Jersey Mike's Reports Strong Q2 Profit, Guidance Drives Share Price Up
Jersey Mike's (NYSE:JMKE) reported second-quarter earnings that exceeded adjusted profit estimates despite falling short on revenue. The sandwich chain recorded $208 million in quarterly revenue, up 10% year-over-year but below the expected $209 million. Adjusted EBITDA rose to $114 million, surpassing analyst forecasts of $113 million. The company forecast stronger same-store sales growth for Q3 and maintained its full fiscal year guidance, including at least 20% adjusted EBITDA growth. Digital sales accounted for 43% of total revenue during the quarter, with systemwide sales reaching $1.2 billion—a 10% increase from last year. Jersey Mike's shares rose nearly 8% following the report and optimistic guidance.
Tickers: $JMKE
Topics: adjusted EBITDA earnings revenue performance same-store sales growth