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Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.78%.
Cracker Barrel Old Country Store, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 19.17% to $1.43 in the quarter versus EPS of $1.20 in the year-earlier quarter.
Revenue: Rose 4.37% to $702.67 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cracker Barrel Old Country Store, Inc. reported adjusted EPS income of $1.43 per share. By that measure, the company beat the mean analyst estimate of $1.25. It beat the average revenue estimate of $694.06 million.
Quoting Management: “This is the first quarter in more than ten years with positive comparable store traffic against a prior-year quarter with positive comparable store traffic,” said Sandra B. Cochran, Cracker Barrel’s President and Chief Executive Officer. “This was also the fifth consecutive quarter of comparable store traffic and sales growth, and of outperforming the Knapp-Track casual dining index. This quarter’s financial results exceeded our expectations and reflect the continued success of our marketing, menu, and operational initiatives. While we remain confident of our ability to execute our strategic plan, we also remain cautious about general economic conditions and consumer spending.”
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