Cracker Barrel Old Country Store Earnings: Here’s Why Shares are Down Now

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.8%.

Cracker Barrel Old Country Store, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 2.72% to $1.43 in the quarter versus EPS of $1.47 in the year-earlier quarter.

Revenue: Decreased 3.7% to $674.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cracker Barrel Old Country Store, Inc. reported adjusted EPS income of $1.43 per share. By that measure, the company beat the mean analyst estimate of $1.35. It beat the average revenue estimate of $668.68 million.

Quoting Management: Cracker Barrel President and Chief Executive Officer Sandra B. Cochran said, “The fourth quarter of fiscal 2013 represents the seventh consecutive quarter of year-over-year improvement in comparable store traffic, restaurant sales, and retail sales. The financial results of the fourth quarter and full year reflect the effective execution of our strategic plan. As we begin our 2014 fiscal year, we are poised to capitalize on the achievements of fiscal 2013. I am proud of our team’s hard work and dedication, especially those in the field who are committed to serving our Cracker Barrel guests every day.”

Key Stats (on next page)…

Revenue increased 5.26% from $640.41 million in the previous quarter. EPS increased 40.2% from $1.02 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.32 and has not changed. For the current year, the average estimate is a profit of $4.88, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)