Cracker Barrel (CBRL) Misses Q4 EPS by 51c, Offers Guidance

Cracker Barrel (NASDAQ: CBRL) reported Q4 EPS of $2.19, $0.51 worse than the analyst estimate of $2.70. Revenue for the quarter came in at $810.9 million versus the consensus estimate of $826.49 million.

• comparable restaurant sales declined 0.4% and comparable store retail sales increased 1.3%

GUIDANCE:

Cracker Barrel sees FY2019 revenue of $3.04 billion, about inline with consensus.

• reflecting the expected opening of 8 new Cracker Barrel stores, as well as projected increases in comparable store restaurant sales growth in the range of flat to 1%, and comparable store retail sales growth in the range of flat to 1%. The Company projects food commodity inflation of approximately 2% for the year. The Company projects operating income margin to be approximately 9.3% as a percent of total revenue. The Company expects depreciation expense of between $110 million and $115 million; net interest expense of approximately $17 million; and capital expenditures of approximately $160 million to $170 million. The Company anticipates an effective tax rate for fiscal 2019 of between 17% and 18%. The Company projects earnings per diluted share for fiscal 2019 of between $8.95 and $9.10 compared to adjusted earnings per diluted share of $8.87 in fiscal 2018.
• (**Street sees FY EPS of $9.60)

For earnings history and earnings-related data on Cracker Barrel (CBRL) click here.

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