Cracker Barrel Earnings Report Slips on Guidance

By Chris Lange Updated Jan 13, 3:34AM EST · Published Sep 14, 11:10AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Cracker Barrel Earnings Report Slips on Guidance — © Thinkstock

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.

[nativounit]

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.

[wallst_email_signup]

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.