Jersey Mike's First Post-IPO Report: 2.3% Same-Store Sales, 10% Revenue Growth, 8.1% Unit Expansion
JMKE is trading near its 52-week low of $19.86 (5.6% above the low).
Summary
Jersey Mike's delivered its first earnings as a public company with solid top-line momentum: same-store sales rose 2.3%, revenue grew 10% to $208M, and net store count expanded 8.1% to 3,378 locations. Net income fell 37% to $37M due to non-routine expenses, advertising fund timing, and higher interest, but adjusted EBITDA climbed 7% to $114M. Management guided full-year same-store sales growth of 2.5-3.0% and at least 20% adjusted EBITDA growth, with Q3 same-store sales expected at 3.0-4.0%. The stock dipped 0.7% premarket to $20.68, still below the $23 IPO price. This follows heavy insider selling by Blackstone and ADIA shortly after the July IPO, making the unit growth and guidance the key positive signals for investors.
At the time of this announcement, JMKE was trading at $20.97 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6.6B. The 52-week trading range was $19.86 to $24.99. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.