Jersey Mike’s Subs Inc. (NYSE: JMKE) reported financial results for the fiscal third quarter ended September 27, 2026, and provided an updated outlook for the full year. The company announced a return of capital totaling up to $200 million, consisting of a $100 million share repurchase authorization and a special cash dividend of $0.35 per share of Class A common stock.
For the quarter, systemwide sales increased 11% year over year to $1.204 billion. Same-store sales grew 3.0%, driven by transaction growth. The company opened 80 new stores, resulting in net store growth of 8.8% year over year. Total revenue increased 10% to $209 million. Digital sales mix increased to 43% from 42% in the prior year.
Net income for the quarter was $10 million, compared to $32 million in the prior year. This decline was attributed to a $29 million one-time, non-cash, equity-based compensation charge related to the IPO and IPO-related professional expenses. Adjusted EBITDA increased 20% to $125 million versus $104 million in the prior year. Adjusted Net Income was $74 million and Adjusted EPS was $0.23 for the third quarter.
As of September 27, 2026, the company had 3,456 stores systemwide, including 3,415 in the United States. The company generated $177 million of operating cash flow in the first three fiscal quarters of 2026, with capital expenditures of $7 million.
Jersey Mike’s updated full-year fiscal 2026 outlook includes same-store sales growth of at least 2.5%, net unit growth of at least 8%, and Adjusted EBITDA growth of at least 20%.
