Jack in the Box Inc. (NASDAQ:JACK) Q1 2023 Earnings Conference Call March 1, 2023 11:00 AM ET

Company Participants

Chris Brandon – Vice President-Investor Relations

Darin Harris – Chief Executive Officer

Dawn Hooper – Interim Chief Financial Officer

Conference Call Participants

Brian Bittner – Oppenheimer & Company

Lauren Silberman – Credit Suisse

Gregory Francfort – Guggenheim Securities

Brian Mullan – Deutsche Bank

Chris O’Cull – Stifel

Alex Slagle – Jefferies

Brian Harbour – Morgan Stanley

David Tarantino – Baird

Jeff Bernstein – Barclays

Andrew Charles – TD Cowen

Chris Carril – RBC Capital Markets

John Tower – Citibank

Operator

Ladies and gentlemen, thank you for standing by. My name is Lisa, and I will be your conference operator today. At this time, I would like to welcome everyone to the Jack's First Quarter 2023 Earnings Webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

It is now my pleasure to turn today's call over to Chris Brandon, Vice President of Investor Relations.

Chris Brandon

Thanks, operator, and good morning, everyone. We appreciate you joining today's conference call highlighting results from our first quarter 2023. With me today are Chief Executive Officer, Darin Harris; and our Interim Chief Financial Officer, Dawn Hooper. Following their prepared remarks, we will be happy to take questions from our covering sell-side analysts.

Note that during both our discussion and Q&A, we may refer to non-GAAP items. Please refer to the non-GAAP reconciliations provided in today's earnings release, which is available on our Investor Relations website at jackinthebox.com. We will also be making forward-looking statements based on current information and judgments that reflect management's outlook for the future. However, actual results may differ materially from these expectations because of business risks. We, therefore, consider the safe harbor statement in today's earnings release and the cautionary statements in our most recent 10-K to be part of our discussion. Material risk factors, as well as information relating to company operations are detailed in our most recent 10-K, 10-Q and other public documents filed with the SEC, and are available on our Investor Relations website.

And with that, I would like to turn the call over to our Chief Executive Officer, Darin Harris.

Darin Harris

Thanks, Chris, and good morning everyone. Before I review our first quarter results and provide updates to our four strategic pillars, let me discuss some key takeaways from our first quarter of 2023. We delivered outstanding performance with respect to same-store sales, improved Restaurant and Franchise-Level Margin and adjusted EBITDA. Our restaurant operators, franchisees and team members are doing a phenomenal job of serving our guests and creating a better experience. I never want to miss an opportunity to publicly say thank you for their efforts. I'm grateful for you and I'm proud of how well you focused on executing the basics of the business, which has led to a strong start to the year.