewed emphasis on value and balanced innovation.

Digital Transformation & Loyalty Programs

Across Q2–Q4 2024, significant initiatives were detailed—launching new apps, upgrading the POS system, and enhancing loyalty programs—all contributing to growing digital order share and improved customer data integration. " "

Q1 2025 highlights sustained digital investments driven by the IT team, though the discussion is more focused on overall digital growth than specific loyalty enhancements. " "

Continued emphasis on digital evolution, with fewer detailed updates on loyalty in Q1.

Expansion & Development Pipeline

Q2–Q4 2024 updates detailed aggressive geographic expansion into new markets (e.g., Chicago, Florida, Mexico) and a robust development pipeline with hundreds of sites in permitting, construction, or development agreements. " " "

Q1 2025 reaffirmed expansion plans with expectations to open 35–45 Jack in the Box restaurants and 15–20 Del Taco units, underscoring targeted market entries. " "

Expansion remains a strategic priority with consistent, targeted growth plans.

Capital Allocation Strategies

Q2–Q4 2024 discussions covered share repurchase activities, debt levels, and capital expenditure commitments—balancing shareholder returns with investments in growth and technology. " " "

Q1 2025 shifts focus notably toward debt reduction, repurchasing a smaller amount of shares, and reallocating capital to free cash flow improvement. " "

Shift toward prioritizing debt reduction over share repurchases compared to earlier periods.

Labor Cost Challenges & Regulatory Impacts

Q2–Q4 2024 featured extensive commentary on rising labor costs due to new minimum wage laws (e.g., California’s AB1228), increased labor percentages, and mitigation strategies through pricing and operational adjustments. " " "

Q1 2025 did not include any discussion of labor cost challenges or regulatory impacts, suggesting less emphasis in the current narrative [document review].

Omission in Q1 indicates a reduced focus or the perception that the issue is under control.

Consumer Sentiment & Traffic Trends

Q2–Q4 2024 discussions highlighted soft consumer sentiment, reduced traffic (with some geographic variation), and tactical responses including value initiatives to counteract macroeconomic headwinds. " " "

Q1 2025 continues to reflect cautious consumer sentiment, noting persistent macro pressures and expectations of negative same-store sales in Q2 driven by subdued traffic. " "

Consistently challenging environment with ongoing negative traffic trends amid cautious consumer behavior.

Asset-light Business Model & Franchising Dynamics

Q2–Q4 2024 updates underlined refranchising efforts, robust new franchisee signings, and a strategic move toward an asset-light model by reducing corporate store builds. " " "

Q1 2025 reiterates a commitment to an asset-light approach and highlights targeted franchise growth, especially with new openings and selective company builds. " " "

Steady emphasis remains on the asset-light strategy with continued franchise expansion.

Competitive Pressures & Aggressive Market Deals

Q2–Q4 2024 discussions noted heightened competitive pressure in value segments, with competitors launching aggressive deals, prompting Jack in the Box to respond with new value platforms and differentiated offerings. " " "

Q1 2025 did not mention competitive pressures or aggressive market deals specifically, suggesting that these issues may be less top of mind or integrated into broader market assessments [document review].

Not mentioned in Q1, indicating either integration into overall strategy or a temporary de-emphasis.

Franchisee Performance Disparities & Operational Execution

Q2–Q4 2024 calls detailed observable performance gaps between company-owned and franchisee locations, including steps to address operational execution and support franchisee pricing adjustments and technology upgrades. " "

Q1 2025 did not reference franchisee performance disparities or operational execution challenges, implying either stability or lower emphasis in the latest messaging [document review].

Omission in Q1 suggests improved stability or a strategic de-emphasis on the topic.

Goodwill Impairment & Acquisition Integration

Q2–Q4 2024 included material discussion: Q3 reported a significant $162.6 million goodwill impairment for Del Taco and Q2 mentioned nondeductible goodwill-related tax adjustments. " "

Q1 2025 did not mention goodwill impairment or integration challenges, possibly indicating that these issues are either resolved or not currently topical.

Absent in Q1, suggesting that previous challenges have been addressed or are not a current focus.