![]() Among many other highlights we returned to positive net restaurant growth in Q1 with five net openings for Jack and one for Del Taco, which is a good start towards delivering positive net restaurant growth for the full year. When combined with launching successful promotions, innovative products, and evolving into a more relevant digital brand, it gives me confidence we can price effectively and improve transactions. Our focus on staffing restaurants, training team members, expanding operating hours, improving speed of service, and reducing alerts, including the initiatives that support them are directly linked to our top-line sales performance. We continue to build momentum by driving operational excellence. 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. ![]() I never want to miss an opportunity to publicly say thank you for their efforts. Our restaurant operators, franchisees and team members are doing a phenomenal job of serving our guests and creating a better experience. We delivered outstanding performance with respect to same-store sales, improved Restaurant and Franchise-Level Margin and adjusted EBITDA. 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. And with that, I would like to turn the call over to our Chief Executive Officer, Darin Harris.ĭarin Harris: Thanks, Chris, and good morning everyone. 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. 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. However, actual results may differ materially from these expectations because of business risks. We will also be making forward-looking statements based on current information and judgments that reflect management's outlook for the future. Please refer to the non-GAAP reconciliations provided in today's earnings release, which is available on our Investor Relations website at. Note that during both our discussion and Q&A, we may refer to non-GAAP items. Following their prepared remarks, we will be happy to take questions from our covering sell-side analysts. With me today are Chief Executive Officer, Darin Harris and our Interim Chief Financial Officer, Dawn Hooper. We appreciate you joining today's conference call highlighting results from our first quarter 2023. It is now my pleasure to turn today's call over to Chris Brandon, Vice President of Investor Relations.Ĭhris Brandon: Thanks, operator, and good morning, everyone. After the speakers' remarks, there will be a question-and-answer session. All lines have been placed on mute to prevent any background noise. At this time, I would like to welcome everyone to the Jack's First Quarter 2023 Earnings Webcast. My name is Lisa, and I will be your conference operator today. Operator: Ladies and gentlemen, thank you for standing by. (NASDAQ: JACK) Q1 2023 Earnings Call Transcript March 1, 2023
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