HomeMarket NewsSmall CapsRestaurant Chain Cracker Barrel Shares Rise After Q4 EPS Beat; Topline Performance...

Restaurant Chain Cracker Barrel Shares Rise After Q4 EPS Beat; Topline Performance Falls Short

Actionable Trade Ideas

always free

cbrl

Cracker Barrel Outdated Nation Retailer IncΒ CBRL reportedΒ fourth-quarter FY23 income development of 0.8%Β year-on-year to $836.7 million, lacking the analyst consensus of $842.61 million.

Comparable retailer retail gross sales decreased 6.8%, and comparable retailer restaurant gross sales grew 2.4%.

β€œOur This autumn topline efficiency fell wanting our expectations. We’ve got taken and can proceed to take quite a few actions to enhance our visitors efficiency on the advertising and marketing and operational entrance which we imagine can be efficient, notably as we enter our vital vacation season. We will even launch our much-anticipated loyalty program, Cracker Barrel Rewards, within the subsequent few weeks,” stated Cracker Barrel President and CEO Sandra B. Cochran.

Basic and administrative bills elevated 14% Y/Y to $37.5 million. The working earnings for the quarter jumped 25% to $41.2 million, and the working margin expanded 95 foundation factors.

Cracker Barrel held $25.1 million in money and equivalents as of July 28, 2023.

Adjusted EPS of $1.79Β beat the consensus estimate of $1.61.

The Board of Administrators declared a quarterly dividend of $1.30 per share, payable on November 7, 2023, to shareholders of file as of October 20, 2023.

Outlook: Cracker Barrel expects Q1 FY24 gross sales of $800 million – $850 million versus the consensus of $848.54 million.

For Q1, CBRL expects GAAP working earnings margin fee of 1.55%-2.55%. The corporate anticipates capital expenditures of $27 million – $32 million.

CBRL anticipates to open 1 to 2 new Cracker Barrel shops and 4 to five new Maple Road Biscuit Firm items. It sees wage inflation of 4% – 5%.

Worth Motion: CBRL shares are buying and selling increased by 2.26% at $75.86 on the final test Wednesday.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.