Cracker Barrel Old Country Store

Cracker Barrel reported second-quarter revenue of $849.3 million, ahead of analyst estimates of $836.8 million but down 2.2% year on year, while adjusted earnings of $0.99 per share far exceeded the $0.17 consensus. The restaurant chain's adjusted EBITDA of $62.05 million beat estimates by 47.9%, and its operating margin rose to 1.5% from 0.5% a year earlier, though same-store sales growth slowed to 2.1% from 5.4%. The company guided to full-year revenue of $3.36 billion at the midpoint, 0.8% below analyst estimates, but projected EBITDA of $190 million for the upcoming financial year 2027, above the $177.7 million consensus. CEO Dave Deno, who recently stepped into the role, credited food quality and guest experience improvements, particularly at breakfast, along with operational gains in store execution, and said future growth will rely on doing fewer things better. Cracker Barrel ended the quarter with 655 locations, down from 725 a year earlier, and its Cracker Barrel Rewards loyalty program now exceeds 12.5 million members, accounting for over 40% of tracked sales.

Cracker Barrel Old Country Store reported fourth-quarter fiscal 2026 adjusted EBITDA of $62.1 million, or 7.3% of total revenue, up 11.4% from $55.7 million a year earlier, on total revenue of $849.3 million. Restaurant revenue was $698.5 million and retail revenue was $150.8 million, with comparable store restaurant sales down 2.1% on a 6.1% traffic decline while comparable store retail sales rose 0.7%, the strongest retail comp growth since the second quarter of fiscal 2023. GAAP earnings per diluted share came in at $0.54 and adjusted earnings per diluted share at $0.99, and the company cut total debt by $147.4 million year over year to $337.2 million, with $541.3 million in available liquidity. For fiscal 2027, Cracker Barrel guided to total revenue of $3.325 billion to $3.4 billion, comparable store restaurant sales growth of approximately 3% to 5% with no new stores, adjusted EBITDA of $180 million to $200 million, and capital expenditures of $110 million to $125 million, roughly 65% maintenance and 35% technology and other strategic initiatives. Chief Executive Officer Dave Deno, about six weeks into the role, said the company will stay focused on food quality, hospitality and menu mix, and Chief Financial Officer Craig Pommells said pricing will be highest early in the year at about 3% in the first quarter before tapering sequentially.

Cracker Barrel's fourth quarter results, reported Wednesday morning, exceeded Wall Street's expectations and sent the company's stock up over 3% following the market's opening. CEO David Deno, who took the reins just six weeks ago, said the company's improvements over the last several quarters have come from its focus on the "right areas and strong plan," crediting his predecessor Julie Felss Masino, who exited the chain in late July after three years that included a rebranding campaign and quick reversal following an outcry from longtime guests. CFO Craig Pommells said traffic was down 6.1%, while total revenue of $849.3 million, down 2.2% versus the prior year, and same-store sales, down 2.1%, exceeded expectations; average check increased 4.2%, inclusive of 4.4% pricing, and off-premises sales were 19% of total restaurant sales, a 100-basis-point increase versus last year. Adjusted EBITDA rose 11.4% to $62.1 million, including a tariff refund benefit of which $5.9 million was reinvested in the business for a net tariff benefit of $9.1 million. For the fiscal year 2027 outlook, Pommells expects total revenue of $3.325 billion to $3.4 billion, assuming same-store sales growth of approximately 3% to 5% and no new stores.

McDonald's is earmarking roughly $8.5 billion to help franchisees implement a multiyear plan to serve better food, improve service and make restaurants easier to run, news announced as the company held its investor day in Chicago. Cracker Barrel shares gained after the restaurant chain provided an adjusted Ebitda forecast for fiscal 2027 that beat the average analyst estimate, with the stock up 7% on the day and 79% over a longer stretch. KB Home shares dropped after the homebuilder lowered the upper end of its housing revenue forecast for the full year and cut its housing gross profit margin for 2026, citing worsening conditions in the housing industry. The moves came as mortgage rates reached their highest level in two years at 7.12%.

Cracker Barrel Old Country Store posted a positive earnings surprise of 395% in its fiscal Q4 report, sending shares up 6.8% in early trading and adding to a 79% gain year to date. General Mills beat expectations on both top and bottom lines, with earnings of $0.75 per share topping the Zacks consensus by 3 cents on revenues of $4.39 billion, 1.04% above estimates, though its shares traded flat and remain down 23.8% in 2026. KB Home surpassed forecasts with earnings of $1.05 per share on $1.3 billion in revenues, ahead of expectations for $0.88 per share and $1.29 billion in sales, but shares fell 3% as the homebuilder warned of headwinds in the present quarter including higher mortgage rates. Pre-market indices slipped, with the Dow down 174 points, the Nasdaq down 94, the S&P 500 down 11 and the Russell 2000 down 17, while WTI crude sat at $90 per barrel and Brent at $100 per barrel and the 10-year yield held at 4.99%. Fed Governor Michael Barr is set to speak on housing affordability at the Federal Reserve Bank of Chicago, and flash S&P Manufacturing and Services PMI for September are due after the open, with Manufacturing expected at 53.5 and Services at 55.7.

Cracker Barrel stock is surging after the restaurant chain's adjusted earnings per share came in well above analyst estimates in its latest quarterly report. Comparable restaurant sales fell about 2%, roughly half the decline analysts had expected, and shares rose about 7% in pre-market trading. The company, now led by new CEO David Dino, is also shrinking its store count, partly through the divestiture of Maple Street Biscuit Company. The stock is up 79% this year, and short interest stands at about 23.5% of float according to Bloomberg, a level that likely amplified the upward move through a short squeeze.

Cracker Barrel Old Country Store, Inc. has seen its stock surge 78.1% over the past six months, outperforming the Zacks Retail - Restaurants industry's 9.5% decline, and the company's recovery efforts are gaining traction. The rally is supported by stronger guest metrics, improved menu and loyalty strategies, and disciplined cost management, which led management to raise its fiscal 2026 revenue and adjusted EBITDA guidance. In the third quarter of fiscal 2026, total revenues were $797.4 million, with comparable restaurant sales down 2.6% but average check up 4.3%. The company also reported that its loyalty program has grown to nearly 12 million members, with member-tracked sales exceeding 40% of sales. Cost control remains central, with restructuring expected to generate $20-$25 million in annualized G&A savings, and the company ended the quarter with $541.3 million in available credit capacity. Despite these positives, risks remain from persistent traffic weakness and negative comparable restaurant sales, and the stock trades at a forward P/S multiple of 0.35, well below the industry average of 3.33. CBRL currently holds a Zacks Rank #1 (Strong Buy).

Cracker Barrel Old Country Store named David Deno as its next chief executive officer on Monday, replacing Julie Masino, who is stepping down from the role and from the company's board effective August 10, 2026. Masino will continue with Cracker Barrel in a transitional advisory role until October 9. Deno brings more than four decades of restaurant and retail industry experience, most recently serving as chief executive of Bloomin' Brands from 2019 to 2024, where he led international expansion, and previously holding senior operations and finance roles at Yum! Brands and Pizza Hut. Carl Berquist, independent chairman of Cracker Barrel's board, cited Deno's track record in announcing the appointment, expressing confidence he will drive operational and financial momentum. Masino's exit follows activist shareholder pressure over a logo change and restaurant remodels, though shareholders voted to retain her in November, and the company recently posted third-quarter adjusted earnings of 29 cents per diluted share on revenue of $797.4 million, exceeding analyst expectations and raising its full-year forecast.

Cracker Barrel announced the sale of its Maple Street Biscuit Company business and a sale-leaseback of 26 restaurant locations, moves aimed at sharpening focus on its core brand and reducing debt. The company transferred the Maple Street trademark and 35 restaurant assets to Biscuit Belly, LLC, while the remaining 16 Maple Street locations will close. Maple Street contributed less than 2% of Cracker Barrel's annual revenue, and the divestiture is expected to improve adjusted EBITDA beginning in fiscal 2027. Cracker Barrel anticipates non-cash charges of $37 million to $39 million in the fiscal fourth quarter, plus cash charges of $6 million to $8 million, with some costs carrying into fiscal 2027. The sale-leaseback deal generated roughly $77 million in net proceeds, which will be used to pay down debt. The company now projects it will hit or top the upper bound of its fiscal 2026 revenue guidance of $3.27 billion to $3.30 billion and beat its adjusted EBITDA target of $120 million to $125 million. Cracker Barrel stock rose 9% to $58.20 in after-hours trading.

Several companies made notable premarket moves following their latest earnings reports. Novartis shares jumped 4% after the Swiss pharmaceutical company posted second-quarter core earnings of $2.41 per share on revenue of $14.41 billion, both exceeding StreetAccount consensus estimates. General Motors gained more than 1% after reporting adjusted earnings of $3.57 per share on revenue of $48.03 billion, topping LSEG forecasts. 3M surged more than 5% as the conglomerate beat second-quarter expectations and raised its full-year guidance. Domino's Pizza slipped 1% after earnings of $4.07 per share missed the LSEG consensus of $4.17 per share, though revenue of $1.19 billion slightly beat estimates. Nebius Group rallied 6% after Nvidia disclosed a 9.3% stake in the AI cloud company. Taiwan Semiconductor Manufacturing rose more than 3% on a Nikkei Asia report that it will raise chipmaking service prices by up to 10% next year. Crown Holdings climbed more than 2% after beating top- and bottom-line estimates with earnings of $2.49 per share on revenue of $3.67 billion. Steel Dynamics dipped 1% despite an earnings beat, as it recorded an additional non-cash impairment charge of $16 million. Cracker Barrel Old Country Store added more than 1% after saying it expects to achieve or exceed the high end of its fiscal 2026 revenue range and exceed its adjusted EBITDA outlook.

Global asset management firm D.E. Shaw increased its stake in Cracker Barrel Old Country Store to 7.3% from 5.1%, now holding 1,631,772 shares. The new acquisition adds to a round of buying in June. D.E. Shaw has been an opportunistic investor in Cracker Barrel over the years but has always held a passive stake, in contrast to other investors like Sardar Biglari. Shares of Cracker Barrel are up more than 100% in 2026 after a stumble late in 2025, with short interest at 27.2% of the total float adding to volatility. The restaurant operator is expected to report fiscal fourth quarter earnings in early September.

Cracker Barrel has rebounded nearly a year after a failed rebrand attempt by bringing back traditional menu items and introducing Americana-themed merchandise. Store traffic declines have slowed and the company raised its full-year revenue outlook, sending its stock soaring on Wednesday. The turnaround follows widespread backlash to a 2025 rebrand that retired the iconic Old Timer logo and planned to modernize restaurant décor, prompting calls for the CEO's resignation and a billboard along Interstate 40 in Nashville. The company suspended remodels and logo changes, then leaned into nostalgia with a partnership with America250, limited-time offerings, new menu items, and a reimagined rocking chair.