CBRL - Cracker Barrel Non-GAAP EPS of $1.79 beats by $0.18 revenue of $836.7M misses by $4.89M

2023-09-13 08:02:16 ET

• Cracker Barrel press release ( NASDAQ: CBRL ): Q4 Non-GAAP EPS of $1.79 beats by $0.18 .
• Revenue of $836.7M (+0.8% Y/Y) misses by $4.89M .
• Cracker Barrel comparable store restaurant sales increased 2.4%, including total menu pricing increases of 8.7%. Comparable store retail sales decreased 6.8% from the prior year quarter.

• The Company provided the following outlook for its first quarter:

  • Total revenue of $800 million to $850 million
  • 1 to 2 new Cracker Barrel stores and 4 to 5 new Maple Street Biscuit Company units
  • Commodity deflation of 1% to 2%
  • Wage inflation of 4% to 5%
  • GAAP operating income margin of 1.55% to 2.55% and adjusted operating income margin of 2.25% to 3.25%, which contemplates the amortization of the asset recognized from the gains on sale and leaseback transactions, certain expenses related to the CEO transition, and a corporate restructuring charge
  • Capital expenditures of $27 million to $32 million

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