Jersey Mike’s (NYSE:JMKE) Announces Quarterly Earnings Results

Jersey Mike’s (NYSE:JMKE) released its quarterly earnings results on Wednesday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07, FiscalAI reports. The company had revenue of $209.00 million for the quarter. The business’s quarterly revenue was up 10.0% compared to the same quarter last year.

Here are the key takeaways from Jersey Mike’s’ conference call:

• Same-store sales grew 3% in the third quarter, accelerating from 2.3% in Q2 and driven primarily by transaction growth, which management said outperformed the broader fast-casual industry.
• Digital sales mix rose approximately 100 basis points to 43%, while loyalty registrations increased 21% year to date. Management expects expanded digital marketing, first-party data and personalized engagement to support longer-term traffic and frequency gains.
• Jersey Mike’s opened 80 stores in Q3 and 210 year to date, reaching 3,456 locations and approximately 9% net unit growth. Management highlighted strong new-store economics, a five-year domestic development pipeline and expanding international opportunities, including an imminent U.K. launch.
• Revenue increased 10% and adjusted EBITDA rose 20% year over year, aided by the transition away from the area director model. The company also authorized up to $100 million in share repurchases and declared a $0.35 special dividend.
• Management’s full-year outlook calls for at least 2.5% same-store sales growth, at least 8% net unit growth and at least 20% adjusted EBITDA growth, but it cited continued consumer-confidence softness and expects approximately $25 million of Q4 net interest expense with net leverage at 3.9 times.

Jersey Mike’s Stock Performance

Shares of NYSE JMKE traded down $0.54 during mid-day trading on Friday, hitting $18.25. 1,195,203 shares of the stock were exchanged, compared to its average volume of 3,274,440. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36. Jersey Mike’s has a twelve month low of $15.96 and a twelve month high of $24.99. The firm’s fifty day moving average price is $19.11.

Jersey Mike’s Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 5th.

Key Headlines Impacting Jersey Mike’s

Here are the key news stories impacting Jersey Mike’s this week:

• Positive Sentiment: Jersey Mike’s reported third-quarter earnings of $0.23 per share, exceeding the $0.16 consensus estimate, while revenue increased 10% year over year to $209 million. Same-store sales rose 3%, and digital sales represented 43% of total revenue. Jersey Mike’s Reports Fiscal Q3 Results
• Positive Sentiment: Management expects at least 20% adjusted EBITDA growth in 2026, supporting the company’s growth outlook. The board also authorized a $100 million share-repurchase program, which could provide support for earnings per share and the stock. Jersey Mike’s Expects EBITDA Growth and Authorizes Buyback
• Positive Sentiment: The company declared a special dividend of $0.35 per share, payable November 19 to shareholders of record November 5. The dividend may attract income-focused investors, although the stock will trade without the dividend beginning on the ex-dividend date. Jersey Mike’s Announces Special Dividend
• Neutral Sentiment: TD Cowen reaffirmed its “buy” rating and set a $22 price target, while RBC maintained an “outperform” rating. These recommendations remain bullish, but the targets are lower than previous estimates. TD Cowen Jersey Mike’s Rating
• Negative Sentiment: Multiple firms lowered their targets: Bernstein cut its target to $23 from $27 and shifted to “market perform”; Wells Fargo reduced its target to $21 from $25 and kept “equal weight”; and BTIG, RBC, Truist, and Stifel also lowered targets while retaining buy or outperform ratings. The coordinated reductions are likely the main source of near-term selling pressure. Analyst Target Revisions

Insider Buying and Selling at Jersey Mike’s

In other news, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total value of $8,349,627.90. Following the completion of the sale, the insider directly owned 35,732,138 shares in the company, valued at approximately $780,747,215.30. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares in the company, valued at $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,527,254 shares of company stock worth $120,770,500.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial reduced their target price on shares of Jersey Mike’s from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Zacks Research upgraded Jersey Mike’s to a “hold” rating in a research report on Tuesday, August 25th. Wells Fargo & Company dropped their price target on shares of Jersey Mike’s from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group set a $25.00 price target on Jersey Mike’s in a research note on Thursday. Finally, Weiss Ratings initiated coverage on shares of Jersey Mike’s in a research note on Monday. They issued a “sell (d)” rating for the company. Twenty-one equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.96.

Jersey Mike’s Company Profile

Jersey Mike’s, commonly known as Jersey Mike’s Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike’s Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” preparation.

Jersey Mike’s traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.