Cracker Barrel (CBRL) Reports Q1: Everything You Need To Know Ahead Of Earnings

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Cracker Barrel (CBRL) Reports Q1: Everything You Need To Know Ahead Of Earnings

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Restaurant company Cracker Barrel (NASDAQ:CBRL) will be reporting earnings tomorrow before market hours. Here’s what to look for.

Cracker Barrel beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $949.4 million, up 1.5% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ same-store sales estimates.

Is Cracker Barrel a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Cracker Barrel’s revenue to be flat year on year at $824.5 million, improving from the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.21 per share.

Cracker Barrel Total Revenue
Cracker Barrel Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cracker Barrel has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Cracker Barrel’s peers in the sit-down dining segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Brinker International delivered year-on-year revenue growth of 27.2%, beating analysts’ expectations by 2.6%, and Red Robin reported flat revenue, topping estimates by 1.3%. Brinker International traded down 16.4% following the results while Red Robin was up 61.4%.

Read our full analysis of Brinker International’s results here and Red Robin’s results here.

There has been positive sentiment among investors in the sit-down dining segment, with share prices up 10.3% on average over the last month. Cracker Barrel is up 32.4% during the same time and is heading into earnings with an average analyst price target of $49.29 (compared to the current share price of $56.50).

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