Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) released its fiscal fourth-quarter financial results before the markets opened on Wednesday. It posted $2.12 in earnings per share (EPS) on $745.6 million in revenue, which compares to Thomson Reuters consensus estimates of $2.13 in EPS on revenue of $742.34 million. In the same period of last year, it posted EPS of $1.97 and $719.18 million in revenue.
Comparable store restaurant sales increased 3.2%, including a 4.4% increase in average check, partially offset by a 1.2% decrease in store traffic.
The company expects to have EPS in the range of $1.75 to $1.85 in the fiscal first quarter, while the consensus estimate is $1.93 per share.
In terms of the outlook for the coming fiscal year, the company expects EPS in the range of $7.95 to $8.10 and total revenues between $2.95 billion and $3.00 billion. The consensus estimates for the coming year call for $8.32 in EPS on $3.01 billion in revenue.
Sandra B. Cochran, president and CEO of Cracker Barrel, commented on earnings:
We believe the strategic programs we implemented during the fiscal year successfully drove our continued positive results. While we anticipate ongoing challenges in the industry during fiscal 2017, our management team and employees remain focused on delivering continued growth in our business and driving long-term shareholder value.
On the books, Cracker Barrel’s cash and cash equivalents totaled $150.97 million at the end of the fiscal year, down from $265.46 million in the previous fiscal year.
Shares of Cracker Barrel were trading down 4.1% at $144.35 on Wednesday, with a consensus analyst price target of $164.00 and a 52-week trading range of $118.01 to $172.89.
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