Cracker Barrel Reports Q1 Preliminary Results, Reiterates FY '25 View

Core Insights - Cracker Barrel Old Country Store, Inc. (CBRL) reported a strong start to fiscal 2025, with preliminary results indicating revenues of nearly $845.1 million, surpassing the Zacks Consensus Estimate of$824 million [3][4] - Comparable store sales increased by 2.9% year over year, outperforming the Black Box Intelligence Casual Dining Index by approximately 290 basis points [3] - The company anticipates GAAP earnings per share of about 22 cents and adjusted earnings per share of 45 cents, with adjusted EBITDA expected to be around $45.8 million, reflecting a 4.3$3.4 billion to $3.5 billion, compared to$3.47 billion reported in fiscal 2024 [5] - Adjusted EBITDA for the fiscal year is projected to be between $200 million and$215 million [5] - The company is facing commodity inflation projected at 2% to 3% and hourly wage inflation expected to be 3% to 4% year over year [5] Strategic Initiatives - CBRL plans to open three to four new Maple Street Biscuit Company units and two new Cracker Barrel stores, with capital expenditures estimated between $160 million and$180 million [6] - The company’s stock has increased by 18.5% over the past three months, outperforming the industry growth of 8.3% [6]