Cracker Barrel Old Country Store Inc

Latest Results (11.01.2025):

Revenue Growth

Cracker Barrel Old Country Store Inc. reported total revenue of $845.1 million for the first quarter of fiscal 2025, marking a 2.6% increase compared to the same quarter in fiscal 2024. This growth was driven by a 2.9% increase in comparable store restaurant sales, despite a 1.6% decrease in comparable store retail sales.

Net Income and Earnings

For the first quarter of fiscal 2025, Cracker Barrel's GAAP net income was $4.8 million, representing a decrease of 11.2% from the previous year's first quarter net income of $5.5 million. The GAAP earnings per diluted share were $0.22, down 12.0% from $0.25 in the prior year quarter. However, adjusted earnings per diluted share increased by 12.5% to $0.45.

Adjusted EBITDA

Cracker Barrel reported an adjusted EBITDA of $45.8 million for the first quarter of fiscal 2025, which is a 4.3% increase compared to the adjusted EBITDA of $43.9 million in the same quarter of the previous year. This improvement reflects the company's efforts to enhance operational efficiency and manage costs effectively.

Dividend Declaration

The Board of Directors of Cracker Barrel declared a quarterly dividend of $0.25 per share on the company's common stock. This dividend is scheduled to be paid on February 12, 2025, to shareholders who are on record as of January 17, 2025, demonstrating the company's commitment to returning value to its shareholders.

Fiscal 2025 Outlook

Cracker Barrel reaffirmed its fiscal 2025 outlook, projecting total revenue between $3.4 billion and $3.5 billion. The company plans to open two new Cracker Barrel stores and 3 to 4 new Maple Street Biscuit Company units. Additionally, it anticipates commodity inflation of 2% to 3% and hourly wage inflation of 3% to 4%, with adjusted EBITDA expected to range from $200 million to $215 million.