Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Reports First Quarter Fiscal 2025 Results and Reaffirms Outlook

Cracker Barrel Old Country Store, Inc. recently released its financial results for the first quarter of fiscal 2025, which ended on November 1, 2024. The company reported total revenue of $845.1 million for the quarter, showing an increase of 2.6% compared to the same quarter in the previous fiscal year.

In terms of performance highlights for the first quarter of fiscal 2025:

– Total revenue rose to $845.1 million, with a 2.6% increase year over year.
– Comparable store restaurant sales increased by 2.9%, exceeding the Black Box Intelligence Casual Dining Index by 290 basis points.
– However, comparable store retail sales experienced a decrease of 1.6%.
– GAAP earnings per diluted share were reported at $0.22, while adjusted earnings per diluted share stood at $0.45.
– GAAP net income for the quarter was $4.8 million, and adjusted EBITDA reached $45.8 million, showcasing a 4.3% increase from the prior year’s adjusted EBITDA of $43.9 million.

Julie Masino, the President, and CEO of Cracker Barrel, expressed satisfaction with the results, highlighting the company’s performance in outperforming the Casual Dining industry in comparable store sales and traffic. Masino emphasized a focus on sustaining momentum and executing strategic plans for continued success.

The company also declared a quarterly dividend of $0.25 per share on its common stock, payable on February 12, 2025, to shareholders of record as of January 17, 2025.

Looking ahead to fiscal 2025, Cracker Barrel reaffirmed its outlook provided in its previous press release from September 19, 2024. The company anticipates total revenue between $3.4 billion and $3.5 billion, the opening of two new Cracker Barrel stores, and 3 to 4 new Maple Street Biscuit Company units. Adjusted EBITDA for the fiscal year is expected to range from $200 million to $215 million, with capital expenditures projected to range from $160 million to $180 million.

Investors are reminded of potential uncertainties that could impact Cracker Barrel’s outlook, such as macroeconomic conditions, including inflation, consumer confidence, and interest rates. The company will remain vigilant in addressing these factors.

Additionally, the company’s quarterly conference call was broadcasted live today and is available for public access online for further details.

Please note that Cracker Barrel’s financial results contain non-GAAP measures to provide a comprehensive view of its performance in the market. Reference to the full financial report is available on the company’s official website for detailed insights into its financial standing and operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cracker Barrel Old Country Store’s 8K filing here.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.