Cracker Barrel Earnings Report Slips on Guidance
Cracker Barrel Old Country Store released disappointing fiscal fourth-quarter financial results before the markets opened on Wednesday.
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]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
