Cracker Barrel Non-GAAP EPS of $1.21 misses by $0.13, revenue of $832.7M misses by $13.01M
Jun. 06, 2023 8:03 AM ETCracker Barrel Old Country Store, Inc. (CBRL)By: Niloofer Shaikh, SA News Editor
- 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%.