Core Viewpoint - Biglari Capital Corp. urges shareholders to vote against the re-election of Chairman David Goebel due to significant shareholder losses during his tenure [1][2][4] Group 1: Shareholder Value Loss - Under David Goebel's leadership, JACK shareholders have lost approximately $1.8 billion in shareholder value [2] - In the last five years, JACK's value decreased by 80%, while Mr. Goebel received $1.5 million in total compensation [3] Group 2: Accountability and Change - The company has spent $5 million to defend Mr. Goebel's directorship, which is seen as a misuse of shareholder capital [3][4] - Removing Mr. Goebel could lead to meaningful discussions in the boardroom and a potential positive market reaction, signaling a shift towards accountability [5] Group 3: Financial Distress Risks - One more year of Mr. Goebel's influence could risk pushing JACK into further financial distress, as the company has already suspended dividends and closed 150-200 stores [6]

Jack in the Box meal with branded bag, burger, curly fries, and drink on wooden table. Key Points Jack in the Box is working through execution and balance-sheet challenges, while McDonald’s highlights what strong operational discipline can deliver. Despite weak first-quarter results, analyst targets and ratings suggest continued confidence in a recovery over time. Technical support, heavy institutional ownership, and elevated short interest could amplify any upside catalyst. Interested in Jack In The ...

JACK Investor Presentation This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by words such as "anticipate," "believe," "estimate," "expect," "forecast," "goals," "guidance," "intend," "plan," "project," "may," "will," "would" and similar expressions. These statements are based on management's current expectations, estimates, forecasts and projections about our business and the industry in which we operate. Th ...

Core Insights - Jack in the Box has launched a new matcha beverage lineup nationwide, becoming one of the first quick-service restaurants (QSRs) in the U.S. to offer matcha drinks, aiming to make a café staple more accessible [1][1][1] Product Launch - The new Matcha Platform includes two beverages: Matcha Iced Latte and OREO® Matcha Shake, both made with real matcha to ensure consistent flavor, color, and performance [1][1][1] - The Matcha Iced Latte features matcha tea with sweetened cream and vanilla, served over ice, while the OREO® Matcha Shake combines a creamy vanilla shake with matcha tea and OREO® cookie crumbles [1][1][1] Strategic Focus - The introduction of matcha reflects Jack in the Box's strategy to innovate beyond traditional offerings, catering to evolving consumer tastes, particularly among younger Millennials and Gen Z [1][1][1] - The company emphasizes the importance of selecting a matcha that maintains quality in milk-based beverages and integrates well with their equipment [1][1][1] Company Background - Jack in the Box Inc., headquartered in San Diego, operates approximately 2,125 restaurants across 22 states, focusing on expanding its menu to include diverse flavors and trends [1][1][1]

Core Insights - Jack in the Box has launched a new matcha beverage lineup nationwide, becoming one of the first quick-service restaurants (QSRs) in the U.S. to offer matcha drinks, aiming to make a café staple more accessible [1][1][1] Product Details - The new Matcha Platform includes two beverages: - Matcha Iced Latte: Matcha tea with sweetened cream and vanilla, served over ice - OREO® Matcha Shake: A vanilla shake mixed with matcha tea and OREO® cookie crumbles, topped with whipped cream [1][1][1] Strategic Focus - The introduction of matcha reflects Jack in the Box's shift towards a beverage-forward innovation strategy, inspired by global flavors and café culture, targeting younger consumers, particularly Millennials and Gen Z [1][1][1] - The company emphasizes the importance of consistency in flavor, color, and performance in its matcha offerings, ensuring that the product meets customer expectations [1][1][1] Company Background - Jack in the Box Inc., headquartered in San Diego, operates approximately 2,125 restaurants across 22 states, focusing on evolving with consumer tastes and trends [1][1][1]

Core Insights - Jack In The Box reported a revenue of $349.52 million for the quarter ended December 2025, reflecting a year-over-year decline of 25.6% and an EPS of $1.00 compared to $1.92 a year ago, with a revenue surprise of +1.64% over the Zacks Consensus Estimate [1] Financial Performance - The reported revenue of $349.52 million exceeded the Zacks Consensus Estimate of $343.87 million by +1.64% [1] - The EPS of $1.00 was below the consensus estimate of $1.10, resulting in an EPS surprise of -8.81% [1] Key Metrics - Jack In The Box shares returned +3.2% over the past month, while the Zacks S&P 500 composite experienced a -1.3% change [3] - The company holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3] Restaurant Counts and Sales - Total restaurant counts at the end of the period were 2,128, surpassing the four-analyst average estimate of 2,106 [4] - Franchised restaurant counts were 1,979, compared to the average estimate of 1,956 [4] - Company restaurant counts were 149, slightly below the average estimate of 150 [4] - Same-store sales for the system declined by -6.7%, worse than the average estimate of -5.2% [4] - Company same-store sales decreased by -4.7%, also better than the average estimate of -5.1% [4] Revenue Breakdown - Franchise rental revenues were reported at $97.39 million, below the average estimate of $98.63 million, marking a -16.4% year-over-year change [4] - Franchise contributions for advertising and other services were $61.35 million, compared to the estimated $64.78 million, representing a -20.8% change year-over-year [4] - Total franchise revenues (rental + royalties + contributions) were $217.61 million, below the average estimate of $224.75 million, reflecting an -18.9% year-over-year change [4] - Franchise royalties and other revenues were $58.88 million, compared to the estimated $61.34 million, indicating a -20.5% change year-over-year [4] - Company restaurant sales were $131.91 million, below the average estimate of $144.15 million, with a year-over-year decline of -34.5% [4]

Core Viewpoint - Elite Pharmaceuticals is conducting its Third Quarter of Fiscal Year 2026 Conference Call, indicating a focus on discussing financial performance and future expectations [1]. Group 1: Company Overview - The conference call is hosted by Mr. Nasrat Hakim, the President and CEO of Elite Pharmaceuticals, who will lead the discussion on the company's performance and outlook [4]. Group 2: Forward-Looking Statements - Elite Pharmaceuticals has issued a reminder that the remarks made during the call may contain forward-looking statements that involve risks and uncertainties, which are subject to change [2]. - The company emphasizes that actual results may differ materially from those anticipated in forward-looking statements, and it disclaims any obligation to update or revise these statements except as required by law [3].

We are doing exactly what we committed to do—simplifying the business and bringing down debt levels—and I am really pleased with the progress to date. With the transaction complete, only minimal separation activities remain; the team is fully re-centered on strengthening the Jack in the Box Inc. brand and executing the remaining elements of our Jack on Track plan. As we entered 2026, Jack in the Box Inc. proudly marked its 75th anniversary, a milestone few brands reach. The response to our anniversary activ ...

Financial Data and Key Metrics Changes - The first quarter same-store sales for Jack in the Box decreased by 6.7%, with franchise restaurant same-store sales down 7% and company-owned same-store sales down 4.7% [18] - Jack's restaurant level margin percentage decreased to 16.1%, down from 23.2% [18] - Earnings from continuing operations were $14.4 million for Q1 2026, compared to $31 million for the same quarter last year [23] - GAAP diluted earnings per share from continuing operations for Q1 was $0.75, down from $1.61 in the prior year [24] - Consolidated adjusted EBITDA was $68.2 million, down from $88.8 million in the prior year [24] Business Line Data and Key Metrics Changes - Franchise level margin was $84.1 million or 38.6% of franchise revenues, compared to $97.1 million or 40.9% a year ago [20] - SG&A for the quarter was $37 million or 10.6% of revenues, down from $41.2 million or 11.1% a year ago [20] Market Data and Key Metrics Changes - Food and packaging costs as a percentage of sales were 29.7%, increasing 380 basis points from the prior year due to commodity inflation of 7.1% [19] - Labor costs as a percentage of sales were 35.3%, increasing 200 basis points from the prior year [19] Company Strategy and Development Direction - The company is focused on simplifying the business and reducing debt, having successfully closed the sale of Del Taco and made a significant debt paydown [7][8] - The Jack On Track plan aims to bolster long-term financial performance by strengthening the balance sheet and positioning the company for sustainable growth [25] - The company is enhancing its value proposition and menu strategy, celebrating its 75th anniversary with brand activations and new product launches [13][14] Management's Comments on Operating Environment and Future Outlook - Management noted that Q1 results were choppy but broadly in line with expectations, with improvements expected as the year progresses [9][11] - The company anticipates steady improvement in top-line performance as it focuses on fundamentals essential for sustainable growth [11][16] - Management expressed confidence in the actions being taken to strengthen the business and drive long-term shareholder value [17] Other Important Information - The company expects to generate $50 million-$60 million from real estate sales by the end of fiscal year 2026, which will be used to pay down debt [27] - The effective tax rate for continuing operations for Q1 was 32.4%, compared to 30% for the same quarter a year ago [23] Q&A Session Summary Question: Trends observed in January and impact of weather - Management noted that January showed meaningful improvements, with same-store sales performing better than in Q1, despite weather impacts [32] Question: Chicago performance and labor inefficiencies - Management acknowledged ongoing challenges in Chicago due to a tough labor market and operational issues, but expressed optimism for improvements in the coming months [35][36] Question: Franchisee four-wall margins and support - Management indicated that while franchisees are facing margin pressures, they are not providing blanket assistance but are looking into specific cases [40][41] Question: Price-value equation and protecting margins - Management discussed their ability to take price increases while maintaining a strong value proposition for customers, including adjustments to bundles and portion sizes [43][45] Question: Breakfast performance relative to competitors - Management stated that breakfast remains a consistent part of their offering, with no significant changes in performance compared to other day parts [66][67] Question: Regional performance and California market challenges - Management acknowledged that California presents challenges due to labor pressures and noted that over 40% of their restaurants are located there, impacting overall performance [86]

Financial Data and Key Metrics Changes - The first quarter same-store sales for Jack in the Box decreased by 6.7%, with franchise restaurant same-store sales down 7% and company-owned same-store sales down 4.7% [17] - Jack's restaurant level margin percentage decreased to 16.1%, down from 23.2% [17] - Consolidated adjusted EBITDA was $68.2 million, down from $88.8 million in the prior year [23] - Earnings from continuing operations were $14.4 million for the first quarter of 2026, compared to $31 million for the same quarter a year ago [22] - GAAP diluted earnings per share from continuing operations for the first quarter was $0.75, compared to $1.61 in the same period of the prior year [23] Business Line Data and Key Metrics Changes - Franchise level margin was $84.1 million or 38.6% of franchise revenues, compared to $97.1 million or 40.9% a year ago [19] - There were 6 restaurant openings and 14 restaurant closures in the quarter [19] Market Data and Key Metrics Changes - Food and packaging costs as a percentage of sales were 29.7% for the quarter, increasing 380 basis points from the prior year due to commodity inflation of 7.1% [18] - Labor costs as a percentage of sales were 35.3%, increasing 200 basis points from the prior year [18] Company Strategy and Development Direction - The company is focused on simplifying the business and has made progress since the last quarter, including the sale of Del Taco and a significant paydown on debt [6][7] - The Jack OnTrack plan aims to bolster long-term financial performance by strengthening the balance sheet and positioning the company for sustainable growth [24] - The company is modernizing restaurants with cost-effective refreshes that improve curb appeal, generating modest sales lifts [14] Management's Comments on Operating Environment and Future Outlook - Management noted that Q1 results were choppy but broadly in line with expectations, with improvements starting in January [8] - The company expects steady improvement on the top line as it moves through 2026, focusing on fundamentals essential for sustainable growth [10] - Management remains confident that actions taken will lead to a stronger, more stable platform for growth [10] Other Important Information - The effective tax rate for continuing operations for the first quarter of 2026 was 32.4%, compared to 30% for the same quarter a year ago [22] - The company generated $10.9 million of proceeds from real estate sales in the first quarter, with associated gains of approximately $6.3 million [26] Q&A Session Summary Question: Trends observed in January and impact of weather - Management noted that January showed meaningful improvements, with same-store sales performing better than in Q1, even factoring in weather impacts [31] Question: Chicago performance and labor inefficiencies - Management acknowledged ongoing challenges in Chicago, citing a tough labor market and the need to dial in operations after opening multiple restaurants [34] Question: Support for franchisees amid margin pressures - Management indicated that while franchisees are facing pressure on margins, they are not providing blanket assistance but are evaluating individual cases [40] Question: Price-value equation in the current environment - Management has been able to take more price on the company side while ensuring value for customers, including lowering prices on certain bundles [44] Question: Breakfast performance relative to competitors - Breakfast has remained consistent for the company, with all-day breakfast being a core offering [65] Question: Regional performance and California market challenges - Management noted that California has been challenging, impacting both sales and profitability due to labor pressures [84]