Jack In The Box Inc.

Thank you for standing by. My name is Rebecca and I will be your conference operator today. At this time, I would like to welcome everyone to the Jack in the Box second quarter 2025 earnings webcast conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, Simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I will now turn the call over to Chris Brandon, Vice President of Investor Relations. Please go ahead.

Thanks, Operator, and good afternoon, everyone. We appreciate you joining today's conference call, highlighting results from our second quarter 2025. With me today, our Chief Executive Officer, Lance Tucker. our interim chief financial officer, Don Hooper, and our chief customer and digital officer, Ryan Ostrom. Select second quarter results were pre-announced on April 23rd as part of our Jack on Track plan announcement. Feel free to refer to the press release and conference call, which took place that day, for additional commentary related to the pre-announced metrics. For this reason, today's prepared remarks will be fairly brief. Following the prepared remarks, we will be happy to take questions from our covering sell side analysts. Note that during both our discussion and Q&A, we may refer to certain non-GAAP items. Please refer to the non-GAAP reconciliations provided in the earnings release, which is available on our investor relations website at jackinthebox.com. We will also be making forward-looking statements based on current information and judgments that reflect management's outlook for the future. However, actual results may differ materially from these expectations because of business risks. We therefore consider the safe harbor statement in the earnings release and the cautionary statements in our most recent 10-K to be part of our discussion. 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. And with that, I'd like to turn the call over to our Chief Executive Officer, Lance Tucker.

Thanks, Chris, and I appreciate everyone joining us today. I will be brief as we provided several key metrics as pre-announcement items within our Jack on Track plan three weeks ago. First, I'd like to reiterate my excitement around the changes we're making at Jack in the Box, namely becoming a simpler asset-like company that drives sustainable and healthy long-term growth for our franchisees as well as our investors. While our transformation won't happen overnight, we strongly believe the actions we're taking will meaningfully change the company's directions for the better in the near future. Turning to our second quarter results, there are a couple of main themes I'd like to highlight that impacted the quarter. First, the top-line environment. It's well known that there is significant pressure on multiple income cohorts, and we've seen the results in our negative traffic. There are definitely more headwinds than tailwinds at the moment for most within our industry. To combat these challenges, we remain focused on our barbell strategy, digital growth, and innovative LTOs to differentiate ourselves. These elements are all fundamental to the Jack brand, and each can meaningfully draft top-line momentum. While the team has a number of high-priority jack-on-track actions we're working through, allow me to emphasize that driving same-store sales is and always will be our top priority. Second, our tech modernization and digital evolution continues to take shape. Helped by continued increases in first-party activity and flip kiosks, we are now at 18% digital sales system-wide. As we stated when announcing jack-on-track, Digital is an area where continued investment will be tremendously important, and we remain committed to becoming a digital leader within our category. The rollout of our new point of sale system is another key aspect of our technological advancement. We have successfully implemented the new system in its accompanying flip kiosks in nearly 1,500 restaurants. In our Jack on Track announcement, we mentioned that the rollout impacted second quarter sales and I would like to briefly provide some additional color into what we are experiencing. As we integrate modern technology with our existing legacy systems, some of which are decades old, we've encountered a few challenges. These issues are unrelated to our new POS system or the partners involved in the integration. Rather, they highlight the necessity for Jack in the Box to continue overhauling its technology by investing in the rapid modernization of these legacy systems, which is already in progress. Before I move on, please note that while the sales impacts we've seen are temporary in nature and are being resolved as they arise, they do continue to impact results as we move into the third quarter. And lastly, before I turn it over to Dawn, I'd like to spend a moment reiterating our Jack on Track plan elements. First, a reminder that there will be much more detail to come in August. As discussed during our April 23rd call, Our objective is to position Jack in the Box for long-term, sustainable growth, which we will accomplish by implementing several significant actions as follows. We will strengthen our balance sheet to accelerate cash flow and pay down debt while preserving growth-oriented capital investments related to technology and restaurant re-images. We will also close underperforming restaurants to position ourselves for consistent net unit growth in competitive unit economics, and we will return overall simplicity to the Jack in the Box business model and our investor story. The team is hard at work on all of these initiatives, and I look forward to updating you on our progress with more specifics on our third quarter call. Now I'll turn the call over to our Interim Chief Financial Officer, Dawn Hooper, for her remarks, after which we will take your questions. Dawn.