Frontier Acquisition Corp
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Company profile

Frontier Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company focuses on biotechnology sector. The Company has no operations and has not generated revenues.

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Jack in the Box stock sinks after profit beats expectations but outlook was well below

8:52 am ET November 22, 2022 (MarketWatch)

Shares of Jack in the Box Inc. sank 8.2% in premarket trading Tuesday, after the burger chain reported fiscal fourth-quarter results that beat expectations but provided a downbeat full-year outlook, amid continued headwinds from the inflationary impact on margins. Net income for the quarter to Oct. 2 rose to $45.9 million, or $2.17 a share, from $38.9 million, or $1.80 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.36. Revenue grew 44.6% to $402.8 million, above the FactSet consensus of $392.0 million. Same-store sales rose 4.0%, as a higher average check, as increased pricing and traffic to company-operated restaurants offset a decrease in traffic for franchise. Restaurant margin fell to 16.2% from 20.1%, as wage inflation of 11.3% and increases in utilities and maintenance costs offset menu price increases. For fiscal 2023, the company expects EPS of $5.25 to $5.65, compared with the FactSet consensus of $6.59. The stock has lost 4.0% over the past three months through Monday, while the shares of rival burger chain McDonald's Corp. has gained 4.4% and the Dow Jones Industrial Average has tacked on 1.9%.

-Tomi Kilgore


(END) Dow Jones Newswires

November 22, 2022 08:52 ET (13:52 GMT)

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