CBRL - Cracker Barrel Non-GAAP EPS of $1.21 misses by $0.13 revenue of $832.7M misses by $13.01M

2023-06-06 08:03:34 ET

• Cracker Barrel press release ( NASDAQ: CBRL ): Q3 Non-GAAP EPS of $1.21 misses by $0.13 .
• Revenue of $832.7M (+5.4% Y/Y) misses by $13.01M .
• Comparable store restaurant sales increased 7.4%, while comparable store retail sales decreased 4.6%.
• Q4 Outlook : Total revenue growth of 1% to 3% compared to the prior year quarter; One new Cracker Barrel unit and five to seven new Maple Street Biscuit Company units; Commodity inflation that is approximately flat and wage inflation of approximately 5% compared to the prior year quarter; GAAP operating income margin rate of 4.1% to 5.1% and adjusted operating income margin rate of 4.5% to 5.5%; Capital expenditures of approximately $30 million to $35 million; A GAAP effective tax rate of approximately 0%.

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